Who’s Really Behind “We Buy Houses” Signs?

“WE BUY HOUSES!”

“FAST CASH FOR YOUR HOUSE!”

“SELL YOU HOUSE FOR CASH!”

“SELL YOUR HOUSE IN 10 DAYS!”

How many times have you driven past a corner in Baltimore, Glen Burnie, Pikesville or Westminster and seen one of these signs screaming at you? I’ll bet it’s more than twice a day. At every major intersection in the state of Maryland, you see one of those signs. I guarantee it.

Full disclosure: I do buy houses. It’s my business. But I can also assure you that you will NEVER see one of those signs with my phone number on it. It’s not my style.

Does it work for other investors? Absolutely. Is it legitimate? Most of the time.

So if those signs are legitimate, and these folks are investors just like me, then why shouldn’t you call the number?

The answer: CREDIBILITY.

Honestly, would you trust your biggest asset – your home – to someone who just puts a phone number on a sign and attaches it to a pole or light post? Or would you rather trust a local home buyer with a 5-Star Google Rating, a Better Business Bureau A+ Accreditation and a verifiable track record?

A credible, transparent, honest cash home buyer in Maryland does not need to hide behind a nondescript sign and a phone number. It’s that simple.  

Don’t get me wrong. I certainly commend these other Maryland cash home buyers hustling around town, putting up hundreds of signs in the wee hours in the morning. I admire the passion and drive. But again, good luck verifying most of these folks. In fact, many of them are actually out of state investors who pay local folks to put out the signs for them. And when you call the number, you could possibly be talking to someone who’s not even in the country.

If you are like me, you don’t make a commitment to any service professional – doctor, lawyer, mechanic, contractor, etc. without doing an extensive search on the internet. You want to see if they are who they say they are and, most importantly, you want to see what other folks are saying about the quality of their work and their customer service. I do not ever hire a professional or make a consumer purchase without doing my homework.

The best part about dealing with a business like mine is that you can easily find all of the information you need just by typing in a few words on Google.

When you are selling your house, it’s not the same as selling an old sofa on Craigslist or Facebook. You are selling the place where you come home to every night after work, where you raised your children, where you barbequed with your neighbors. And when you are ready to move on, for whatever reason, you want to make sure you are trusting the sale to someone who knows the importance and who knows the neighborhood.

Selling your home should not be taken lightly. And if it’s a situation where you can’t sell it with a realtor, do you really want to entrust the place where you built your life to a phone number you saw on a handwritten road sign?

Here are some situations where you usually can’t sell your home with a realtor for the best result:

Expensive Repairs

Fast Relocation

Tired Landlord

Inherited Property

In any of those situations, you want to deal with a home buyer who has experience in those areas. You won’t find that information on a sign at an intersection. It’s 2022, and having the ability to research businesses is your path to making the right decision when it’s time for you to sell your Maryland house.

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How to Deal With Non-Paying Tenants

Are you a landlord tired of tenants who are habitually late on their rent or simply not paying at all? Now, I know that COVID-19 has made things tough for people to pay their bills, so I am not talking about renters who are in a jam because of the worldwide pandemic. I am talking about fast talking tenants who never pay their rent, month after month – always giving you a new excuse.

You are facing a dilemma that is all too common for landlords across Maryland. It’s frustrating and unfortunately, your options are limited since Maryland is a very tenant-friendly state.

Don’t give up hope just yet though. I’ve got some tips that will help you if you are struggling with rent issues at your Maryland investment property.

Hopefully, you only accept tenants who pass a strict background check, who give you a deposit equal to at least one month’s rent and you have verified that they have a consistent source of income. After all, it is your rental property and you have the right to choose any tenant you want to live in your investment. Unfortunately, even with a solid lease in place problems sometimes arise when it’s time to collect the rent.

Here are four easy tips for dealing with non-paying tenants:

AVOID THE SITUATION ALTOGETHER

So many landlords use this strategy and it is certainly not recommended. Most of the time the problem is not going to just go away if you ignore it. You need to be proactive with your investments. After all, you spent good money acquiring the property, doing a rehab and soliciting for tenants. Ignoring a non-paying tenant will negate all of your hard work. And guess what? If you do nothing, I guarantee the tenant will do nothing also and just hope you don’t do anything to rectify the situation. DO NOT BE COMPLACENT.

NEGOTIATE A NEW PAYMENT SCHEDULE

At some point a landlord needs to decide on the best way to stay profitable. Especially in the current coronavirus world, it’s a much easier proposition to take some money as opposed to no money at all. Negotiating a payment plan is a good compromise between ignoring and evicting. But proceed with caution because the end game is to make sure that the tenant has the ability to catch up on what is owed in a reasonable time frame. And PLEASE make sure than any payment plan is backed up by a written addendum to the existing lease. 

EVICTION TIME

Sadly, eviction is sometimes the only option remaining. Remember, you are in the business off renting for profit and a delinquent tenant can prevent that from happening, month after month, if you are unable to reach another compromise. Be forewarned though – evictions are often difficult, especially in states like Maryland where the laws most definitely tilt in favor of the tenant. If you go the eviction route, be prepared to weather the storm for a few months and make sure you have plenty of supporting evidence so that the courts have no choice but to rule in your favor. In this situation, the name of the game is closing the gap as quickly as possible between when the tenant is given notice to when they legally have to vacate the premises.  

JUST SELL, BABY!

Sometimes it’s just better to cash out and sell your rental property. If none of the aforementioned solutions are working, it’s often best to determine an acceptable price, take the money and move on to the next project. Problem tenants, excessive repairs, property management company fees and sleepless nights worrying about your property sometimes just aren’t worth the hassle.

At Brad Buys Houses / We Buy MD Homes, we buy rental properties from landlords like you all of the time. We buy with cash, we close quickly and we pay all of the costs and fees at settlement. Most importantly, we solve your problem. If you are a tired landlord or just want to cash out of an investment property, please fill out the form at www.webuymdhomes.com or call us at (240) 424-0423