All Forum Posts by: Holly Scanlon

This sounds great! Hope I can make it

Hey! You can buy a list from listsource.com with the specific criteria you'e looking for. Since you are targeting multi families, you can get a list of absentee owners who have owned their property for more than 7 or 8 years and have equity in it. The list is a reasonable price. Hope this helps. Good luck 

Thank you for the helpful advice! I am not an agent, unfortunately, but I will post it in the local section. Thanks again.

Hello all,

I am very excited to say that I got my first deal under contract using direct mail. Before I sent out my letters, I had a few rehabber friends in mind that I could wholesale a property to. But, this particular house that i have under contract is not suitable for a flip, it's perfect for a landlord! A local investor got one of my absentee owner letters and wants to sell her single family rental in Waterbury. The house is move in ready. We agreed on a price and now I have a week to find a buyer. I'm looking for multiply ways to market this quickly. I put it up on the BP Marketplace and I will be attending my local REIA meeting tmrw (perfect timing). Any other tips? Or any buyers?

This is an updated SFH in a desirable neighborhood in Waterbury, CT. The house has brand new paint and carpets. Also, a newer hot water heater and furnace. It is perfect for a landlord investor looking for cash flow. This properties ARV is $91,500. I have comps if you would like to see them. This house has also been approved for section 8. Great Turn key property with over 10% cash on cash return. Call, Text or Email me at 203-565-7537 or [email protected]

Hello! I have a few questions regarding wholesaling to a landlord investor. I have a lead on a single family house, owned by an investor who is trying to liquidate their assets. The majority of the updates have been done, fresh paint, new carpets, furnace,  hot water heater, etc. It needs a roof and the kitchen should be updated. Based on this information, the numbers don't work for a flip. 

So my questions are: When an investor is purchasing a property to hold, what is the rate of return they typically look for? 

If they were to take out a loan to purchase the property, how much do they have to put down and what is the interest rate, typically? Also, how long do they take out the loan for? 30 yrs? 15? Points? 

For a single family home does the investor usually pay for lawn care/snow removal? Or is that up to the tenant. 

I'm trying to use the BP calculator but I'm not confident on my numbers that I'm using yet. I know that it's really a case by case basis depending on the buyer and how much capital they have. But I'd like to hear from some people with experience to help me understand a little better. Thank you. 

Hey @Maria M. Thank you for the books! I read the E Myth, love it. I will def check out Zillow Talks. 

Hi @Dave Visaya Very happy to be here, this is a great community! 

Hey everyone! My name is Holly, i live in Watertown, CT, and I'm ready to dive into real estate investing. I've been reading a ton of books and listening to BP podcasts for about a year. I'm focusing on rehab costs so I can be a successful wholesaler. 

So far my experience in real estate has been the purchase of my own single family home and I am in the process of rehabbing a 2 family house with a few seasoned investors. They have graciously allowed me to watch and learn as we go. This hands on experience has taught me so much already! 

Right now I am working full time as a hairstylist. The late nights and weekend hours are getting to be a little tough now that my 2 kids are starting school and sports. I would love to be a full time investor within 1 year. Im ready to make that happen! 

I would love to meet and network with other investors in CT whenever possible. Looking forward to connecting with all of you.  

Cheers! 

Thanks @ScottCostello that was very helpful. I appreciate it.