All Forum Posts by: Alex Deacon

@Sanil Subhash Chandra Bose we have purchased hundreds of tax lien and mortgage lien properties at the Allegheny county sheriffs sale in Pittsburgh. Until you know the process you do need a good RE attorney who knows the process well. All attorneys are not created equal. Clear the title in whatever way needed so you can convey good title to the next buyer. I cant comment on how long that will take but a good RE attorney will expedite the process and you will learn a great deal on this property so the next transaction will be easier. Quiet title can be done in 3 months if its done correctly and efficiently. 

@Dennis Stewart we have purchased hundreds of homes at tax and sheriffs sale. We have dealt with 20-30 squatters. I would get a good attorney just in case your efforts dont work out. You also better post notice once you get him out that you are throwing away his belongings. Check with the township on how much time you need to give him. If not he can sue you post eviction for discarding his belongings. Even if they have zero value. We have had it happen.

@Michael Gross we manage over 800 units and we have a lot of out of state owners. In most cases when they self managed we take over a real mess. They dont have the repair staff, a good local attorney, an ability to properly screen the tenants etc.. I could go on and on. I have seen very few do a good job on their own remotely. Finding a good team is difficult and even finding a good local property manager is no walk in the park. 

@Denise Holder if its not a rental property and your primary residence or a second home then most hard money lenders wont touch it. If you have enough equity then perhaps a bank or credit union will do a Line of Credit.

@Brayden Fimple I dont have any scripts but I have been in RE sales and Investments for 30 years. I would be quick and concise. lead the person and control the conversation with questions that will stay on course with your end goal. 1. Find motivation 2. Timing 3. Problem solving

The most important is to come from a place where you are trying to help them. If you can solve problems for people you can feel good about what you do and also make money. 

@Elad Itzhari I have worked with hundreds of out of state investors over the years. I am focused in the Pittsburgh PA Market. I think we still have a good amount of inventory but finding a good property here takes time. Not only to find the deal but more importantly educating and raising your own real estate I.Q. 

I would focus on markets withing driving range of where you live. This will increase your ability to learn the market and make the best decisions. If thats not possible then perhaps Pittsburgh could work for you. Let me know if you need any further information about the market here. 

@Zahmir Brooks-Smith we are based out of the Pittsburgh PA market. Here is drying up also. You have to try and test. One specific area may dry up and another may flourish. Track all of your results and hold your money, time and resources accountable. The answer to your question is Just About Everywhere is where you source deals. If it was an easy solution to your questions then everyone would do it. Out work and out think your competition

@Luca Perinuzzi google vinebrook homes. They purchased thousands of homes. They are not doing so good. I know the Pittsburgh market but not Ohio. Vine brook was I believe a hedge fund and now they are losing a lot of money. I have heard good things about Ohio but regarless what any agents tell you or other investors, you need to be careful regardless what the market. Start slow and mitigate as much risk as you can.

@Sanil Subhash Chandra Bose we have purchased probably 1000 properties at Allegheny County Sheriffs sale in Pittsburgh. I am too dumb to do this myself and I admit it. My partner does all of the property searches himself. He taught himself. If you spend money it will cost you a lot. On average at the sale in Pittsburgh only 8% of all properties on the list actually sell. Some get postponed, some get stayed, some the upset price is too high, some the paperwork for notices was not sent properly, some Bankruptcy and some other reasons. So if you are doing a search on 20 properties and you use the 8% that I had watched over a 8 year period there are very few that you will actually be bidding on. Then the fierce competition are all going after the few properties. I would take some courses or at least pay an attorney to teach you. Then you can get really good at it. Now that Allegheny county sale has gone online our purchases have dropped by 80% because of the competition and buyers over paying online

@Dave Hyer if it is a really good deal I would get in touch with a very knowledgeable local real estate attorney. We buy a lot of properties at tax sale but here in the Pittsburgh market. You can usually post pone the sale if you make a payment towards the balance and work something out with the county. I dont know the specifics but if its a very good deal, get on it and see if there is a good attorney who can guide you down the right path