Newly transplanted investor
Hey I’m Eric, me and my family just moved to brookville from the Philadelphia area. Back home we flipped and did some wholesaling. I have 15 years of renovation experience, 5 years running my own business and team.
We’ve recently started back up in western pa and are looking to network with investors and agents in this part of the state. We are also having a hard time finding capital due to low population density where we are marketing.
This is great to see you are getting back in the flow. What is the area you are in? Are properties considered to be in a rural area? We are able to assist clients when it comes to rural property financing. We have seen this hold back alot of investors.
The property may just need the right investor to JV with if that is an option as well. If you are looking to finance yourself then those would be some things to look into.
What are DSCR numbers? These play a big role in qualifying the property as well.
Welcome to the forums. Sounds like you have done a lot of good investing pre-BP and it's only going to get better. That sounds like a tricky challenge, for the capital. I hope you sort it out. HML types don't like low population density but local community banks might be a better pick. Good luck!
Feel free to reach out to me at any time for questions that are more involved than a back and forth post.
Much success - happy investing !!!
Bob, the Apiculture guy.
Hey Eric
Congrats on some of your success flipping/wholesaling.
Let me know if there's anything I can help you out with. Our agent team in the area is mostly dedicated toward servicing investors, and we also have a successful monthly meetup group running in the Pittsburgh area if you're ever in the city. Happy to answer any questions you might have regarding the market, etc.
Good luck with everything!
Also, as Matt said above, their team is a great resource!
Hey @Eric Bennington,
Sounds like you have had a ton of success in Philly. Do you still have a team in that area? If so, it may be worth still marketing to and doing business there. I currently have a team in San Diego who is my boots on the ground and I facilitate leads, book appointments, and run numbers from South Carolina. With tech, its crazy what you can do from afar. Just my two cents, might be wise not to close the door on something that was working! As far as your new location and finding capital, it seems like if the deal is right, based on your track record, there are many lenders in this community who would lend to you. I think you will have lots of continued success in Brookville. You are in the right place.
Best of luck to you!
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Real Estate Agent
- http://investwithevergreen.com
- [email protected]