How much do you know about the fast cash home buying industry?
We thought you might enjoy a quick history lesson on cash buying in the United States. As usual, there is plenty of value to using this approach to sell your home, but only if you select a credentialed buyer like KC Property Guys.
History of Fast Cash Home Buying
This industry started quite a while ago, well before it was as popular as it is today. We could trace it back to the 1960s and 1970s when landlords were looking for rental properties and were willing to pay cash for them. If you could buy an affordable house and use it as a rental, it was a profitable endeavor.
It wasn’t until the mid-1980s or 1990s, with the emergence of businesses like HomeVestors and We Buy Ugly Houses, that the cash home buying industry really expanded. Those companies would establish franchises to address a market demand for fast-selling flexibility. Once they started doing it with their franchises, they would host seminars, train other individual investors how to do it, and the industry has since flourished.
Contemporary Fast Cash Home Buying
What is it like today?
Now, you still have some of those franchises but there are also several individual investors doing it on their own. Some are buying houses to a) flip and rehab, b) build a real-estate portfolio, or c) simply experiment with a career in real estate. It’s much more prevalent on TV programs like the ones on HGTV.
All of that makes the industry look really appealing to entrepreneurs who want to rehab or rent out properties. Some folks do this with only a few homes per year, but then there are other companies, like KC Property Guys, that have a higher volume. We buy and sell about 40 or 50 homes a year with seven crews that handle renovations, cleaning, and other tasks. Most of our houses are on the rehab side, so we actually see many other mom-and-pop businesses who participate in cash-buying endeavors.
Finding a Reliable Cash Home Buyer
Since there are so many small, medium, and large-scale cash-buying businesses nowadays, it helps to know how to find a reliable cash buyer for your home. Obviously, you can’t select a company by going with the first name in the phone book. This requires a little more discernment.
Here are a few pointers:
- Use a web search to locate cash buyers and find out about their real estate credentials. Do they have a substantial buying history? If not, you won’t know whether they have an excellent reputation.
- Then you can check to see what their previous clients think about them. It’s no different from any other business. They should have a Google Business Profile with customer feedback. KC Property Guys, for example, has a Google profile with dozens of evaluations and a perfect 5-star rating.
- It also helps to verify whether they have good standing with the Better Business Bureau (BBB). Strong buyers, like us, have an A+ accreditation with that business watchdog organization.
Capitalize on the Equity in Your Home with KC Property Guys
You can capitalize on your home’s equity if you wish to sell soon. While cash buying isn’t necessarily about finding “top dollar” for your home, it is a smart move for homeowners who want to sell a house with less hassle. This applies to retirees and downsizers, someone who needs to relocate fast, divorcees, and anybody who’s inherited a home they don’t wish to keep.
If any of this resonates with you, then we’d like to help explore your options. You can learn much more about fast cash home buying by contacting us anytime for reliable guidance and partnership.