Gaston’s company takes over existing mortgages or brings in private lenders allowing him to pay homeowners all cash for the properties. He then offers his properties for rent or “for sale by owner” using a variety of unique seller financing programs. By taking a long term approach and never relying on banks, business has never been better for Gaston and his company.
“Most sellers are unaware of the options we offer. What they need most is a qualified buyer… and we might just be that buyer. We can buy houses in as-is condition, pay top dollar and close in just a few days… or whenever they’re ready.”
Steve says it’s normal for people to think they must be desperate before calling him to buy their house. “It’s a very common misconception. But until I look at a house and do some research, I won’t know my game plan for the property or what I can offer. But after a single visit to the property and meeting with the homeowners I can let them know exactly what I can do. My offer is good for 7 days and it’s only at that point, with my offer on the table, that a seller can decide if I’m going to become their buyer.”
In fact, price is not an issue for Gaston. As an investor, what’s important to him is the determination of what income the property can produce. “It’s easy to determine. I also do an appraisal and look at the recent comparable sales. Then I do whatever I can to offer a seller up to full price today — or about what they might net sometime in the future pursuing a more conventional route. What I can pay depends on the condition, location and financing options available for that type of property. It only takes about 10 minutes to prescreen a property over the phone and to set an appointment. We typically buy 1 out of every 4 properties we see. In fact, for about half of those I have purchased, the seller pursued their other options and then came to realize that my offer was the best all along.”