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M.Everyone has a plan for what to do if their house catches fire. They know where important documents are, which exits to use, and what to get when there are only a few key moments to get out of Hell. However, far fewer people have a plan for what to do after their home catches fire.
Norwalk-based Joel Efosa created Fire Cash Buyers to make it easier for people to find their next steps without the pressure they are already facing during stressful times.
Efosa found its way into the real estate business by building a website about roofing. He used search engine optimization to top his Google rankings, generate leads, get calls from people looking for roofers, and sell those leads to roofers.
“That’s when I realized, why don’t you use this skill?” Efosa said, recalling the origins of his business. He got in touch with a friend who runs a marketing agency to further hone his skills. He also worked as a Business Systems Analyst at JP Morgan His Chase in New York City and wanted a business he could run while commuting. However, he was initially hesitant to enter the real estate business seriously.
“My father had been in the real estate business since I was a kid, so I hated the idea of renting,” recalls Efosa. “But I said, ‘I’m old, so give me a second chance. I have two kids and a third.’
The final push came when his wife finally said she wanted to work in real estate.
“So I looked it up and built a site in Connecticut and talked to homeowners who wanted to sell for cash and got leads,” he continued. I didn’t realize there was a completely different piece of property they wanted and they want to sell it and walk away and then you can either restore it and rent it out or sell it and make a profit can be raised.”
By focusing on the most unique leads from his first site, he found the owner of a fire damaged property in Indiana. The rental property had no tenants, and the city was pressuring the owner to either repair the building or tear it down. A lien threat was also raised by the city.
“I love listening to people, I love listening to people. I want to see how I can help,” said Ephosa. “So I wasn’t making any money with that lead, so I actually signed that contract to a local construction company.”
He soon realized that, despite relatively low demand compared to conventional real estate, there were fewer specialists in fire-damaged properties and a resource for those trying to decide what to do after a fire. We found that the number of
“What I’ve found on the internet is a lack of information about handling fire-damaged properties. No one is really talking about it,” Efosa said.
His approach is to help match people who need help selling or repairing properties and are actively seeking it, though some take a more proactive approach. Working people need information on how to move forward in their lives when they are ready.
“Some people call someone when they’re having a hard time. Maybe they’re still going through the trauma, but we’re not trying to profit from someone else’s misfortune. No,” he said. “We want them to be ready. So no one wants to force them to sell their property.”
The strategy worked. A constant stream of people seeking information has resulted in Efosa hiring four of her contractors to handle the site. He plans to hire four more in the near future.
Efosa says finding the right niche is the key to real estate success.
“Anyone interested in real estate, whether local or national, should seek a place in a market that is not yet full of people,” he said, encouraging others to take up property. “Because of the lack of information, there are all sorts of different markets that you can enter and establish yourself in. We can make it work.”
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