Investor · West Chester, PA · Member since 2019 · 66 posts · 53 votes
I've been looking to invest around my hometown of West Chester, PA. I would like to stay within 50 miles of my home and I'm looking for value add opportunities. I am an agent and have access to MLS (brightmls) but if you have anything that sounds like a good deal, let me know ! We can work something out!
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
2y
One of he biggest mistakes I see investors make is prioritizing "off market" real estate. A seller with an over priced property that's not listed on the MLS is by the technical definition "off market". A wholesale/assignment property that is sent to a buyer list of hundreds of the most unsophisticated buyers is by the technical definition "off market". Focus on buying quality real estate regardless of how it's marketed. Some of my most profitable real estate transactions have been MLS purchased. I've also purchased plenty of real estate that hasn't been on the MLS but I will never view an opportunity that's brought to me off market as being better not will I prioritize finding off market real estate. In fact from my experience listed properties tend to be the easier transactions because the sellers are generally more reasonable where I can negotiate the best settlement terms, contingencies etc. These are things I value and the novice investors sweep under the rug because they only believe "off market" real estate can be profitable and get caught up with rushed settlements without conducting proper diligence on bad real estate. Just something to keep in mind when sourcing your acquisitions.
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
2y
One of he biggest mistakes I see investors make is prioritizing "off market" real estate. A seller with an over priced property that's not listed on the MLS is by the technical definition "off market". A wholesale/assignment property that is sent to a buyer list of hundreds of the most unsophisticated buyers is by the technical definition "off market". Focus on buying quality real estate regardless of how it's marketed. Some of my most profitable real estate transactions have been MLS purchased. I've also purchased plenty of real estate that hasn't been on the MLS but I will never view an opportunity that's brought to me off market as being better not will I prioritize finding off market real estate. In fact from my experience listed properties tend to be the easier transactions because the sellers are generally more reasonable where I can negotiate the best settlement terms, contingencies etc. These are things I value and the novice investors sweep under the rug because they only believe "off market" real estate can be profitable and get caught up with rushed settlements without conducting proper diligence on bad real estate. Just something to keep in mind when sourcing your acquisitions.
New to Real Estate · Downingtown PA · Member since 2020 · 46 posts · 38 votes
2y
@Geoffrey Paugam Lancaster, Harrisburg and Columbia areas are pretty good for that. There’s a couple Facebook groups where investors post off market properties
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
2y
@Geoffrey Paugam If you are on the MLS but only looking at "expired listings, sheriff sales, withdrawn listings" coupled wit your call for off-market opportunities it seems you are prioritizing every avenue to buy above actively listed MLS properties which in my opinion is a mistake.
Investor · West Chester, PA · Member since 2019 · 66 posts · 53 votes
2y
I look at active listings also. I look at anything that the numbers make sense. I didn’t mean for this to sound like off-market is the ONLY way, it’s one of the many ways I like to use personally.
Property Manager · 17112 · Member since 2016 · 271 posts · 151 votes
2y
If you have any interest in the Harrisburg, PA market or it's surrounding areas (Dauphin and Cumberland counties) please reach out. I'd be happy to assist. There are still plenty of deals around here depending on what you're looking for.