All Forum Posts by: Bill Kenny

I am both and Investor and a Realtor. I prefer to work with Investors both experienced and newbies. I do work in Hagerstown and surrounding areas of MD (Cumberland and Frederick) and there are a large amount of cash deals that take place on the MLS, which suggests there are a lot of investor activity. In my experience the only properties that will sell at 70% of list price are properties that have been listed well beyond the average days on market and/or were not listed at the correct market price to start. The more successful REO listing agents know just where to list the property to elicit the highest and best offer.

In most cases verbal offers or letters of intent will get ignored. I tried this in the beginning and I would usually get a response that stated... " I will present all written offers to my client". Basically the listing agent is saying if you are really that serious with that offer then put your name on a full contract offer with EMD and proof of funds then I will reject it. I put myself in the shoes of the sellers and think how they would feel getting and offer at 70% of list price. The person making the offer would be hard pressed to get a counter and more likely a response several days later stating they rejected your offer.

Its important to help your clients understand the overall market and set expectations. You don't do anyone any service by throwing multiple lowball offers around all day long. If a property is listed, the Seller has representation with a agent who in most cases can inform the seller about the local market and set expectations of when and at what price a property will sell. Following a strategy of making multiple low offers will give you and your Realtor a bad name. 

Best strategy to follow in order to achieve the goal of finding below market proprieties would be a investor marketing campaign.

Hi Ebonie,

I help investors buy properties in Washington and Frederick County. They are really two different markets. We look for buy and holds in Hagerstown and because Frederick has a quicker turn over that makes it better for Flipping. Those markets are so close but yet so different. I own rentals in Martinsburg WV which is very similar to Hagerstown but you avoid some of the extra regulation and taxes. Let me know if I can ever be of any help. I have some great market stats on those markets if you interested. Also @Mike Webb is very active in Hagerstown and may be of help to you as well....

Bill

Congrats Todd! We are on the search for Rehabs flips in Frederick County MD. Love the post.. thanks for sharing. 

Welcome Tom, I love frederick... I'm here as I write this reply. We are working an investment property currently in Frederick. Reach out to Mike Webb. We both have rentals and have wholesaled properties in Md. If your need help finding properties listed on the mls send me a note.. Good luck and happy investing!

You could call Dave Pill's office in Martinsburg and ask for a referral. They do real estate settlements and would know who to use.

Hi Dustin,

Would love to stop by and check out your rehab, I'm in Hagerstown. My office is at the valley Mall. I own rentals and have helped investors buy and sell properties. My partner (Mike Webb) and I are currently working one project and are on the search for another property to rehab. Feel free to reach out so we can meet up soon.

Bill

Hi Drew,

I'm here in Martinsburg, let me know if you would like to chat or meet to talk real estate. Always like to meet local investors.. Mike may like to meet as well.. 

thanks Bill

I'm in!

Nice Work @Robin Secord 

Many people need a shift in mindset and a way of looking at things in a new way. Things you haven't thought of before open your mind to new possibilities and new opportunities. Many of the books on that list are those types of books. Its hard to get that from text books, if not impossible. It is extremely important to understand the nuts and bolts of the business, no one will disagree with that. Motivation is different for each individual and can come from many places. That is a key ingredient in your overall success. Find your motivation, remind yourself daily, educate yourself in the nuts and bolts, surround yourself with good people and take action.

1) The podcasts hold so much valuable information.. never miss a one. New investors should start there. 

2) Meet my business partner @Mike Webb on BP.. The collaborative effort and the accountability of working with a like minded individual is immense. BP is the place to find those type of people. 

3) The wealth of information available on BP is like no where else.. If you can think it.. its been covered..

Thanks Josh and Brandon