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All Forum Posts by: Jared Forman

Jared Forman has started 15 posts and replied 128 times.

Post: Vacant house - owner says not for sale - what is your strategy?

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

you need to take yourself out of your size 9 Adidas shoes and get into their size 12 Reebok's. Unless you can build trust with these people, you don't have a chance even if it is right in your face. It's not " sell me your house" it's more, " oIsaw your house and wanted to know what your are doing with it? ". You will need to work on your listening skills....

example: I own a duplex in a heavy drug area on the cusp of heavy gentrification. Was speaking with the neighbor today asking about the "ugly houses" and turns out he owns one of them and has no plans to rent or sell. It is just sitting vacant. He told me a story about the church next door and taxes and 10 year..... You get the picture. He is not motivated, but will sell me the house for $25,000... The house is worth $40,000 as a shell so to me we have a deal... Now it is all about the follow-up and rapport building. 

best of luck getting into your rhythm

Post: Philadelphia GC recommendations

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

Hi Mike I sent you a message regarding who I would check out

Post: Do Contractor Savings Pass to the Owner?

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

Hi Benjamin,

Unless your contractor is financially incentivised to save you money, than they aren't going to pass along the savings. They will be worried about how much they will make and about the next job. I find if you have them tied as a partner or a salary based upon saving and time they may do what you want.

Post: Philadelphia Renovation Costs

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

if this is 

1. first time you are buying a property

2. You are going to be living out of state

Than you will need to have a GC who has a financial interest in the success of the project. This means the gc gets paid based on the success of time, budget, and quality. 

Post: New Realtor/ How to Generate Leads

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

Add this to your todo items

1. Knock 100 doors. ( This will add grit)

2. Follow-up with those people

Post: Refinance - Local Lenders Recommendations

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

I can, but will not.

Give them a call, and find out why I like them. 

I am not  getting any incentive by promoting them, just like them as a credit union

Post: Refinance - Local Lenders Recommendations

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

My recommendation for everyone, if you are in the city of Philadelphia go to PFCU. Hands down the best refinance in the city for single

Post: Philadelphia Sheriff Sale

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

Hi Mary,

You can assign your bid for a sheriff sale property, but you will need to put down a 10% deposit when you win or $500 minimum.  These properties also can't get title insurance for 1 year during the right of redemption... 

Yes people do it, but educate before messing with the beast.

Post: New Realtor/ How to Generate Leads

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

Lead generation comes down to 2 things when you start out. Time and money, which do you have more of?

if time is in your best interest, go and knock on doors. I guarantee if you knock 6 hours of doors you will find a deal. Bring business cards with you.

if you have some money, than buy your leads from a marketing company.

once you get a lead it's all about follow-up and follow through. 

Post: Unusual Request from a Co Worker

Jared FormanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 139
  • Votes 107

As for the structure you may need a temporary structure permit if L&I says something. But ji is more a personal preference for the business relationship. 

if you trust each other have him pay all holding costs on the lot.