Sell Property Quick, Throw in Your Girlfriend
(post by BT) Some people’s character comes out the first time you meet them… Met an investor who buys 2-family houses that need major rehab at basement prices, makes them look pretty, then sells a little bit below market value for a quick profit. First time I met him, he took me on a tour of this newly renovated property. Said the house was a dump when he got it, and he renovated it, but cosmetics only! Now, what does that mean… he basically replaced/renovated anything that you can see with your naked eye. The old, rotten plumbing hidden behind the walls, bad electric or heat or structural issues are never touched. Oh yeah, that’s right, that’s how he gets down baby, makes things look pretty, doesn’t care about what happens later. It’s how he makes quick money - small capital investment (cheap materials, cheap labor, quick clean-up) - SOLD! And who bought this house? A local pastor, that’s who. One who apparently put down $200K down payment! Damn, church is good business, I guess! Before you attack me on that comment, I must mention that the pastor owns 4 other properties in the area!
So, Mr. Investor then tells me that in order to make the deal work, the buyer had some specific requests. He wanted new appliances and a laundry room. “I said to the guy, shit that’s all you want? New fridge? No problem. Washer and dyer? Sure! Whatever it takes to make the sale…. I’ll even let you F my girlfriend!”
Though of the day: Should I do business with this character?!