The door-to-door salesman says he can buy your house in 7 days, but can they

So the older woman in a pant suit with a 'we buy cash' lapel pin says, "we can buy your house in 7 days." But can she really?

In this blog article, we will look at some of the investor secrets and ask if the statement "we buy your house in 7 days" is really legit. Take note, not everyone can be Phoenix Homes, LLC, and their are a lot of look alikes.

Then, we will look at how to determine which people you can trust.

Every September, Bakersfield gets the ads on Pandora and the local Radio stations: "Than Merrill" is coming to the Mariott. He wants to teach you how to make money buying and selling in real estate. You don't have to be a licensed agent. All you have to do is attend a free seminar, which ultimately costs you every penny you have in your retirement account by the time you are done.

Educational seminars can be priced at or above $75,000 for the top packages. The training programs sell it to you as being better than a 4-year degree, and desperate people buy it.

Like the Luthern church, these investment programs sell "hope" at top dollar prices. They teach adults, just shy of retirement, how to get away with saying "we will buy your house in 7 days," without skirting the law. But the training programs don't show the real estate pupils how to come up with the financing to complete on their contracts.

The people who knock on your door with the all-cash offer are often more desperate for money than he seems.

Under California law, a contract holder can assign his or her rights in the a contract to someone else as long as the contract does not expressly forbid it. The assignor can even charge the stranger and take a profit in the process. In real estate investing, this is called a wholesale transaction. It's like flipping, but it's flipping the contract instead of flipping the house.

The buyer, who has no money, convinces you that he can buy your house in 7 days with all cash. But, he has no assets to his name. He has no way to close, and you never asked. The investor then attempts to find a different cash buyer who will then purchase the contract rights from him. If successful, he walks away from the deal with $5,000 to $15,000 in extra cash in his bank, and you just sold your house to a stranger that you've never met.

It is much more likely, the investor fails to find a buyer, and they fail to close on the sale. This just leaves you angry and feeling abused.

When doing a deal with an all-cash real estate investment company, there are some things to look for. Look for a company with history.

For example, Phoenix Homes, LLC, has been around since 2016. First, they were Phoenix Homes, Ltd, a Nevada Limited Liability Company, and then they moved to California and became Phoenix Homes, LLC, a California Limited Liability Company. This span of time shows that they have survived the test of time.

When doing deals with cash-investors, ask questions about previous deals. Do they have a team? What do the members of their team do? Do they have backup plans? And, do any of the members of the investment company have a real estate license issued by the DRE?

You don't need a license to wholesale properties, but when one or more of the investors has a real estate license, it shows that they take investing seriously, and they went the extra mile to invest hard work into understanding the laws and nuances that affect every home sale.

For example, Phoenix Home, LLC has 4 members. Three of them have been licensed in real estate sales after starting the company. One of the three is now working on a broker's license. This company is upwardly mobile, and the owners actively increase their investment of time and money into their organization.

Nothing is foolproof, but these are the kinds of signs that tell you that you are safer entering into a deal with Phoenix Homes. If you want to sell your house as is in Bakersfield, then check out Phoenix Homes, LLC.