All Forum Posts by: Gary Heft

Thanks for the insight guys. You're right, I'd be doing all the work unless I uncover something over my head. The DOM's have gone up quite a bit, we're sitting a little over 50 days now. I guess I should run numbers on comparables instead of overall market trends though.
It's terrible to think that I'm in a position where financing a 57k deal is a real concern. If I had it laying around I'd probably be starting work on the place this week. Thanks again.

Here's a potential property I looked at over the weekend and would like to know your thoughts.

Single Family home
1200 Sq ft
Purchase price $57,000
Rehab: $2-3k
Previously sold in 1995 @ 94k
Comparable rentals in the area range from 775-900/ mo
Comparable sales range from 87 to 125k

My thought is with some interior cosmetic work, lot clean up and mainly exterior work needed, it should sell quick for somewhere in the 85-100k. It's a mile or two from my house so I'd be doing the majority of the work

Would you guys want to buy and hold or look to flip?

Any insight on the numbers would be great.

Thanks,
Gary

Hi All,

I'm a small time investor (currently have a 2 unit buy-hold property). I live in the western suburbs of Philadelphia, I'm looking to find a local investor to possibly team up with. I'm looking at all these deals around and don't have enough capital to take advantage of them. I have limited funds (willing to do everything 50-50, not trying to find someone to fund all), I've been in the construction industry for +/- 20 years so I'm the type of guy who wants to buy and do most of the work too. Not looking to build a Trump-like portfolio but want to stay busy one piece at a time. If you're local to Montgomery/Chester or even Berks Counties, let me know if you have interest.

Thanks,
Gary

PS. Great site, thanks for the resource!