Classifieds
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal



Real Estate Classifieds
Reviews & Feedback
Updated 2 months ago on . Most recent reply
Looking for local wholesalers in the Allegheny County area (Pittsburgh, PA)
I am a buyer. My day job is commercial real estate development. I am considering adding a focus on doing value-add with smaller assets (fix and flip) that we can take down without investment.
Preferences:
I am looking to turn a minimum $30k profit per deal after all costs (renovation, acquisition, fees, taxes, financing, closing, etc.). I can do all cash up to ~$200k.
I would prefer properties in higher median value areas that can be priced just under median value after repair.
Bed / bath count is dependent on area. Looking to be near the median for the area. In the city? 1 bath is acceptable. In Wexford, 1 bath is unacceptable. You get the idea.
Goals:
I would like to close on 3-5 properties this year and ramp up to 12-24 next year.
I have been considering spinning up a marketing department to create a reliable and consistent pipeline, but I would rather focus on my core competencies if possible and work with effective wholesalers.
PA Act 52:
I realize there are new laws regarding wholesaling in PA. I am open to but would prefer to avoid double closing. All the money spent on fees and taxes should be in one or both of our pockets. I would be super interested in alternative arrangements like entering into a consultation agreement with a wholesaler, putting the wholesaling fee into escrow with the agreement (payment to be released upon my closing on a contract facilitated by the wholesaler), wholesaler would identify an opportunity, and I would enter into a PSA with the seller which should get around Act 52. I realize there is a trust issue there. I am hoping escrowing the wholesaling fee can rectify that. Food for thought.