Owning a property can be viewed in two different ways: an asset that could be valuable for long-term investment or liability that is draining cash due to repairs, real property taxes, and other maintenance fees. If the property becomes a financial and emotional burden, people would rather sell and have cash now instead of making improvements, waiting on a qualified buyer, and paying an agent’s commission to boot.
Given the urgent need for cash, most people would readily trust any willing house buyer even if their offer is a fraction of its actual market price. With the apparent demand for direct cash buyers, Nolan Johnson, NoJo Homes founder, bridges the gap between the seller’s need for cash and their plan to dispose of a property minus the hassle. Unlike traditional means of selling a property, Nolan instantly offers to buy properties regardless of its condition or situation.
His house buying service has helped hundreds of sellers out of many different unique situations in a hurry: paying the estate tax and real estate tax for inherited properties, unloading problematic tenants in a rented property, relocating to another place, liquidating properties for divorce, falling behind on mortgage payments, facing possible foreclosure, protecting their credit, selling a vacant property, or not wanting to deal with repairs and structural problems.
Seeing that he pays cash ‘as is,’ there is no need to make repairs and improvements, pay all commission and closing fee costs, and conduct multiple showings and open houses.
Before earning his reputation in the house buying industry, he met his mentor at 16 years old, who sparked his interest in entrepreneurship. Being a new entrepreneur, he did not only want to make money, but he also wanted his business idea to have a purpose. Coupled with his mentorship, he applies six core principles in his life that were instilled by his parents into his head for years: integrity above all, keep your word, tell the truth, do the right thing, treat others how you want to be treated, and be nice.
Despite his success in the field, he had no interest in establishing a real estate company. However, seeing the vacant properties in his community that needed a lot of work, Nolan saw sense and potential in buying these properties. He started sending handwritten letters to their owners and eagerly waited for their reply. His first seller, who he calls Carl, sold his house as there was a tenant who had stopped paying and destroyed his house. Upon agreeing on the fair purchase price over the phone, they closed the deal within a few weeks.
Whether it’s a global pandemic or a credit crisis, finance experts say that a healthy housing market will always go through cycles: recovery, expansion, hyper supply, and recession. While there are adverse market forecasts due to the coronavirus situation, it is unlikely to result in a housing market crash similar to that of the 2008 housing bubble. Nolan is confident that the properties on the market will retain, if not increase, their value.
Learn more about NoJo Homes and Nolan Johnson’s strategy by visiting the company’s website.
