All Forum Posts by: Antoine Joseph

I'd say the best thing you can do pick a marketing strategy and keep working on it everyday. It may take a while at first but don't stop until people are calling you to buy their house from them. 

Welcome to BP, there's plenty to learn on here

Andre,

My advice would be don't be so worried about where the money is coming from. If you can link them to a cash buyer that will pay them the amount that you promised them, it doesn't really matter if the money came straight out of your bank account. The fact is that you handled the deal and the result is what you told them it would be in the beginning. Think about it this way, when people are buying or selling a house on the market for retail prices, they will talk about the agents involved, the inspectors the mortgage brokers, the underwriters, the buyers/sellers but very rarely will anybody mention the actual bank that lends the mortgage. The people who handle/control the deal are the one's that are important.   

Your concern should be that you find a buyer that can actually close. If she or he can close, 99 out of 100 sellers will not care who she or he is. 

Here's a good place to start:

http://www.biggerpockets.com/real-estate-investing

I'd say education in parallel with action will get the ball rolling before you even realize it. 

Mike,

Northern Liberties and Fishtown are definitely are definitely going to have high purchase prices (compared to other Philly neighborhoods not high by NYC standards) because they are the hot neighborhoods. Ten years ago they were high crime areas that have been completely turned redeveloped into booming areas (Similar to many parts of Brooklyn).  You may also want to look into neighborhoods that aren't as "trendy" but have been relatively low crime professional and working last neighborhoods for decades. You might find more deals in northwest and northeast Philly because there's not such a spotlight on those areas. 

It all depends on how much you want to do to the house on your end. The whole premise behind offering below market value for your house is that they will buy it "as-is" and you will not have to deal with the issues that come with renovating a house. They will also get your house sold quickly. If there is a time crunch to sell your house, they will have the fastest means to get your deal done. 

However, If time is not very crucial and you decide to make renovations yourself, you should research reputable contractors and have them do the job to your satisfaction. Then find a real estate agent that will get you top dollar for your house. 

That's my 2 cents at least. 

Welcome  @John Kim, I am a wholesaler in the Philadelphia area as well. Good luck with your new business. Keep learning and taking action at the same time! 

I agree with @Terrell Brown and would add Pennsport and Passyunk Square. 

Thank you all for your input, sorry for the late response. The seller went cold on me after I made this post and never answered my calls again. I will probably call him back in another week or so to see if he would still consider selling. I will keep all your suggestions in mind for this deal or future deals. Thanks again!

@Brandon Eleazer I use the cash comps to get an idea what the investors are paying in that area for properties.

Where is Germantown Title located?