All Forum Posts by: Pete Perez

@Andre M.

Another way to find out would be to pick up the phone and call some property management companies in that area and ask them. Phrase the question as "I am looking to buy property in this area and wanted to know if you manage properties in this area?" When they say yes ask them if they notice a difference between units that have newer HVACs in their rents. If you set up the call as a prospective lead for them they will answer your questions. 

@Joe Odere

Best way is to go to meetups and talk to people doing it and get their perspective. If you know what their price points are then thats what yours should be. 

If you want to do some independent research you could start by doing this:

1. Grab a beer

2. Go to redfin or zillow and look at what homes in your area have sold for in the last several months and try to interpret what your seeing

3. Look at the homes that look rehabbed and see if they were purchased within 6-10 months of their most recent sale. Chances are thats a flipped house and you can find out what they paid for it and where they got it

4. Go to chamber of commerce website and find the major employers in the area. That can give you some reasonable expectation for job growth in the near future 

That is a good way to dip your toe in the water.

@Tyler Jahnke

Which company did you use to buy that property in Indy? Was it a smooth process? 

There are a number of reasons why investors love wholesalers. But essentially your first question answers your second. Its a time value problem. Is sending letters, developing the lists, negotiating with sellers worth the time it takes to get a deal for some investors? Some yes some no. The demand for good wholesalers is there and some people make a killing doing it because they kick *** at it. 

@Douglas Walker

Congrats on the deal! I hope you can keep it going. 

I'd like to offer some friendly advice. Instead of phrasing it as "I marketed the property" I'd phrase it as you were "Marketing the contract to purchase the property". It is a little thing, but it could save you some grief. Lots of people arguing about that right now.

Congrats again and keep it up.

Pete

@Solomon Oh

Absolutely this is the one I attend just about weekly Meetup

There are a couple I go to in Pierce County. Let me know if you're interested and I can share that link as well. Best of luck and hope to see you at the next one.

@Edford Banuel

Welcome to the site. BP is a great place to learn and meet new people. I'd also recommend attending local meetups as often as you can. You can find local meetups here:

Click Here

@Marco G.

I use the Robert Campbell trackers. Building permits have slowed down, and interest rates are up .25%. So 2/5 indicators are trending negatively, but overall its still positive. Prices are definitely very high still. The next few months will be very telling. 

I haven't made my way up in that area yet. I meet at a few in South King County. I go into Seattle once a month to a meetup, but the rest are in South King County. 

@Eddie Atkinson

Just because a person lives out of state and has equity doesn't mean they are willing to sell. There isn't any inherent motivation in that list. You may mail to someone who is going through something just at the right moment you mail to them. For the number of letters you're sending you need a more targeted list.