All Forum Posts by: Account Closed

I'll be a bit more specific, the home is being sold by a wholesaler for 30k, the wholesaler stated it needs about 1500 work, I walked through without an inspector and she kind of went up and said about 3k which isn't much but its more and that's before an inspector has taken a look at it. The homes around it are valued at about 80 to 90k, it would be my first buy and hold but I just don't want to fall into a money pit with it. Granted I could learn a ton but I am just a bit weary because the wholesaler has buy and holds also so I am thinking why wouldn't they buy and hold if it's such a great deal, why try and sell? I can only think that a big ticket item needs attention. She stated it could rent about 800, 900 if I made some cosmetic improvements but its a good street in a low income town, so I am just a bit weary. Its being sold as is, what do you guys think? Im in Pittsburgh and the bulk of the workforce is downtown, there's not many work options outside of downtown and this place is a bit far out.

wholesaling is great if you want to get started and learn the market with no money down, I think the key is getting together a network of buyers first and knowing what they want. Then if you come across something you can feed it to them. It actually works both ways you can go up with the buyer or down with your seller, you just have to strategically determine which side has more wiggle room if not both.

thank you looks like it can vary by property and it also gives me the ability to negotiate more. Am I following you guys correctly that the general consensus is HVAC, electrical wiring roofing and foundational issues?

Hello everyone,

When buying a car a bad engine or transmission could be deal breaker for most. Which piece in a home would you say is equivalent? Something that is foundational and that will cost so much work that its not worth it when looking to rent out a home?

thanks guys

thanks guys I'm taking in this advice

Hello all,

I see a property that I think would be a good starter home or is this going to high with too much risk? A coworker of mine is trying to sell a family home that has been inherited. It was initially listed at 115, after 6 months they dropped it to 95, its in a decent middle class town, I mean people arent dying to move there but it is a good middle class town. I asked abiut damages and she said there is minimum which i know needs to be verified. I have been reading and doing the education but I know at some point you have to move on it, my question is what formula do you guys generally use to determine if you move forward or not on a rental property? 

When wholesaling does it seem to be a saturated market? As in multiple wholesalers competing for the same property?

Joe,

I am posting here because I was unable to message you, but I plan on attending tonight.

Thank you,

Ron

hey Joe thank you I'll be sure to make it out, I should have this invitation in my email already. I leave work at 6 so I'll get there soon as I can.