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All Forum Posts by: Justin P.

Justin P. has started 6 posts and replied 18 times.

Post: First RE investment

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

Hi.

I'm currently trying to get my first couple of deals closed, I've been marketing like crazy and have had positive responses but no one is biting! These are quality properties and are priced well, based on comps in the area. Anywho, I stand to profit $94K and want to put that into a multifamily property. I'm trying to find a property that will generate a NOI of $10-20K a month. Should I put it all in one or spread it out over smaller multi-families?

Post: Marketing

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

Hi!! 

I've been marketing properties I have under contract on various websites and have had some positive responses but no bites. 2 Caribbean deals and 1 semi local deal. What other creative ways are people using to market their deals?

Post: Attorney For Lease Option Closings?

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

How do you deal with sellers who have a real estate agent already but want to do a L/O??

Post: The Basics of Real Estate Investment Deal Analysis

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

Hi BP family! 

I have a seller looking to sell their $429, 900 home to me rent to buy. I have the lease option contract ready to go. However, they said they're working with a real estate agent and suggested that I should call the agent. So... Should I call the agent or just deal with the seller?? I've viewed the house on Zillow, it's beautiful. The area is also just as beautiful. Help! Thanks!

Post: Automating your deal searches with scraping software.

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

Hey. I'm using the push button auto marketer to scrape my leads and qualify them also. I have 4 websites now. www.petewillbuy.com www.petehashomes.com www.petebuyshomespgh.com www.mynewhomepgh.com

I've purchased this software 04/14 and have 7 leads so far. Some good, some bad. Fingers crossed!

Post: 12 unit property

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

Hey BP family! Finally! I've finally got a lead on a 12 unit property. Should I lease option or buy and hold? I'm still new and this will hopefully be my first deal. Any good advice out there??

Post: Automating your deal searches with scraping software.

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

Hi I am curious if anyone will give good advice about putting your business on autopilot!? I was considering buying this software https://contentgrabber.com/ to collect my data and criteria for acquisitions automatically. Has anyone used this or something like this? I've been searching but haven't found the right product, and a lot of the bigger pocket pod casts talk about putting things on autopilot. Thanks for the feedback!

Post: Structuring A Wholesale Deal for a Small Apartment

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3

Hi. I am in need of help! How do I structure my wholesale deal via contract? I'm not sure of the language needed to get a solid contract written up. Any book suggestions? Anyone willing to guide me through my 1st deal? I'd be willing to give up 10% of my profits if someone would help me get started. I want to wholesale a multifamily in the next 3-4 months if possible. I'm in the Pittsburgh market. 

Post: Need capital to get started.

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3
Originally posted by @Jeff Rabinowitz:

Yes, I know private lenders. They are all over.  Most people know some though they may not know they do. There are hundreds here on BP and more hundreds here who wish to become private lenders.  Reach out to them but don't just ask for money. Know what you are going to do with the funding. Know how much you need and how long you will need it for. Know how you are going to protect your lender when you find them. Private money is primarily a relationship business. Work on the relationships and you will find the money.

Money is Everywhere.

 Absolutely. That's why I'm here, to form relationships and gain insights too. My goal is to have an investment team that collaborates on projects, such as hotels. I'd love to, at some point in the future, get into buying hotels, big or small. I'm very interested in vacation homes, especially in the Caribbean. I know it's going to take good business relationships and a proven track record to accomplish this goal. As the saying goes: Teamwork makes the dream work!

Thanks for your input.

Post: Need capital to get started.

Justin P.Posted
  • Wholesaler
  • Pittsburgh , PA
  • Posts 23
  • Votes 3
Originally posted by @David Faulkner:

Why can't you save up a down payment and then get a bank loan for a primary/investment property? Bank mortgage on a primary residence is OPM too, the least expensive kind, actually. If you can't save up a down payment, then you probably haven't yet mastered personal finance ... if you don't know how to manage money and you buy an investment property, you still won't know how to manage money, the only difference is that you will then be mismanaging money on a larger scale and with leverage; the results could be "interesting". I understand and appreciate that you are young and eager to jump in and invest, just make sure you have a solid financial foundation (both knowledge and dollars, and one follows the other) first.

 I have money saved, I was just curious about private lenders vs. banks; in my original post I mentioned how many investors like that route and I wanted to get feedback. Thanks for the input!