All Forum Posts by: John Dreher

I've used evolve in the past to manage my STR's. You pay them 10% (of nightly rate plus any additional cleaning or pet fees) to basically manage your listing and your calendar. They handle any pre-booking and pre-stay communication with guests. That's about it. You would be responsible for all other maintenance and upkeep of your home, including managing the cleaning crew. Evolve does have vendor and professional service referrals in the area of your home should you need it, but I found networking with other investors gave a better result.

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $115,000
Cash invested: $95,000
Sale price: $285,000

Fix and flip turned to fix and rent.

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $115,000
Cash invested: $95,000
Sale price: $285,000

This was my first investment property. I took on the project with two partners. A 2 bed/1 bath originally slated as a fix and flip. This was a full gut, and we did the demo ourselves. Hired a general contractor who did a full renovation including adding a half bath on the first floor. We listed the property in spring 2019 for $250k. Accepted a full asking price offer right away. Buyer backed out after inspection due to discovery of evidence of old termite infestation. There was no active infestation, but the contractor never removed the old floor joists on the first floor when new ones were installed. After we fell out of contract, the market took a little dip and the best offer we got was $220k. That would put us close to break-even, so we decided to rent the property out.

We got a great A+++ tenant that rented the property for two years. We decided to list again in spring 2021. This time listed at $285k. We got full asking price again and this time the transaction went smooth. In the end, each partner netted about $15k. Not bad at all for a first timer!

Oh and by the way, going to the auctions is a GREAT way to get some serious cash buyers.  Get there early (well before the start of the auction) and be ready to move fast.  You don't want to take up too much of their time, but explain to them what you do and that you hope you can be of service to them.  Most are very receptive since they are, of course, looking for deals!!

@Brock Lile @Kim Beckham

@Brock Lile also try that with Craigslist ads.  Go to apartments listed for rent by owner.

@Kim Beckham go to www.gosection8.com for the section 8 listings.  It is time consuming to do this, but it's totally worth while.  I pulled in 50-60 cash buyers from doing this.

@Brock Lile  It took me about a week to get where I am now. I texted every landlord in the areas I target from gosection8.com. It was several hours of work, but worth it. Text is good because it’s fast and you can move on to the next one. Calling might be more lucrative, I’m not sure. But I was getting a 15% response of yes from texting the owners. I think that’s pretty good. 

Thank you Lexi. I would say that most of my list are very serious buyers. About half were contacts I made from local sheriffs sales. So they are cashed up enough to close in 30 days. And most of the others are directly from section 8 and Craigslist ads where I contacted the homeowner directly to ask if they wanted to add to their rental portfolios. I do have a separate list that includes other wholesalers as well. 

Just looking for advice on the fastest way to grow my cash buyers list for wholesaling deals.  I've got about 125 right now.  If anybody wants to swap lists with me, let me know.  I'm in Staten Island NY, and New Jersey.  Essex, Union county area.

Hey Dave. Great. Can you send me your contact info? I’ll add you to my CRM. 

Hey everybody. I’m looking to make contact with any cash buyers in the Staten Island NY area. Anybody interested in picking up any off market deals that I come across, please send me your contact info (cell, email). Direct message me or post here please. Thanks!