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Posts Tagged ‘Amarillo Real Estate Investor’

Cash for Houses Amarillo | Scam or Solution?

Tuesday, January 8th, 2013

Today I googled the term ‘Cash for Houses Amarillo’ just to see what would come up.  I saw that there were many people who said that the ‘Cash for Houses’ advertising is nothing but a scam.  At first this really upset me.  But then I realized that many people do have very negative experiences with Real Estate Investors.  It is just a sad fact.  So I thought I would respond to the three biggest complaints that I kept reading about.

  1.  These companies are just trying to list houses, not buy them.

Here at Mitchell Property Group we buy Amarillo houses.  We buy lots of houses actually.  Yes, my wife Emmy is a Real Estate Broker (and a darn good one I might add!).  Yes we can list your house if you really want us to.  But our main focus is buying houses.  When you call us we are not going to try to get you to list your house with us!  We want to buy it!

  1.  Nobody ever called me back.

It is our goal to answer all calls that we receive during business hours.  But we are still just a very small family business.  We can’t answer them all.  We are out looking at houses every day.  So we try to call everyone back within a few hours.  Sometimes we are out of town or we are closed for a holiday.  But believe me, if you call or e-mail us, you will most certainly get a call back from us asap!

  1.  The offer was ridiculously low.

I have written many blogs about how we make our offers.  You can read one of them at We Buy Amarillo, TX Houses.  You can read another one at Are We Buy Amarillo Houses Companies Scam Artists.  But the bottom line is that we do not offer 50 cents on the dollar.  Our offers are very fair and our terms are excellent!  We do the job of a general contractor and a Realtor.  And we take all of the risk!  Every year we end up losing money on several deals because we make very aggressive offers.

 

I want people to know that not all Real Estate Investor companies in Amarillo are the same.  I want people to know that we are different.  If you have a house that you need to sell give us a call.  We would love to hear from you.  Call us today at 806-359-7653 or visit us online at Cash for Houses Amarillo.

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10 Ways to Avoid Being Scammed by Real Estate Investors Amarillo TX | 806-359-7653

Wednesday, December 19th, 2012

Well another big Real Estate Investor seminar has blown through Amarillo.  I always cringe when I hear their advertisements that promise to show people how to ‘get rich flipping houses with no money down.’  Now it won’t be long until we have a whole new wave of so-called Real Estate Investors. These people do not have the money to buy your house but they have just enough training to look and sound like a real investor.  I can tell you right now that you do NOT want to get involved with this type of person.  No wonder Amarillo Real Estate Investors get a bad name.

So how do you know which company to work with?  You have got to make sure that you are selling your house to an established, reputable company.  You need to make sure that they have the funds available to close and that they do indeed plan to close on the house themselves.  Make sure that they aren’t trying to sell their contract to another investor.

Here are the top 10 ways to avoid being scammed:

  1. Deal only with local companies.  This makes checking up on a company much easier.  I personally would never deal with someone who wasn’t local.
  2. Ask for and call references.  A good company should have plenty of satisfied customers.  I can give you a list of references a mile long.
  3. Check with the Better Business Bureau.  Just because someone has a ‘we buy Amarillo houses’ ad doesn’t mean that they are a real company.
  4. Insist on using a local title company.
  5. Meet the person face to face if possible.  There are too many scams out there.  Meeting face to face makes it much harder to be scammed.
  6. Ask lots of questions.  Don’t take anything for granted.
  7. Have a local attorney review the contract if anything looks suspicious.
  8. Don’t work with anyone who wants to put a sign in your yard and sell your house to someone else.  That is just ridiculous.  If you were going to do that you should have just called a Realtor!
  9. Ask for at least $500 in earnest money and a short closing date.
  10. Do not sign a contract with a long option period or a long inspection period.  Anything over 5 days should be a red flag.

It is important to remember that not all Real Estate Investment companies are bad.  When we write a contract on a house, we intend on closing that deal.  We have the funds available to buy it.  Sometimes we even advise people to do something besides selling us their house.  We have to live and work here in this community with the same people we help.  We are very much a local company.  People can stop by our office for a cup of coffee anytime.  But the bottom line is that our deals close on time.  We do what we say we’ll do. That’s why we are still in business.  We can give you dozens of references.

