All Forum Posts by: Tyrone Little

So I recieved a call from one of my Guerilla Marketing strategies (slipped business card in the door of a property thats an estate sale) ..I talked to the son of the deceased and he told me a little bit about what was going on and what the issues are. ( many properties, many children and no one agrees )..The property has been listed  for about 3 months along with a couple of other properties that needs to be sold too. ( All of the properties are WAYYYY overpriced )  Since there was much bickering they decided to let an attorney handle . I was able to get the attorney's number from another sibling and we talked (building repoire) 45 mins this aftrenoon. It seems that the two oldest children don't really care for the attorney but since there are disputes, they know of no other way to handle. They also state that the contract with the listing agent can be cancelled as well.  The 2 parties I talked just want to get rid of the properties and be done, it seems like there are quite a few family members that will get a share of the pie.

My question is : Do I call the attorney and inquire about property and risk possibly alerting the listing agent to a possible sale therefore making it harder to get that deep discount needed in order to make this work.  I say this because at the price these properties are listed at, there has to be a relationship between the atty and agent. 

No real repoire was built. I was just asking basic questions about the property and reason for selling. I did however send a follow up email explaining that I am wanting to create win-win situations for the both of us along with helping out if possible with whatever the issue is or may be.

Hello guys..

I just have a quick question.  I am fresh out of the BP classroom on wholesaling I have a seller that I am communicating with and they asked me was Iooking at the house for a flip. I am wondering how should I have answered the question.

My answer was that my partner and I are real estate investors and we invest to make a profit yes.

It was at that point that the communication kinda of broke down and they are avoiding my calls and emails.

I am wondering if my response was the best one to make.

@Oiluj Lopez Thanks man I'm seeing the same thing .

@Erick Pough What I'm learning is that "not every deal is a deal "

I commend you on the action that you are taking. I'm finding that to 

be the main challenge we newbies face. Good Luck out here !  

Does anyone know what to do in the Reading, PA.  Market ?

I have some leads in the city but the value of the houses are 

so low I don't see how a profit can be made by anyone trying to wholesale 

a property.  I can't even get a grasp on the numbers to make an offer.  

Please anyone with any advice would be appreciated.

@Gerald Harris

@Andresa Rosa

@Toni Mungro

You guys make learning this process so much easier (School of Hard Knocks). Thanks for the assistance and comments. The time to convert the property as well as the actual makeup of the neighborhood ( SFR or Multi Units ) is something that I hadn't thought of when the idea came to me.

I'm thinking that it may be a easier sell to a end buyer as just a SFR is the numbers work.

Thanks @Andresa Rosa

Yes it is zoned as a SFR and it would need to be converted to a multi-family. I am thinking that I could attract more buyers this way because there may not be thank much of a market for 6bdr SFR's.

I will have to really estimate most of the data that investors really want to see, because as stated its as it sits now a SFR.

BP Nation I have a lead on a multi family property I the surrounding area of Philly, and I need some assistance on how to analyze the deal and how to market it. The issue is that it's a 6 bdr property that would need to be converted. I figure those costs would be much higher than a normal fix n flip and also what's the best way to market that to potential buyers? Any help is appreciated. Thanks

Welcome @Martina Fripps

Look like you have a plan that you want to execute and I applaud you for that. I may be wrong here but a 200k loan with a pmnt of $600 doesn't seem correct. Did that pmnt include taxes+ Ins as well as possibly PMI ?