What is a distressed property?
Why does STL Real Estate want distressed properties?
Along with our affiliate brokerage, STL Real Estate Properties, we are earning our place as the #1 home investment brokerage in St. Louis. For more than 10 years, we have bought, sold and redeveloped homes in St. Louis, starting with distressed properties.
What is a distressed property?
When a property is distressed, it needs a lot of work. Often, the extent of the repairs needed to distressed properties exceed what a typical home-buyer is willing to do. For example, if a home is several years old and hasn’t been updated in decades, most traditional homebuyers are not likely to gut and renovate a home up to modern standards. It’s a large, stressful project. Understandably, the majority of people do not have the expertise to handle it. In this scenario, a real estate investor would buy this property, and use his/her team to renovate the property, bringing the plumbing, sewer and/or electrical work up to code and create a home for a current home buyer.
However, not just homes can be distressed. Homeowners often find themselves in distressed situations as well. STL Real Estate works with homeowners who need to sell their home quickly due to a difficult circumstance. Instances like this include; tax liens, impending foreclosures, medical issues, death, divorce or any other situation where a home would need to be liquidated quickly.
What are some signs of a distressed property?
Distressed properties are usually easy to spot. Typically physical indicators will be present. Oftentimes, these homes will be the “ugly” house on the block or show signs that the owner has clearly lost interest. For example, distressed home might have overgrown lawns, boarded up or broken windows, a sloping roof or are obviously vacant.
If a home looks forgotten, it most likely belongs to a distressed homeowner.
And why would anyone have an interest in distressed properties?
At STL Real Estate, we are investors. Our business is to redevelop communities one property at a time. Compared to other U.S. markets, St. Louis has relatively low property values, which makes it prime investment territory, attracting investment brokerages like STL Real Estate. We buy homes throughout the St. Louis region, renovate them using our teams of trusted contractors with the intent to sell them for a profit. Our team is known for producing impeccably renovated homes with the most current finishes in popular St. Louis neighborhoods.
Of course, we can’t renovate every home we come across. When we can’t, we turn to our vast network of investors. Our network includes fellow “flippers”, landlords, wholesalers and more. If we can’t buy a property, we market directly to these St. Louis investors, all of whom are currently in search of investment opportunities. This model of doing business helps us move more investment properties, making us the #1 home investment brokerage in St. Louis.
Overall, not only does STL Real Estate want to purchase homes, we also aim to help homeowners out of difficult situations and to move forward with their lives. In the process, we create homes for St. Louisans beginning a new chapter in their lives.
If you or someone you know would like more information regarding distressed homes or needs a cash offer on a property, please reach out to us. We will be happy to guide you.