All Forum Posts by: Anthony Martin

What virtual assistant companies would you recommend for doing outbound cold calling for wholesaling real estate? I would like to hire a VA for 40/hr per week and keep my monthly cost under $2000. I have my own call script and I would provide my own cold calling list. Any feedback is welcome.

Any wholesalers in the Pittsburgh area have recommendations for a good closing company? What Purchase/Sell Agreement and Assignment Contract templates do you use? All feedback would be greatly appreciated!

@Marcus Geiser Thanks. This was very helpful. My main concern with being inexperienced is being taken for a ride by contractors. I want to approach the rehab with a top/down approach, but making sure the house is secure is one of those things I would have undoubtedly missed, so thanks for that. Are you currently working on any projects here in Pittsburgh?

I'm new to house flipping in the Pittsburgh, PA area. For those who rehab homes for fix and flips, what are your preferred sequences for rehabbing a home? I want my first rehab to go as smoothly as possible.

Looking to flip homes in the Pittsburgh area focusing on 15212, 15229, 15237 and 15209. I am looking for an experienced house flipper who I could shadow on a few projects to get some experience. I am currently wholesaling and would like to bring deals to the table that we could do a 80/20 profit split in your favor. You can message me on BP or email me at [email protected] if this interests you. 

@Steven Ko , to answer your questions directly...I'm looking at this from 2 angles. Again, this is all hypothetical to get an idea of if I'm looking at things correctly. 

Option 1: Having 35K in readily available funds, I would consider wholesaling this deal. The property is in distress and the owner doesn't want to deal with it. To solve their problem I would consider the 22K lien and make sure there is not a mortgage attached. Title insurance and any mortgage lien would be paid by seller and I would make sure to get a warranty deed. So, if indeed there is only 22K in liens and back taxes and the seller is paying for title insurance as part of my contract, I personally would try to find a buyer for 50K. Given that a home sold last month for 175K about 20K above asking price and it is about 300sqft smaller with 1 less bedroom.

Option 2: Use my readily available cash to pay off liens provided the title comes back clear and free and there is no mortgage attached. Partner with someone(s) to fund flip. I have a contractor, just no funds. Providing I get him out to give me an estimate. If the estimate were 60K (accounting for major repairs), I would be 85K all-in. With a listing price of 130K-150K. Again, that would be low considering the location and comparable comps. 45-65K profit, minus any closing cost, etc. I would be willing to do a 40/60 split in favor of other investor in turn for the experience.

@Steven Ko , thanks for the insight. Though, I feel the need to clarify a few things concerning this property and my intentions. I am a complete noob and do not yet know all of the terminology. However, I learn by doing or foresight and calculations. I want to get feedback from seasoned pros if my approach to looking at this is correct. I feel like you and many others have answered that. However, a part of learning for me is knowing why this wouldn't be a good idea? There are currently 2 houses on the market in the neighborhood going for 125K and 140K respectively. A 844 sqft home a few doors down recently sold for 175K. This one is over 1100 sqft. The home is in a really great neighborhood seeing that the home has been abandoned for over 4 years and there is no broken windows or vandalism of any kind. The owner lives out of state and hasn't paid taxes resulting in the lien. Like @Lydia R. mentioned, I would have to get with the owner first to see if they're willing to sale. I'm purely looking at this as speculation and what strategies should I use in a case like this. From what everyone is saying, this isn't a good deal. I guess that's the part I'm not understanding. Again, probably because I'm a complete noob. I'm trying to make as little mistakes as possible, while making the most money as possible. Of course there is a need to get a contractor to look at the property to get an repair estimate, but looking at the property and inside the windows, I'm not seeing much on the surface. Hypothetically speaking, why would any of you pass up on this opportunity? Inexperience set aside. 

My @mentions are not working but I do appreciate all of the feedback. I will look into the text you suggested, Will, and consider finding a specialist near me, Craig. There is still a lot I don't know about wholesaling, Lydia, but I will consider your input.

@JonKelly , I'm completely new to this whole process and trying to learn as I go. Most youtube information and books aren't market specific. I guess my strategy right now is using the cash I have to generate more cash to fund flips. I guess I'm looking for the most expedient ROI at the moment. Renting isn't on my radar at the moment. Your insight was very helpful though, is renting something that should be on my radar?

So, I've been eyeing a property that has been abandoned for a few years now and has some back taxes and tax liens totalling around 22K. My plan was to buy the property. The current Zestimate is around 115K. My only concern is this is my first purchase and I'm not in the position to fund the flip. I figured that if it is rehabbed it will probably sell for 140-150K. Should I just buy and hold the property until I can fund a rehab or consider wholesaling the property if the title comes back clean? Is this a good deal based off of this information?