How accountants find value added with real estate investors
At Handsome Homebuyer, we buy hundreds of houses and other properties. If you look at our referral sources, many are accountants. Accountants are the first to know when a person is in financial trouble, is inheriting property, or planning to sell a business or property. They can be excellent referral sources and we can be the perfect buyer for a wide range of properties their clients are trying to sell.
A value add for accountants
When someone’s planning on selling a property, an accountant can sometimes help, by referring the seller to a real estate investor such as Handsome Homebuyer. We have the resources to handle any problems, the cash to close and the will to make deals work. On the commercial side, accountants are obviously doing the accounting for businesses and properties. A lot of times, accountants refer us to a client who has a family owned business. The property can be worth far more than the business. And they might need some flexibility with the sale date. They’re still operating the business. They want to be discrete about the sale.
Selling the property
We recently bought piece of property that had been a service station. A mechanic owned the property that had been a gas station. He couldn’t sell the business with the property. Any mechanic who was going to buy it didn’t have the capital to pay for the property and the business. The property was worth more than the business. He was the business. Without him, the business couldn’t run. And he was retiring. He didn’t want to retire for another year. We went under contract, subject to getting the approval to build what we wanted to build. He got to run his business while we were getting the permit. We closed.
A new lease on life
We have connections, construction know how and the ability to find ways that will add value to a property that would be difficult, or impossible, for the original owner. In the case of the mechanic selling the service station, we plan to build a Roy Rogers location. Roy Rogers is coming back to Long Island. This is slated to be the first site. We had the ability to add value, by finding a new tenant after we rebuild. And that benefits the seller, by letting us pay more.
Handsome Homebuyer works with many accountants who refer us business. I’ve met accountants in networking groups. We want to build a relationship, benefiting accountants and their clients, while building our business. I pay accountants a commission or a referral fee. The accountant gets a fee and helps his client out. The accountant serves his or her client – and gets some compensation from us for bringing us the business.
In other situations with accountants, we have helped resolve issues. An accountant reached out to us regarding a rental building caught in a partnership dispute. He was the accountant for the building, representing one of the partners. He reached out to see if we wanted to purchase the property, so the partners could have clean split. We bought the building.
We do it your way
When accountants refer us business, that can lead to various arrangements. We handle things in whatever way they like. Some accountants like to act as the middleman. They have the relationship. At other times, the accountant says, “I’m going to make an intro. Speak with the current owner.” We’re happy to work either way and either way, the accountant gets a referral fee. They can come to me for everything as a one-stop shop. We purchase a wide variety of properties, are extremely well funded and we always deliver.
Personal accountants come to us when there’s a property in an estate. We have worked with accountants who are 1031 exchange experts, small and larger accounting firms. Accountants also come to Handsome Homebuyer in situations where their clients are in financial distress. Let’s say someone is behind on their mortgage with equity, but running out of time. Or there’s a tax lien. They come to us and say, “Would you like to buy this property? This person doesn’t have a lot of time.” We buy it for cash and without the protracted process that can go with a mortgage. Handsome Homebuyer can help accountants and their clients, providing cash for property. For the accountant, we’re added value. For the seller, we’re a reliable, professional path to a sale free of the uncertainty that surrounds so many of these transactions.