All Forum Posts by: David Emanuel

2219 W Oxford St Philadelphia PA 19121
North Philadelphia, PA 19121 3 Story (NOT IN MLS)

Rare Off Market 3 story SFH in Brewerytown 19121. Property is cleaned out and ready for immediate demo/renovations. Zoned RM1 and can legally be converted to Multi-Family. On lockbox and will be delivered Vacant. Reach out to Dave at the number below to make an offer or schedule a walkthrough

5 Bedrooms and One Full Bathroom

Buy: $130K
ARV: $350K plus

Closing on April 16th, 2024.

For more information please contact me at
Cell: (215) 795-4820

@Brandon Matos check out her channel & watch her videos. Come up with your own opinion. First wholesale deal off the MLS

@Terrell Garren

As I said, whatever you believe is correct. This guy said he is trying to do his first wholesale deal. This is probably his first real estate deal he is trying to do period. We don’t know his situation, and I don’t think he should be discouraged from trying to do it that way if that’s what he wants to do. It’s not impossible, and it’s one of the ways to get started in this Buisness with no money.

Maybe it’s not as sustainable as the other ways to wholesale, but it is possible, and it’s a way to get started, learn some new skills, build relationships, and make some money

I just want to say this, If you believe you "can't" wholesale deals on this MLS, then you are correct. If you believe you "can", then you are also correct.

I don't totally agree with the post above, but they do have valid points. It is possible to wholesale off the MLS, it's just more difficult. If your going to go at the MLS for wholesale deals, your better off going at them AS SOON as they hit the MLS to avoid Wayne's point about the whole world seeing it & not buying it. You'll definitely want to have POF which you can acquire from a google search or by building relationships with hard money lenders. You'll also want to be pretty accurate with your numbers as far as ARV & repair cost. Essentially, you need to have your ducks in a row.

You don't need your own agent to do these deals, it actually would be to your benefit to build rapport with the listing agent, & to let them know that you don't have an agent representing you, & that they can represent you & take full commision on the deal. You'll have to use the standard realtors contract (All contracts are assignable unless it specifically states on the contract that it is not), & if you can't find an assignee within your due diligence period, you walk away from the deal. You really don't want to make a habit out walking away from deals though, so I highly suggest you are accurate with your numbers.

It is definitely way more difficult to wholesale MLS deals, but not impossible.

Good luck

Thank you guys for your responses, very helpful!

Hey BiggerPockets!

So I started wholesaling here in Philly in October 2020, & so far I’ve had some decent success. I’m closing on my 5th deal on Monday, & I even found my own personal residence that I closed on during my journey.

I recently got a good understanding on KPI’s and how to track them, & I want to tighten up on my own KPI’s to have more predictability with how many deals I can do per month.

My question is, what do you consider a "lead"? Specifically for outbound marketing (cold calls). Is it ANYONE who says that would sell their property, including the people who say they want a ridiculous number. For example, the person who wants $700,000 for their property that has an ARV of $150,000. I find that a lot of those are just finding a sarcastic way to say that they aren't interested in selling.

Your input is greatly appreciated!

Nice! Go for it!