All Forum Posts by: Patrick Martone

Can i still make money on flips by going through an Agent? Ideally following the 70% rule.

How much does a central air installation cost in Philly? Think basic 3 bedroom town home. Point breeze area.

Well the endeavor was an ecommerce website that did not even launch,so it is just a vacant LLC, but i will look in to reclassifying it. Thanks

I have an existing llC i setup via SWYFT filings. Can I use it for my first flip? how would I do this?

I have an LLC i used for a project which never took off. Could I use it to purchase my first flip? will I need to restructure anything? I set up the LLC online with SWYFT.

So far the two wholesalers I have dealt with (under an agency) have not sent me deals, ignored phonecalls (Out of state investor so I need to make arrangements before I drive 2 hours). I am A cash buyer, and not looking to waste their time or mine. 

All i have asked is to see pictures of the inside of the house before i make a 2 hours drive. And when one sent me a deal (the first deal in 2 weeks) I asked if we could line up a few more for the following week (So I don't have to make multiple 2 hour drives)

I thought working with wholesalers in an agency would be better, but I might as well go to the We-buy-houses sign-guys. Maybe it will be more sketchy, but either way i'll be doing my homework.

Is there something i am doing wrong?

Hello, I am looking for 2-4 unit multifamily rentals and/or single family flips in Philly. My budget is 350k cash. I am looking for properties in need of cosmetic work as I want to add sweat equity myself and project manage where I can't add sweat equity. 

 haha i moved to chaing mai and did the digi nomad thing for a bit

So I quit my W2 job and traveled for a year on very very little money. I got into REI by reading and listening to bigger pockets on my adventures.

Upon returning to the US i started looking for properties and working part time. I took out a line of credit on my home which can purchase me a new house.

At least where I live, deals are few and far between. I hit a point where I caved in and got an agent (I am a builder, not a marketer). I had planned to project manage the rehabs and work part time.

At this point I realized that deals are few an far between and I could be working full time. Now that I have a year of little income, I will have trouble getting more financing to scale my business. 

I am in the process of applying to W2 jobs that relate to real estate and or construction  (civil engineer background) to keep my head in the game. I am also talking to out of state agents to find better deals.

I am at a similar crossroads because working full time will make out of state investing difficult.

Good Luck. REmember do what works. @Tyler Kastelberg is right. It takes a certain type of person to quit and get a business up and running. I unfortunately may not be that person until I change my mind set

I also posted on reddit and these were some responses https://www.reddit.com/r/CommercialRealEstate/comm...

My dads words were "its land.. never get rid of it." I don't need the money in a rush, but I don't want to pay holding costs if this land can't be value added, or have a potential for appreciation. Its just one more responsibility that I don't need