Houze Homes

12/18/2018

Here's a house with great investment potential we picked up recently in Rockwood. We've already closed on it, so this is a FSBO deal rather than wholesale. Make us an offer! Video Walk-Through Take a look at this 3-bedroom home for sale in Rockwood, TN: Property Details 207 W Dunn St, Rockwood, TN 37854 3 bedrooms, 1 bath 1,073 ft2… [ 67 more words ]

Here’s a house with great investment potential we picked up recently in Rockwood. We’ve already closed on it, so this is a FSBO deal rather than wholesale. Make us an offer! Video Walk-Through Take a look at this 3-bedroom home for sale in Rockwood, TN: Property Details 207 W Dunn St, Rockwood, ...

11/19/2018

Today on Craigslist I saw a house for sale where the seller offered financing: $750 a month, 30 years fixed, no credit check.

I flagged the listing as "prohibited."

Why?

Because what that company is doing is illegal times two.

First, when a company (doesn't necessarily apply to individuals who sell) offers financing for a home that the buyer's going to live in, the company is legally obligated to have PROOF that the buyer can repay the loan. Credit check is part of that equation.

The deal smacks of predatory lending: setting the buyer up to fail so the company can get the house back in foreclosure and sell it again to the next "stop wasting money on rent -- give me a $13,000 down-payment that you'll probably lose when you lose your place to live" buyer.

Burns me up.

Then there's the second issue. Even if the buyer agreed to pay the maximum residential mortgage interest rate allowed by Tennessee law, the monthly payment on a 30-year loan should be $255 given the asking price and downpayment required... quite a bit less than $750 a month.

Add usury to predatory lending. Great deal, right?

You can make great money in real estate while treating people well, working ethically and well within the law.

I didn't start this post to toot my own horn... I just wanted to rant. But while we're here...

I started Houze Homes, LLC (Houze was my great-grandmother's maiden name) last year. The goal was -- and is -- to (1) help people out of burdonsome homeownership situations, and (2) help them back into homeownership situations they can afford.

We've got the first part down. Part 2, well, we have a ways to go. But we'll get there. And we'll get there by doing the next right thing. NOT by taking advantage of desperate situations. We can and will do well in our business while doing good in our community.

If you like what we're about, please follow our page.

And if you know someone who wants or needs to sell, please share our message with them. We'd love to help them -- by offering a fair price and a quick closing.

11/09/2018

Here's a walk-through of our newest acquisition.

http://www.houzehomes.biz/for-sale-easy-parkridge-flip-duplex/ Parkridge, Knoxville, TN real estate: House for sale Fix-and-flip or hold as a rental. 2BR/1BA...