Video Transcription
Speaker 1: Hey, guys. We are looking at this house in Tucker today. Well, sorry, more specifically, this is Stone Mountain, actually Smoke Rise district. So this is a good example of about how 90% of my calls from my website go. They’re calling me about buying the house for cash. They want to get to sell it quick. Maybe this house is a little bit older, it needs a little bit of work. Usually, how these appointments go is that I convince these people they need to go to the retail route. A cash offer is not going to be the same as a full retail pricing because investors have to work in all those repairs we’re going to do and our profit and all those kinds of things.
So normally, with a house like this, perfect example, this is a great house. Maybe a few little things are a little bit older. It’s got a newer roof, as you can tell. HVAC systems are a little bit older, using that R22 refrigerant that’s getting phased out this year, which we’re kind of having issues with needing to get it replaced on a lot of older homes. But I’m telling the seller the best thing for her to do is go that retail route where she’s really going to get that best price. Let’s take a look at a couple well things in this house here.
Okay. So, yeah, this is a good kind of house, flooring’s been updated. Hi, puppy. She got a new puppy, a little schnauzer. Kitchen’s in good shape, could use a little bit of updating. But there’s actually another investor here that I want her to speak to you because everybody needs to explore all their options, whether it be a cash buyer or the retail route. Again, this house looks good. There’s nothing that’s going to keep it from getting a buyer to get a loan on it, anything like that.
Again, this is just kind of my best suggestion to her. I will kind of tell her my cash price, but in reality, for the money they’re going to want to get, it’s just going to need to be a retail pricing, even with the fees that come with listing house retail. It’s going to be in her benefit to go through all that, pay some closing costs for the buyers, which is kind of a pain, and showing it and the realtor fees. But still, she’s going to come out way, way ahead on this house doing the retail route.
So here’s another thing that comes up a lot. A lot of people ask me what it would take to include the basement square footage on the house? And this is her basement/garage. So basically, you would need a few things. You would need there to be at least seven feet of ceiling clearance. That’s after all the ducks and everything is covered up with drywall. So at least 50% of that, which it looks like she has. And then it would need to be heated and cooled by the central system. So maybe just some vents on some of these areas and then drywall on any exposed wall, which she doesn’t have any.
So really, this one would not be too bad to make into enclosed area for the square footage, but she would need to put some type of wall here, make a little garage and then have the rest of the basement. And then it can be finished and can be included on your square footage, which of course raises the value of the house. I don’t always recommend doing that because it doesn’t always pay off, I guess, is the cost of doing that.