Does anyone know of investment groups (people that really have money or large buying power) that buy luxury homes and estates. I have a couple with great LTV’s. Seems like all the blind ads for “luxury properties wanted” are just bird dogs. I called eight listings and all had voice mail and recordings. If so, there is enough wiggle room in this deal for a grand referal fee.
Hi, I’m a Realtor in TX. I have a group ready to buy as long as the numbers work out. We’re looking for commercial also.
The problem, as I see it with these “Luxury Estates” is that when the market cools down as it is now doing in many places and the bank REO inventory starts to grow, the high dollar properties are what always tanks the hardest. Example; I bought 2 houses back in 1990-91. One cost us $665k and the other 720k. Both of these houses had mortgages that were just below a million dollars at the time they were foreclosed on. Meaning the houses had appraised at one point for 1.25million - 1.50 million. Had the bank lent that 2 million on say 10-15 middle class tract homes they never would have faced the huge losses that they did. So with that said I’m not surprised to hear that Luxury Estate buyers are somewhat difficult to find…for now that is.
Regards, Bill H.
It’s amazing to me that there are people out there announcing that they buy luxury properties. However, they never answer their telephone or emails, or have recordings touting their desire to buy. I guess they are just bird dogs trying to get in on some action. Are there any legitimate buyers for high-end real estate out there?
You can check MLS for agents who are representing luxury sellers. Do a search for the homes online or drive the neighborhoods if you can.
Also try agents or professionals who have the Luxury Marketing certification. http://www.luxuryhomemarketing.com/
I’m in direct contact with the sellers. These are high-end FSBO’s where the owner is willing to make a great deal for someone who can close fast.
If I was avidly advertising that I wanted sweet deals, I darn well would answer my phone when it rang, or have someone else answering it, so I could jump on the opportunity.
gatorgirl check your messages. I answer my phone.
Dee:
I wasn’t trying to bash realtors or what you all do. But sometimes people want a quick sale and don’t want a realtor to tie up the property with a lsiting, and hike up the price.