 

If you have a house to sell in Amarillo or Canyon,  give us a call.  We would be happy to make you an offer.  You can call us at 806-359-7653. You can also visit us online at Amarillo Real Estate Investors.

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Amarillo House Flipping a Scam? | We Buy Amarillo Houses 806-359-7653

Wednesday, December 5th, 2012

Well I guess it was bound to happen again.  Another Real Estate training company is coming to town.  They have blasted commercials for the last month over just about every radio station in Amarillo.  “Make big money flipping houses right here in Amarillo!  You don’t need any cash or credit!  Come to our FREE seminar!”  In other words… “Get rich quick flipping houses!”

Recently News Channel 10 called me and asked if they could come interview us and ask a few questions about these types of seminars.  I hate being on camera but I would be crazy to turn down that kind of free publicity.  I asked them why they chose us.  They told me that they had done their research on my company and that, in their opinion, we were the most established and reputable company in Amarillo.  They knew that we have been in business for over 10 years.  They called around and checked us out with the Amarillo Association of Realtors and the Better Business Bureau.  They liked the fact that we have an actual office with regular business hours.  They just felt like we were the real deal.

During the interview they asked us many questions about Real Estate Investing here in Amarillo.  But their main focus was on the ‘free seminar.’  They wanted to know if it was a scam or not.   They also wanted to know if House Flipping in Amarillo was a scam or not.  I gave them my honest opinion.  There is no business in the world that can be a success without hard work.  I also told them that in order to have a successful house flipping company that you would need some capital and good credit.  I told them that a lot of people were going to have their hopes dashed once they found out that the ‘free’ seminar was just a big sales pitch.

But I also told them that if they were looking for victims that they were looking in the wrong place!  Sure many people would get caught up in the hype and excitement of this seminar and they would max out their credit cards.  Some would succeed and some would fail.  But the real victims are the unsuspecting home owners who would try to do business with these newly-trained, eager, so-called Real Estate Investors!

Every time a seminar like this comes to town there will be dozens of would-be Real Estate Investors that pop up.  They know what to say and they seem legit.  They know just enough to be dangerous.  The problem is that they have no money!  I mean, after all, isn’t that  what the seminar was focusing on?  People with no money and no credit?  How can this person possibly be a ‘House Buyer?’  They simply want to tie your house up with a contract and try to resell it to a real investor, like me.  They want to be a middle man or middle woman.  But make no mistake, they do not have the ability to buy your house.  They are a waste of your time.  The really sad thing is that they are dealing with people who are in really desperate situations.  People who have lost their jobs.  People who are facing divorce or foreclosure.  People who desperately need to sell fast.  These are the people who can least afford to play games when it comes to selling their house!  In the end, it is the unsuspecting homeowner who falls victim to real estate seminars and the fly-by-night investors that they create.

If you need to sell your house fast, make sure you deal with a real company.  A company who has been in business for years.  One who can give you many references.  One who is a member of the Better Business Bureau.  Ask lots of questions and do your homework.  If you would like more information on how to avoid being scammed click here  Are Real Estate Investors Trying to Scam You?  Of better yet, give me a call at 806-359-7653.

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Amarillo Real Estate Investors 806-359-7653

Tuesday, May 1st, 2012

6 years ago today I quit a great paying job and began my life as a full-time Real Estate investor. We had been investing part-time for years but this was the big dream we had been praying would become reality.  I remember being extremely excited but also scared that it wouldn’t work. I was terrified that I might fail. I bought a old clunker minivan that I could drive with the thought that if things got tough I could sell my truck and stay afloat for a few more months. I think it embarrassed Emmy to death but the kids loved riding in it. I even had a second and third job lined up just in case we weren’t making ends meet.

I’ve made a ton of mistakes over the last 6 years, several of which could have knocked us out of the game. It is amazing to me how the Lord has rescued us every time. Emmy has been such a huge help. She can do my job and my assistant’s job but there is no way I can do hers. I am very thankful for such an awesome wife who has not only supported me, but also helped make it happen.

