All Forum Posts by: Antoine Joseph

North Philadelphia has population of about 250,000 people. It has one of the top five highest earning zip codes in the city and 3 of the bottom five. I'd agree that you really need to know the neighborhoods before investing in North Philly. However, I do think there are several parts of North Philly that are well worth your investment. You need to have somebody you trust helping you target specific blocks and purchase prices that will allow you to be profitable.

I'd like to hear some opinions on a deal I am negotiating. I am looking to wholesale a 3Br/1 occupied row home bringing in $650 a month. The owner is a tired landlord that would like to make $70k on the deal.

The most recent cash deals for a quarter mile radius are $50k, $53k and $95k. The first two were both 2br shells and the 3rd was a completely remodeled duplex. I will be driving by later to get a feel for the block.

With those facts in mind, what would your max offer be to the seller?

P.S. I started the conversation saying I'd buy in that area from $40k-80k depending on condition of the property, that's when he told me he's looking for about $70k.

Thanks for all of the replies! Souns like the screw gun is the way to go. I'll leave the sledgehammer at home lol.

Josh Rogan the house belongs to a father and daughter. When the father decided he'd rather live in a retirement home the daughter had the place boarded up and never went back inside.

I am talking with the owner of a house that has been boarded up. They are eager to sell the house but it's boarded up and has been that way for a while. The owner agreed to meet me at the house but said I would have to do the actual breaking in. I've never broken into a boarded up house, does anybody have any suggestions?

Braden C. Thanks for the advice, definitely don't want to get a bad rep.

Thank you for the replies.

@Anson Young thanks for the advice, I wasn't sure if wholesalers had success using this method. I do have MLS access and I will be using the MLS in conjunction with other marketing strategies

In my area, I've seen houses listed on the MLS at whole sale prices. As a wholesaler I feel somewhat skeptical about pursuing these leads because there will be plenty of cash buyers that will be making similar offers as I am. Does anybody have experience wholesaling MLS leads and whether they are successful closing these deals?

Thanks Ben Leybovich, I just heard your podcast and it was really helpful!

@Brian Gibbons Thank you for all the information. Sounds like there are several strategies that I need to become more familiar with.

Michael Carbonare Thanks for the insight

Thanks for your reply Michael. I'm pretty confident with my knowledge of wholesaling, not so much with lease option deals. What makes them a good starting point for new investors?