All Forum Posts by: Jacob Lileev

I am in the middle of negotiating a deal with a seller who owns a Sec8 Rental property near Pittsburgh, PA (New Kensington 15068).
The tenant has been there for a few years and kept the house well-maintained.

The rent is $900
6 BD 2 BA 1,555 SQFT
COMPS: ARV - $135,000 | AS-IS $90,000
I'm looking to get a better understanding of what Sec8 investors would pay for such property, trying to lock in the best deal possible for these investors.
Also, what are the most important things I should look for in these deals?
Any comment would be much appreciated

 I didn't think too much about socials because I don't really use them, but I do want to make them for my business, because I'm new to this and have only been doing it for a week I mainly focused on doing a deal...
But you are right I should start my business & personal presence on social platforms, especially after a few sellers asked about my business and where they can find me...
Thank you for that great tip I'll make sure to do so!

 Hey Mitch!
Thank you very much for that answer I will look into all of this further.
In your opinion should I first line cash buyers for deals like that to understand if they use any finance at all or buy with cash?

Hey guys

!I'm curious about how you analyze and wholesale properties that make sense for rentals.
I'm calling a tired landlord list, and I've seen a few times that landlords want to sell their rental properties because they're tired.
These properties are currently being rented for a great amount with great cash flow.

Most of the time, these properties are not in the worst condition, but they are not new either (I think about $10-20K in repairs needed) or even properties that have great tenants paying great rent in them.

Now, if I analyze the MAO with the standard calculation (ARV * 0.7 - repairs - fee), it won't make sense for the seller, and he won't sell it (found out the hard way haha).

What do you guys do in that situation? Are you calculating your MAO differently?

I know sub2 might be better in those situations, but I'm focusing 100% on wholesaling and nothing more.

 Got it from tired landlord & absentee owners list, asked seller about 1 property he told me that he doesn't want to sell this one but has 4 other he'd like to sell.
He had a sickness and couldn't take care of his rentals properties so they have been vacant for around 5 years, he couldn't pay the taxes and bills on them and he just wants to get rid of them, he told me he doesn't care about profit or anything, he even offered me to do a quitclaim deed.
With the help of my mentor I asked him what does he thinks the balance of the taxes the proeprty has, he told me that he doesn't believe it's more than 25K.
So we wrote him an offer for 25K for 1 property and 13K for the second.

so for property 1:
ARV 313K
Rehab 160K
Wholesale price 60K
Profit 35K

Property 2:
ARV 115K
Rehab 60K
Wholesale Price 20K
profit 10K

Now we're looking for the boots and cash buyers :)

 Thanks Gustavo!
I'm happy to say that I signed a seller on 2 of his properties just yesterday !! :) 

 Thank you Hunter!
I'm aware of the new law about wholesaling but as I know it will become effective in January 25

I work in Pittsburgh, PA (I thought that I wrote it in the post)
I've posted in a few groups including this forum.

Thank you Caleb, I'm really happy for making the calls too after 6 month of studying and having analysis paralysis.

 Thank you very much!
I really appreciate it!