All Forum Posts by: Greg Behan

Welcome @Daniel Kwon

    I too am a local if you ever have any questions feel free to contact me.  Enjoy the site!

Great question.  I know right where you're talking about too thanks to the description!  In all honesty it's the city and there's a lot going on.  The train is going to go by there is going to be traffic and sirens.  I love the idea of upgrading the windows and doing what you can in order to reduce these noises and for lack of a better answer I would have to say that the location should offset the noise, but let it be known that the house had upgrades to reduce the noise and it was priced with that in mind.   I really wish I had a better answer for you but there is only so much you can do about it.  Certainly can't move the train or bridge.

I almost always do windows around here it's a big selling point.  Plus it looks great having all new windows on the house.

I would stick to the group closest to where you plan on investing.

i tend to be "old school" and use a map.  Most neighborhoods I hug the outside and then weave in and out of the center.  It depends on the neighborhood though some have some odd layouts.  

@David Mitro

I tend to stick to central and upper Bucks and montgomery. 60/70k on a rehab isn't uncommon but it isn't always necessary. As we all know it totally depends on the house. The REO I saw that needed 70k was in the horsham area. I was more or less using the 70k rehab as an example of a cost we see on our end that most of these banks aren't going to discount up front on their listing price. I basically stick between Feasterville and Souderton on the Bucks side and from upper/lower moreland to Harleysville on the montgomery side without going to far west. Decent size area but fairly strict criteria.

@Nick Stango

I can say that the MLS in Bucks and Montgomery County is watched by a ton eyes and the second an actual deal goes on it there are plenty of people ready to take action on it within minutes. These are some really competitive areas and to be honest lower bucks all around Levittown is one of the most popular and competitive markets right now since there seems to be a good amount of flips down there.

That being said you can totally still find and get deals. Banks list REO's at whatever they want and in my opinion if you run your numbers and submit a cash offer without contingencies it's totally worth a shot regardless of their listing price. I looked at an REO a few weeks ago that needed over a 70k rehab I'm sure the bank didn't calculate for. I've submitted a few REO offers and am waiting to hear back on one still but I haven't had any accepted as of yet. It might be because my number is low but that's alright it's the number that I'd be willing to pay I don't wanna over pay just to have a house to work on.

      I have mainly done direct marketing and it has worked for a few houses so far.  Down there you are going to have competition even with direct marketing I'm sure but find your criteria and just generate as many leads as you can.  From there just be the best investor help these people solve whatever they're looking to solve and you should get a nice deal on a house for it.

I noticed the prices fell a bit too.  I just scrap random copper and aluminum from jobs but I was thinking about stock piling for a bit.  I really don't understand how billy bob and his drinking buddy can afford to drive around all day in their pickup full of steel and make any money it's comical.  

welcome @Hassani Graves

  I am also a local investor feel free to reach out with any questions.  What types of deals do you plan on doing?

maybe try contacting the rightful owners to see if they'd like to sell first?