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Updated 5 days ago on . Most recent reply

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Nicholas Williams
  • Philadelphia, PA
15
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Looking for properties

Nicholas Williams
  • Philadelphia, PA
Posted

Looking for foreclosure and fixer uppers in the Greater Philadelphia area/ suburbs. Having some trouble finding deals. Can anyone point me in the correct direction?

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Mike Klarman
  • Specialist
  • New Jersey
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Mike Klarman
  • Specialist
  • New Jersey
Replied

So, the pipeline in to the Philly suburbs is hard to crack into because the deals are good and the good deals go fast and lots of them are held by wholesalers and even the wholesale deals are crap 75% of the time.

@Jeff Henderson and I are local to the area and have connections to various outlets that can offer viable projects.  We get deals all the time that come in, only about 20% of them are worth it and then you have to move quick.  Offer that day and deposit that afternoon.  It's that fast, but if you get in then a good deal out in the Philly Suburbs either Delco, or Conshohocken, or Ben Salem, Bristol will net someone 50k - 75k after taxes.  This is why getting in is so hard, no one wants to give up their seat at the table and there's only so many viable projects to go around.

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