How Do I Get Paid from an Investor?
Hey, this is Mike from Mike Buys Houses.
One of the questions that I often get is how do we get paid when working with an investor? They SAY they pay all cash, but how does that really work?
A lot of homeowners think they’re going to be walking away with a suitcase full of money when they leave the meeting, and that is not typically the case. So, what happens is we buy houses in one of two ways, either via cash or via terms.
So, when we buy via cash, it’s going to be a simple process where we will go to the closing agency on the day that we choose to close, based around your schedule. We’ll bring a cashier’s check to the title agency, and they then disperse that money as they should. So, they will either pay off the mortgage, pay off any secondary liens, and pay off any taxes or insurance deficiencies. Basically, they will make sure that the house is caught up before dispersing the leftover money to you, the homeowner. At that point, it’s over and the house is sold and your free from your problem property just like that!
Purchase via Terms
The second option is when we buy houses via terms. Usually that that looks like is you are going to get paid every month. In your mailbox, guaranteed money from me here at Mike Buys Houses. You’re going to collect your equity in installments over time and you’re going to happen to be earning interest on that money as you go.
It’s a great way to make mailbox money without the headaches of being a landlord, without dealings of a tenant, without repairs, without vacancy worries. None of that! You’re only worry is papercuts from having to actually pick up the physical check from the mail every single month like clockwork.
Or avoid papercuts altogether, and we will set up everything digitally to just automatically go to your bank account. However you want it set up, we will make it easy for you.
So give me a call at 267-984-4765 if you’d like to learn more or fill out the form below.