Will you be listing my house on the MLS or actually buying it?

Great question. We’re not agents, and we don’t list houses. We are professional home buyers: We buy houses in Wichita and the surrounding areas in Kansas that meet our purchasing criteria. From there we may repair the house and resell it to another home owner or keep it as a rental ourselves.

Do you pay fair prices for properties?

Many of the houses we purchase are below market value (we do this so we can resell it at a profit to another homeowner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash, we close very quickly (no waiting for financing), and no time or effort or expense is required on your part of fix up the property or pay agent fees. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair win-win price. (Besides, our no-obligation pricing commitment means that you do not have to move forward with the offer we give… but it’s good to know what we’re offering!)

How do you determine the price to offer on my house?

Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and the values of comparable houses sold in the area recently. As you know, house values have taken a huge hit in the last 5 years and most areas still haven’t seen prices come back up. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.

Are there any fees or commissions to work with you?

This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too!). No hassle. No fees. We make our money after we pay for repairs on the house (if any) and sell it for a profit (we’re taking all of the risks here on whether we can sell it for a profit or not, once we buy the house from you… the responsibility is ours and you walk away without the burden of the property and its payments… and often with cash in your hand).

How are you different from a real estate agent?

Real estate agents or realtors list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 6-12 months) and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We’re not agents, we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you, and we pay with all cash… we can make a decision to buy your house within a couple days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer (which is the hard part in this market).

Is there any obligation when I submit my info?

There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us… and we won’t hassle you, won’t harass you… it’s 100% your decision and we’ll let you decide what’s right for you.

Using House Hacking To Build Wealth In Wichita

House hacking is one of those terms you may hear as you begin your investment journey, but what is it exactly? Learn more about what it is and how to do it in our latest post!

House hacking in Wichita can be an excellent way to build your personal wealth. Finding these sorts of loopholes has allowed people to purchase properties with little money down and next to zero out of pocket costs. So…

What Is It?

House hacking is a term used when an individual purchases a multi-family property with, occupying one of the units themselves. A buyer using an FHA loan will have a much lower down payment than someone taking out a conventional loan and they will be able to purchase a property with up to 4 units. By doing this, the buyer will have their mortgage and other expenses covered as long as the other units in their building are being rented out. As with anything, there are some pros and cons. However, as long as you don’t mind having some neighbors for a little while, house hacking can be one o the easiest ways to get started with investment real estate.

House hacking can also apply to single-family properties. A buyer will purchase the property, claiming one bedroom and renting out the others to tenants or friends. The rent collected should cover the mortgage as well as other ownership expenses. This can be an excellent way to finance the purchase of a property you can see yourself living in years down the road. It will help you easily build equity without little to no cash out of pocket.

What Are The Benefits?

As you can imagine, there are many benefits to purchasing your rental property in this manner.

Your expenses are paid for by the other occupying tenants
It can be a great way for individuals to get started in real estate without a huge financial investment up front
Buying a house in this manner can be great for singles preparing for homeownership down the road
The tenants living in the other units will be on their best behavior since you’re living there too
You will have a very low down payment when using an FHA backed loan
You will only have to occupy the property for a short amount of time

What’s The Catch?

Purchases made with FHA loans will often have restrictions associated with them. These will vary based on area, however, you will typically be required to live in one of the units for at least 12 months before renting out the entire building or house.

You’ll greatly increase your accessibility to your tenants. Sure, you want to be able to provide help when needed, but you don’t need to be woken up by your tenants at all hours of the night over meritless complaints. When your tenant is also your neighbor, they’ll be able to tell when you’re home and will be able to knock on your door any time day or night. You might lose your sense of privacy in this sort of situation. However, if you get good tenants in the door, it can turn into a wonderful living situation for all.

How Do I Get Started?

To get started house hacking in Wichita, you’ll want to find the best multi-family properties available. Kansas Home Guys can help you whether you are looking for a duplex, triplex, or four-unit building in the Wichita area. Proper tenant screening and building maintenance is a must in order to create a harmonious living environment for all.

For more tips on house hacking in Wichita, send us a message or give us a call! 316-854-1050

Get Started With The Better Way To Sell Your House!

Unlock the potential of your property in Kansas! No commissions, no fees, and no obligations. Provide some property details below or dial 316-854-1050 to get started today!