Tips for First Showing

[Ryan Tagliamonte]

Hi all! I decided to make the jump today and call a few different real estate agents for a couple of properties that I'm interested in in Philadelphia. After a couple of good conversations with some agents, I have a few showings scheduled for this Saturday October 10th. Because both myself and my business partner are new to this, I'm a bit apprehensive/nervous for what to expect. I understand that I'm not going to be walking out of these showings with a deed in hand, but I'm wondering if there is anything that any of you have experienced that would help to optimize this process the best for us? As mentioned, we're viewing a few in the Philadelphia area and are interested in finding the right deal to execute our first flip. Obviously we're looking for a low cost place that's going to need some work, so I'm curious what sort of successful tips and tricks any of you may use when you go to check some leads out (if you fancy these types of properties/deals)! I'm hoping too that this level of novelty in terms of the process doesn't last long and I too can begin to help others in this process. Genuinely surprised at how intimidating it is. 

[Kristy Pedersen]

Hi Ryan! First of all, congrats on getting started! It will be a fun learning experience. 

I'd recommend first understanding what the comps are in the neighborhood. Depending on the neighborhood it might mean within 1-2 blocks. Your likely going into an old house that might need more work than what looks like on the surface. Depending on your strategy, you'll have to see if the amount of work adds up to make it worth it. For example.. I can almost guarantee if you see outlets in the baseboards it means very old electrical, lathe/plaster walls, plumbing, mechanical. I always prefer assuming these jobs are near full gut renovations to abate all that lathe + plaster, upgrade mechanicals, plumbing, ect.

If this is your first time venturing out in the Philly market see a few before you make any decisions. 

Good luck!