We still have a long way to go to accomplish our goals but man… it is just awesome to wake up every morning and be so excited to go to work! I will never, ever stop being thankful. Thank you Lord, and thank you Emmy Lou!!!!!

If you need a Real Estate Investor to make an offer on your house in Amarillo or Canyon give us a call at 806-359-7653.  You will be hard pressed to find another investor who is happier to help!  Or you can check us out online at Amarillo Real Estate Investor

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Sell Your House to an Investor or List with a Realtor? | Amarillo TX Real Estate

Tuesday, April 19th, 2011

I get a lot of calls from people who are trying to decide whether to list with a Realtor or sell to a Real Estate Investor.  It really just depends on the situation.  There are advantages to both.  People are worried that it may take months to get their house sold, and for good reason.  The housing market in Amarillo is not as bad as some parts of the country, but it is not as good as it used to be.

But there has been some good news recently in the housing market.  CoreLogic reported that home prices fell again in February, but the price drops appeared mostly with distressed sales–short sales and bank-owned homes, otherwise known as REO properties. Excluding these, the CoreLogic index was essentially flat, down just 0.1% versus a year ago. Their Chief Economist commented, “When you remove distressed properties from the equation, we’re seeing a significantly reduced pace of depreciation and greater stability in many markets.” During the month, 6 out of 10 of the country’s biggest markets saw home price APPRECIATION in non-distressed sales.

So what does this mean to the average homeowner in Amarillo TX?  Well, to me, this says that there are really two housing markets.  One for pretty houses and one for houses that need work.  I say this to people over and over.  If you have a house that is in good condition, in a good neighborhood, and you have months for it to sell, then listing with a Realtor is the way to go.  Keep in mind that you will end up paying around 6% in Realtor fees, about 1% in your closing costs, and usually 3% in buyers closing costs.  You will probably get hit with a list of repairs that you will need to make.  You will have holding costs for the time that it sits on the market.  But in the end you will come out ahead.

But what if you have a house that needs work and you can’t afford to make the repairs?  What if you can’t wait for months for it to sell?  That is when it may be best to sell to an investor.

When the housing market was at its peak, distressed properties could be sold without too much trouble.  But now mainly because of Foreclosures the market is flooded with ‘fixer-uppers.’  Whereas before distressed houses were hard to find, now they are on every block.  This makes it very difficult to sell a distressed property on the open market.  Now there is fierce competition in this segment.  As banks keep discounting these properties in order to get them off of their books, the market just keeps getting softer.  That is why it makes sense to get an offer from an investor.

We are a local husband and wife team who specialize in buying houses in the Amarillo area.  Why should you work with us?

  1. We are super easy to work with! We make sure you understand all of your options.
  2. We pay cash!  You don’t have to worry about long drawn-out bank approvals.
  3. We close whenever you want! You are in complete control.
  4. We buy property in as is condition. You don’t have to fix anything or clean anything!
  5. We don’t put a sign in your yard and try to sell your house to other buyers. WE BUY IT!

If you have a house that needs a lot of work, or you have a house that you need to sell fast, call us today at 806-359-7653 or visit us online atAmarillo Real Estate Investors.

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Are Amarillo Real Estate Investors Con Artists?

Friday, April 8th, 2011

When I tell people that I am a Real Estate Investor most of the time it is pretty well received.  But sometimes people give me the evil eye.  It’s almost like I just told them that I am a drug dealer or something!  I often hear people saying that Real Estate Investors try to steal houses or that they are low-ballers.  I really don’t understand why some people think that.  They are just like any other small business owners.  They are just trying to make a living.  Sure there are bad ones out there, but there are also plenty of good ones.  Before you jump to conclusions, here are a few things that you might want to consider:

