All Forum Posts by: Paul Sorgi

Understanding your backyard is a great place to start as well.  There are deals everywhere sometimes just requires more digging.   Markets can also be quite different from one neighborhood to the next. 

Property needs a Lot of TLC 

This property needs some work.  

 electrical service and rewiring in the basement

 plumbing in the basement

Kitchen

some roof work

patching and painting

heating system

based on area rehab will cost around 20k 

Property may rent form 600-700 per month 

welcome to BP look forward to seeing you at a local event or 2 !  

@Darina Pogodina what is your end goal with the property?  Do you plan to flip it?  Live in it?    What are the numbers on the deal?  With more information people can offer better advice.  

Is the sellers request for no inspection or no inspection contingency?    

@Jalen Carethers  let us know how you make out with your offers and the follow up on the other calls.  

Farouk El Khatib proximity to the commuter rail is always a plus.

@Stephen Torti more doors gives you a little more income diversification.  But the decision should be based more on what is a better deal.  What are you trying to accomplish with your investment? Do you need immediate cash flow?  Would you be happy with  appreciation and mortgage pay down by holding long term?  I am assuming your cash reserves are limited which means to me that whatever type of property you purchase you will need it to be in great shape.   This will reduce your repairs and cap ex needs in the short term.  

Attend local real estate events to meet other investors. Ask around to find out who is actually buying properties. Attend auctions and mingle with the crowd before the auctions starts. Everyone there is looking to buy a property. Search for local investors in your area here on BP and connect with them. Most people looking to buy will be happy to be on your list. Some might know who to call. If you are good at digging up deals you will have no problem moving them. Also you only need a handful of buyers.