All Forum Posts by: Bob C.

This is something that I came to terms with after my second house.  My job is to FIND HOUSES and manage the reno.  THAT pays A LOT more than swinging a hammer. 

I LIKE doing that work, but it's $30/hr pay and the project takes a LOT longer (holding cost). I finally weaned myself off doing the work. There is always little things to take care of after the crews have left.  I typically do that stuff... an hour here or there.   That helps maintain my addiction.

@Corey Demuth I totally agree with you, BUT... the goal is to keep the conversation going. If I in any way put up a wall and say as sweetly as I can "it's none of your damn business", they are going to get turned off, shut down.  If I can't be open, then they will not be open.  

Originally posted by @Ryan D.:

@Bob C. I find that normally people who ask those kinds of questions aren't super motivated as well.

Ugh... I hope I don't find the same.   

 Yes, logically it is... but these folks have a lot of emotional attachment to their home and to the neighborhood, neighbors.  

I'm looking for an honest answer that will give them some comfort, so we can continue with our conversation.

As a receiver of these calls.... I hate hate hate superficial filler fluff "How are you" "Did you have a great weekend" etc.   Instant negative response to that crap. Caller instantly loses all credibility at that point. 

I DO appreciate and respect polite, quick and to the point - and minimize my interruption. Short = genuine, respectful.   Just the facts maam. 

I've finally got my direct marketing letters going out and the calls are coming in. A common question that always seems to be awkward is "What are you going to do with my house?". "What to do with the houses when you buy them?"

I'm having trouble finding a generic answer that is not In someway offensive to the homeowner.

I've tried

"Make repairs, update and then resell"

"Update and resell"

"Update/freshen up a bit, and then resell"

In response to any of those I seem to get a defensive, almost insulted response. "Oh my house is perfect", "my house doesn't need repairs it's perfect the way it is", Etc.

How do you folks answer that question?

I had/have a lot of these "should I do" questions.  The answer is almost always "what is my competition doing?", "what are my prospects seeing at other houses".

Central Air is one that I have struggled with the decision with a few times here (Southern NY). Both times the house's target ARV was about 30% higher than the median - right on the cusp of when buyers start to expect central AC.

Unfortunately, my cost of installing AC was much higher than yours.. in the 6-8k range, and would not have bumped the ARV much more than a couple thousand. I didn't install and kept my fingers crossed (and both houses went on the market in the Summer). Both turned out OK. Both sold and not one person looking at the houses said anything (to me) about the lack of AC.

If $1100 is truly your cost to install (not just the cost of the parts) I'd do it if I were in your position. Seems that central adds a lot more value (higher ARV, and quicker sale time) than $1100.

@raj has a good suggestion.  My thoughts are often skewed by non-hold solutions.

All you can do is make the offer and then move on. If you have the option to list it on the MLS, or refer it to an agent, then perhaps that sounds like the best option for this situation.

I have not read any of the other responses but let me say that I've been there and can wholeheartedly say NFW!

In a previous business I had my top employee was practically my partner and my right-hand man. Found out he was having an affair on his wife with another one of my employees. They both got fired immediately.

How to you trust somebody who is unfaithful to their closest person in the whole world?

 I think with either strategy, you have the chance of being in this situation. I don't think us putting out the value first avoids this situation.  You'll still end up having to justify your value.