  1. Real Estate Investors work with smaller profit margins than most other retail businesses.  Most houses are purchased by investors for around 70-75% of value.  Then they spend money rehabbing the property.  They also have to pay taxes, insurance, and make payments until the property sells.  When it sells they will usually end up paying most of the new buyer’s closing costs plus a 6% Realtor commission.  They will also have their own closing costs to pay.  When all the dust settles, most Investors will end up making around 5-10% on the total deal.  This is not a very good return when you consider the tremendous amount of risk that is involved.  Realtors make 6% and have no risk.  Most retail stores have between a 30% and 50% mark up, if not more.  Car dealers buy your trade in for $10,000 and sell it for $14,000.  These margins are much better than the margins that Real Estate Investors work with.
  1. Price is not the only thing to consider in a transaction.  Think about a convenience store.  You pay more for items in a convenience store then you do in a grocery store, but you can get what you need right now!  It is more convenient.  People always pay more for convenience.  People will knowingly accept less for their house if they can have their money in 3 days instead of 3 months.  The same applies to someone who is trades their vehicle to the dealer instead of selling it on their own.  They receive the wholesale value but they don’t have wait for their car to sell.  Each person sells for his or her own reasons.  Sometimes convenience or timing can be more important than price.
  1. Real Estate Investors help the economy and provide an invaluable service to the community.  They buy houses that are not desirable.   They remodel these houses, increase the value, and sell them.  By transforming these run-down houses they increase the value of the entire neighborhood.   This is a good thing, especially if you live next door to the distressed house.  In many blue collar neighborhoods rehabbers account for a huge portion of the houses that are sold.  So the bottom line is that Real Estate Investors increase home values and sell lots of houses.  According to the National Association of Realtors, two jobs are created for every house that is sold.  Every house that is sold pumps nearly $60,000 into the economy.  Real Estate Investors help drive the housing market.
  1. Real Estate Investors provide affordable housing.  If it weren’t for these investors there would be no rent houses.  Imagine that… a world without rentals.  There are a lot of people who would be in trouble.  I mean, who hasn’t lived in a rent house at one time or another.

Every month I get calls from people who live in small towns where there are no Real Estate Investors.  These people are desperate for someone to buy their house.  They have some sort of emergency and need to sell as fast as possible.  Their house is in such bad condition that it cannot be sold to a home owner.  Unfortunately I can’t help them.  Most critics of Real Estate Investors forget that not everyone has a house in a good neighborhood that is in perfect condition.  Not everyone can wait for six months for their house to sell.  Most critics have never faced foreclosure, loss of income, bankruptcy, or divorce.  They have never walked in the shoes of people who are facing desperate situations.  Thank goodness there are a few good Real Estate Investors in Amarillo.

If your house needs a lot of work or if you need to sell it fast give us a call.  We can buy your house and close in less than a week.  We are members of the better business bureau and have tons of references.  Call us at 806-359-7653 or visit us on line at Amarillo Real Estate Investors.

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Real Estate Investor in Amarillo TX Buys Houses!

Tuesday, November 16th, 2010

With all of the late night infomercials on late night TV, it seems like there are more Real Estate Investors popping up than ever before.  I actually ran into a guy the other day who was my waiter at Chili’s who told me that he was a Real Estate Investor!  I’m not trying to be mean, but that is not the guy who I would want to deal with if selling my house was a life or death matter!  And if anyone understands how hard it can be to get started as a Real Estate Investor it’s me.  I moved to Amarillo 15 years ago with everything I owned loaded in the back of my pickup truck!  I sympathize with people who are starting out.  But it’s like going down to have open heart surgery…. Give me the doctor who has done hundreds of surgeries, not the rookie doctor who is just starting out!

My wife and I are local Real Estate Investors who buy houses in the Amarillo and Canyon area.  We have been doing this for seven years and have bought and sold hundreds of houses.  We have the experience to handle any just about any type of Real Estate problem that you can think of.  We take the time to listen to you and make sure that you understand all of your options.  We are very easy to work with.  If you don’t believe me then just give me a call and you will be able to tell in the first few minutes of our converstion.  I can give you as many references as you want.  If you have a house that you need to sell give us a call.  Not all Real Estate investors are created equal!  This is what we can offer…

  • Close on whatever day you want (You are in complete control!)
  • Take the property as-is (You don’t have to fix or clean ANYTHING!)
  • Pay all of your closing costs (Saves you money!)
  • Take care of all the details and paperwork (No stress for you!)

If you are even thinking about selling your house, and you don’t want to wait 6 months for it to sell with a Realtor, give us a call today at 806-359-SOLD (7653). I think you will be glad you did. Or visit my website here: Amarillo Real Estate Investors

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