All Forum Posts by: Joe Pitrolo

I’m buying a 3 bed home in Marion County for 25k from a wholesaler who is making a good fee and he advertises mainly on FB. I know he makes sure he finds a good local attorney who can close quick and uses a simple assignment contract , nothing fancy.

  Larry Goins from Lake Whylie SC is a good educational source for wholesaling and also rags to riches - selling distressed properties owner financing. 

I ran across this and looks like an interesting investment.   Does anyone see any downside?  Seems like the cost would be low and could also work with Air BNB and areas with lots of out of town workers.

https://www.wtrf.com/community/moundsville-family-is-building-a-tiny-house-apartment-complex-with-storage-containers/1622717338

I have now purchased 3 properties and all three were good deals. I’ve had about 2 or 3 that got turned down.     Overall some good deals.

Townhome built in 2016. 

When the lights are dim I notice the poor drywall in my Kitchen/dining room area.  Unfortunately, I've already signed off on the work, past warranty. I know some residents had this problem and Dan Ryan did a complete redo.  It appears somewhat wavy and you can see seems, but its not horribly visible. 

  I also have a lot nail pops and small blemishes. Some of this is common for new construction.

As far as repair, does anyone have ideas?  or maybe its not worth it?

Thanks-

I tried to list a few commercial properties and they wanted $67 per month per property and I listed 2 properties for $133 for about 4 months with zero leads or responses, so I deactivated my listing on their site, yet they continue to bill me the $133.  Now they are saying I committed for one year and cannot cancel.  I spoke with a realtor who uses Loopnet/Co-Star and she said she has also gotten zero leads ever from them.  I may inquire about one of their listing, but be very careful about listing a property on their site.

I've had some luck with Auction.com, purchasing 2 properties at about 40% discount, a  3 and a 4 bedroom.   If you loose the bid, your cc is not charged.  If you win the bid, you have to get your paperwork and funds in quickly or they can withdraw the offer.   I won the last 2 auctions and Wells Fargo didn't accept and returned my EM in both instances.

   It best to buy a property not occupied that you can do a walk through.

It seems like some of it is just timely bidding or banks deciding to just give up and sell. I notice some properties stay on for a long time and automatic bid up to or very close to the reserve.

Just discarded a guys card , but call ace hardware, I got the card from them and I think they have it.

Xavier. You might check with multiple brokers , Walker , KLM, ISpy realty specializes in foreclosures. Fairmont may be a better area for flips as the market is tight in Morgantown. I still think the wholesale model is a good way to learn and gain entry to investing.

Sounds great. If you can put up with 18000 minutes of Brandon and Josh , you deserve a special trophy ! Can you expand upon the regional development grant ? Are you using Airbnb at all? You may even approach some landlords with good vacation rentals and rent the properties from them , spruce them up with amenities and rent Airbnb, as long as you disclose to the lessor.

I think your backyard is a good place to start. The Rental numbers make sense in Charleston and surrounding areas, cross lanes , St Albans , Scott Depot. You can snatch a foreclosure 3 Bedroom for 50k or less (I’ve gotten 2 in the last 2 years for approx 35 with repairs , equity of 35 ) and rent for $850 or more , sometimes guaranteed with HUD. These numbers make sense. Find a network of realtors , contractors , Banks or hard money lenders. I would say out of state is find if you have some partners , a pm company and on the ground support setup at the locale. Research the are heavily to make sure the market is strong and your investment will grow. Both are possible , but I think wv is good for steady growth and god return s on rentals.