"I've seen 'Build Realty, Inc' on some of your paperwork, is Build a real estate brokerage?"
No, Build is not a real estate brokerage. However, we do have a close relationship with our in-house brokerage, Lou Park Realty who provides complete full-service listing services to our investors at a reduced price. When our company was initially formed, we had originally intended to go with a traditional real estate brokerage business model. However, we felt that we could better serve our customers by focusing on one niche of the real estate market - selling investment properties to investors, and providing free coaching and education to those investors to ensure their long term success. We take title to all of the properties that we sell, and our sales associates are regular employees of Build.
"Where do you get your properties?"
Build is one of the largest volume home buyers in the Greater Cincinnati Area. We purchase over 100 properties per year from over 20 different acquisition sources. By purchasing a high volume of properties, we are able to negotiate lower prices than the average individual investor.
"Why should I buy a property from Build, can't I just find a property on my own?"
There are a lot of deals out there, and we aren't naive enough to believe that the only good properties are sold by our company. If you see a better deal out there than what we have in our inventory, by all means, BUY IT! However, when you purchase a property from Build, you are not only getting a property that you know is priced with your long term success in mind; you also gain access to our complete coaching and education, contractors who provide special pricing to our customers, and a specially priced full service listing service to help maximize your return on investment - all of which are available at no additional cost to any investor who purchases a property from Build.
"Where do you come up with the 'After Repair Value' for your property packets?"
We purchase access to the Haines database, which includes all recorded property sales, even those sold outside of the MLS. To come up with the "After Repair Value" of properties, we take an average of comparable sales within 1 mile, 12 months, inside the same school district, and within 10% of the square footage of our subject property. We exclude bank-owned sales and properties that sold at the sheriff's auction. We typically use the highest sales for our comparables because we are assuming that the subject property will be completely renovated and be in "move-in" condition.
"Do you co-op with real estate agents?"
Absolutely. We have many agents who represent buyers when purchasing properties from Build. In fact, many agents find that it is much easier to stay updated on our available inventory rather than fight through other offers for properties on the MLS. As the agent, you simply need to provide all of the necessary disclosures as well as an agreement to pay commission form which we will sign and return to your broker. All agent commissions will be paid in compliance with Ohio Law.
"It looks like you have some great deals, but I'm looking for a place to live. Does Build sell their properties to owner-occupant buyers?"
Most of the properties that Build sells are need of significant repairs. Because of this, many banks will not lend on any property that we have in our inventory. The only times that we have sold properties to owner-occupants are when the buyer was using some type of an equity line on another property, or they were simply purchasing the property with cash. 99% of the properties that we sell are to investors who are not looking to live in the property.
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