OK, So You’re Ready to Buy One of Our Properties… Now What?


First things first, Congratulations!

My name is Mikk Sachar and I'm the owner and founder of Rehab Vault, LLC.  Simply click on my name if you want to know more about me personally. 

If you haven’t realized it yet, here at Rehab Vault we offer true wholesale-priced homes.  Before we continue however, as active Fix N Flip investors ourselves, we’ve considered buying numerous homes throughout the years from other wholesalers.  Unfortunately what we typically find is that they sell properties with very little margin or supporting comparable sales.  Therefore, in our wholesaling business, we take a different approach and look through hundreds of properties before we find one that meets our strict buying criteria. 

We guarantee to deliver properties that are truly below market.  Now, the definition of “below market” can be subjective. If you ask ten different investors you’ll get ten different answers. Here’s how we define “Below Market”:

   
1)   Must have 3 “sold” comps that are within a one-mile radius of the subject property. The 3 comps must be within ~300 square feet +/- of the subject’s living space.

    2) Subject property must be at least 30% below the average of the 3 sold comps.

It’s not easy finding these types of properties. We spend thousands of dollars on marketing and countless hours searching for deals that meet this criteria.

Where do they come from?

We are marketing specialists. Our arsenal of marketing strategies includes:


You name it we do it.  We spend a lot of money and a ton of marketing to find the right deals for our business.  As such, we are very protective of our inventory and thus have very strict protocols when working with other local investors – especially new ones we don’t have established relationships with.

How come?

No matter how trusting we are when working with new investors, there’s always someone who tries to take advantage of the system.  Typically this involves the would-be investor trying to go behind our backs and negotiating directly with the sellers for their own benefit.  This never works since we have iron-clad contracts with sellers before we ever present deals, but the fear is always there.  In addition, any attempt by an immoral investor like this can also sometimes spook out our sellers.  Due to this reason, we hardly ever put new investors in contact with our sellers. 

Once you have established a relationship with us however and have proven your credentials, the lines of communications improve dramatically. 

In the meanwhile however, following are the strict protocols you will have to follow if you want access to our bargain properties. 

They are not designed to be intrusive in any way but rather to provide us adequate assurance that you are a serious buyer.  As such, just like any normal real estate purchase, we need assurances from you that you are serious and not wasting our time.  To insure this, we simply ask for 2 things.

(1)  An idea from you regarding how quickly you can close.

 and

(2) Proof you have the funds/cash necessary to make the purchase of the property. 

           i.    Recent bank statement in your or company name proving you have funds. Please Note, you are FREE to black out sensitive information like account numbers or personal identification numbers.  The goal of this protocol is simply to get verification you have funds available in your name.

           ii.    A statement from your banker verifying you have adequate funds to make the purchase.

           iii.   A Line of Credit/Business Line statement showing you have enough on your credit line to make the purchase.

and

           iv.   Any other means of proof you see fitting to give us ample assurance you are a ready and able buyer. 

And that’s it. 

All you have to do is simply provide that information to us via email scan or fax.  Email address is mikk@rehabvault.com or fax is Toll Free 866-703-5117.

Please Note, you only need to provide this information once. After you have proven to us you are a serious buyer, we will never ask you for this information again. In addition, once you prove to us you are a ready and able buyer, you will get superior service from us over someone else off the street. 

We value your relationship and pride ourselves in providing highly discounted real estate investment opportunities to serious players BUT never work with tire kickers. 

The above protocols are strictly applied when the subject property at hand has current occupants/sellers in the property.  When the properties are vacant, we are much more lenient on this requirement but for your benefit, it’s always a good idea for you to prove to us you are a serious player.  It will only get you better attention and access to properties others don’t even know exist.

Once you have provided us proof you are a ready and able buyer, we will share further details with you about the property in question. 

We will then insure you get access to the property to do your own due diligence inspections.  Most of the time, you will be inspecting these properties on your own and gaining access via lockboxes on the property.  At other times, especially when there are current occupants, someone from Rehab Vault will accompany you. 

If you like what you see after your inspections, you simply call us and tell us you are ready to sign an agreement of sale.  We will deliver this to you electronically or in person.  At the time of signing, you will need to place an Earnest Money Non-Refundable deposit “EMD” with us and the purchase process will be initiated with our title company/attorney’s office.  In most cases, the typical EMD will be a minimum of $2,500. 

Please Note, the EMD is only non-refundable in the event you simply choose to change your mind.  If for some reason, we can’t deliver a property to you with clean and marketable title, of course you will get your EMD back.  Since we have strict time constraints on how fast we must close on these deals, we insist on working with only serious and committed buyers. 

If you desire to have your own attorney review any of the closing documents, you are perfectly free to do so.  The cost of your attorney will be yours to bear.  The actual closing will take place at our attorney’s office since title work in most cases, has already been ordered by us.  In addition, our title companies/attorneys are familiar with the different types of transactions we go through in our wholesaling operation.  A normal seller to buyer transaction is quite different than one involving an additional party like us, the wholesaler. 

Thank you for your interest.  I hope this summary was clear and concise.  We look forward to a long and mutually beneficial relationship with you. 

Respectfully,


Mikk Sachar

Owner/Founder
RehabVault.com
© 717-578-9601
Efax: 866-703-5117
Email: mikk@rehabvault.com    

PS.  Please send us your buyer credentials now.  Our wholesale deals are truly below market and sell quickly.