Why the Constant Harassment from Cheapskate Investors Bother Me

It irritates the life out of me. These unrelenting scoundrel sharks are always at it, constantly bothering homeowners with their relentless and persistent attempts to capitalize on their desperation and ignorance. They are not there to serve the buyer or the seller but rather to seek instant profits at the expense of everyone else.

Investors routinely low-ball the value of a home, buying low and selling high. They often sell properties to unsuspecting buyers at inflated prices, such as the case of that gorgeous two-bedroom home in Spokane, Washington. An investor purchased this home for just $250,000, targeting a mortgage payment of around $1,200 per month. In the very next month, the same property was put up for rent at a stratospheric rate of $2,400. This is unaffordable for those looking to rent in Spokane, or any sensible homebuyer for that matter.

The Aggravation of Persistent Calls and Messages

These people are relentless. They call, text, and send postcards incessantly. I got two canned calls one day, inquiring if I still had a remaining mortgage of $80,000. If they were genuine, they would have done their homework before the call. Instead, they treated me like a collateralized asset. And it doesn’t stop there; if they don’t get the results they want, they ping you back or text messages with the typical response, “We are circling back.” I’ve heard from at least forty of these scams, and they don’t even bother to respect a simple request to stop calling. One even passed my number and address to a so-called “scammer friend.”

The Consequences of Agreeing to Sell

If you agree to sell to these investors, you put yourself in a precarious position. They will squeeze every ounce of equity from your home, and then they will market it to others, driving the price down even further. They will insist that you drop the price as if the renovations or repairs needed to be done are of their concern. You might be coerced into lowering your price because of their manipulative tactics. Ultimately, they pocket a profit, selling your home at a far higher price than they initially offered.

Real Estate Scams and the Importance of Professional Help

The reason these scammers succeed is due to the ignorance of home buyers and sellers. They exploit the vulnerabilities of people who are either in a rush to sell or have a false sense of desperation. By using real estate agents, you can protect yourself from these schemes. A professional can offer unbiased advice, help you understand the true value of your property, and safeguard your interests.

The Bottom Line

These investors are simply not worth dealing with. They are more interested in making a quick buck than in providing genuine value to homeowners. If you encounter them, politely but firmly refuse their offers and redirect to a professional who can help you navigate the complexities of the real estate market without being manipulated.