Dan: Besides the senior market Phillip, what other types of markets, situations do you run across where someone’s looking to sell a house quickly.
Phillip: I have it quite often where someone says they’re going to do their own rehab and they see all the shows that are on television, HGTV is full of shows. They think oh I can do that. They have enough money to go out and pay cash for the house. You can pick up a house for twenty or thirty thousand dollars in some parts of St. Louis pretty easily. They figure they’re going to hire their buddies and get their friends and do their own rehabs.
Well, I’m thinking of one example in particular. The guy after his plumbing, his copper pipe had gotten stolen for the second time and he was over budget by double; he had just kind of thrown in the towel. He said, “Hey, in essence I want to recoup my money back out of this house if I can find somebody that wants to take it off my hands.” A lot of times either a tired landlord or just a tired rehabber is another person or type of person that sells us houses.
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