{"id":2984,"date":"2025-06-13T13:01:20","date_gmt":"2025-06-13T17:01:20","guid":{"rendered":"https:\/\/blackandbrownfolk.com\/?p=2984"},"modified":"2025-08-25T16:55:25","modified_gmt":"2025-08-25T20:55:25","slug":"keep-parents-home","status":"publish","type":"post","link":"https:\/\/blackandbrownfolk.com\/index.php\/2025\/06\/13\/keep-parents-home\/","title":{"rendered":"Keep That Property In Your Family"},"content":{"rendered":"\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

KEEP THAT PROPERTY IN YOUR FAMILY<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t

Washington, D.C. has some of the most gentrified zip codes in the country. That means older folks who\u2019ve lived here for decades, a lifetime for some, have passed the responsibility of their hard-earned equity to their heirs. Maybe you\u2019re one of those heirs. You\u2019re getting postcards and letters from real estate investors promising a quick and easy sale. Ask yourself, \u201cWhy?\u201d The answer is: these investors are going to relieve you of the hundreds of thousands of dollars in upside potential your parents or grandparents left to you.<\/p>\n

What are you going to do?<\/p>\n

Many, most by the statistics, sell at wholesale prices. Most investors will tell you they don\u2019t pay retail. They\u2019re quick. They require no effort on your part. When you see your parent\u2019s home on the market months later at a two hundred, three hundred, or four hundred thousand dollar markup from where you sold it, don\u2019t get mad at the real estate investor.<\/p>\n

For years, I\u2019ve watched my native D.C., though not just a local phenomenon, be transformed. As a Renovation Mortgage Specialist, I know my team has all the industry knowledge a homeowner or family heir would need to do the same or basically the same renovation a professional real estate investor will perform.<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
<\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t

There\u2019s no magic to what that, \u201cWe buy your house in just a few days,\u201d investor will do. Most renovations will take 6 \u2013 8 months. You\u2019ll need a contractor. You\u2019ll need financing. You\u2019ll need to stay on top of the work.<\/p>\n

I tell people to think of it as a part-time job that will pay you X hundred thousand dollars in the next year. Once they realize they can hire, for very little, a HUD- Consultant to cost out the repairs needed, down to to the cost of each nail, and that me, the Mortgage Loan Officer and the Consultant will recommend home improvement contractors who can stay in budget and are licensed and bonded, and that work is inspected regularly and even the contractor\u2019s profit is held back until the end, they feel better. I remind them to have Realtor\u2019s advise what improvements will sell the home at their target after-improved value. It\u2019s called a Current Market Analysis, and top area Realtors will do this for free for a chance to list your final product.<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t

There are even companies, I\u2019ve worked with a few, who will do the renovations, No financing from me needed, and get paid at settlement when the renovated home sells for top value. They\u2019ll be more expensive than the cost estimate a HUD-Consultant would approve, but they charge more for the risk they\u2019re taking.<\/p>\n

At the least, I\u2019d like to see my neighbors ask each postcard or letter-writing real estate investor if they\u2019d joint-venture on the renovation. Join real estate investor clubs. I guarantee you\u2019ll find investors happy to joint venture with you. You have a valuable commodity, a desirable real estate property. Even if you\u2019re behind on the mortgage or owe tax liens, see the upside potential, the after-improved value at the heart of real estate investment.<\/p>\n

If, after knowing all this, you decide to sell to the wholesale investor and be done with it, I ain\u2019t mad at cha.<\/p>\n

Grandma might be though.<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

KEEP THAT PROPERTY IN YOUR FAMILY<\/p>\n","protected":false},"author":1,"featured_media":2985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[68,67,64,66,65],"class_list":["post-2984","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-mortgages","tag-heirs","tag-negotiation","tag-probate","tag-renovation-mortgage","tag-wealth-transfer","post_format-post-format-image"],"acf":[],"_links":{"self":[{"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/posts\/2984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/comments?post=2984"}],"version-history":[{"count":14,"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/posts\/2984\/revisions"}],"predecessor-version":[{"id":3015,"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/posts\/2984\/revisions\/3015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/media\/2985"}],"wp:attachment":[{"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/media?parent=2984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/categories?post=2984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blackandbrownfolk.com\/index.php\/wp-json\/wp\/v2\/tags?post=2984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}