All Forum Posts by: Mike Pastor

Is it liveable right now? What is the monthly PITI? If you can cover PITI with the rent it will bring in, in the current condition, then you can take it subject to, pay it down for X amount of years, get the loan amount down to a point where it is worth your time to flip, then flip it.

If the property is boarded up, chances are it's vacant right?  A good skip tracing service will get you the info you need.  Definitely check the county site to make sure it's not bank or city, etc.  owned first.  

If you have any questions about wholesaling or whatever, feel free to send me a msg anytime.

There are 3 parts to consistent deal flow:  1. You going after prospects - I typically stick with people that have had an "event" occur to change their situation.  I direct mail these prospects.  Depending on the "event" that's occurred, I like both postcards and letters.  2. The prospects seeking you out - How do they find you?  Bandit signs, flyers, newspaper ads, etc.  Have an online presence - facebook, website, etc.  What makes you better than any other "we buy houses" company?  The story that you put out there about yourself or your company should be one that gets potential sellers to recognize that you can relate to their situation and that you can provide the solution they need.   and 3. FOLLOW UP!!!!!

There's my little bit :)

Yes, what @Account Closed said...

@Rob Beardsley Hi Rob, I am not a big fan of holding rentals for student housing in general.  Never have been.  There are a lot of landlords that are and do very well with it.  The areas you mentioned are good in that aspect, but I think the young professional is the way to go in those nearby neighborhoods.  

Thanks James.  That is useful information.  However, I'm not really looking to buy MF's in Allegheny County.  I stick to good school districts in Westmoreland County.  I'm just looking for input from people that are actively investing in MF's so that I can focus my marketing to those areas.  

The house doesn't have to be awful.  I've wholesaled a bunch of move in ready houses and multi units.  

You can't shoot for a percentage of ARV to get the house under contract at. It would depend completely on repair budget.

A general rule is ARV x 65-70% or whatever - repair cost - wholesale fee.....is the max you can offer

I like them all as well (except craigslist), but I don't really find many deals on the MLS in my market. It depends on what kind of budget you have. Driving for dollars and bandit signs are going to be the most productive starting out on a lower budget. When hanging signs, set yourself apart from the other that are out there and experiment with different language and colors. Don't use your personal phone number....if you get a call from the sign police, just take the signs down in that area.

Direct mail is great.  Follow up is the key.  

SEO is a long term strategy.  It could take many months to see results depending on how competitive the market is, and it's important to have a good platform.  PPC will deliver immediate results but can be very expensive.  

Yes, Ryan Fisher at PV Settlements LLC is the man

If you had to choose just 3 neighborhoods around the Greater Pittsburgh area to buy and hold multi units, which neighborhoods would you choose?  (obviously neighborhoods where multi's are prevalent)