All Forum Posts by: Ryan Lockstein

@Jonathan Twombly Thanks for all of the advice.  I hear a lot of mention of brokers in all of these comments.  In my two years of wholesaling single family investments I did not once need to use a broker though. I found sellers/tired investors via direct mail and cold call marketing that didn't even know they wanted to sell their property until I called.  Those are the type of "Off Market" deals I am referring too. I always have worked direct with the seller.  I am assuming that I could do the same by contacting owners of 10-40 unit properties in my area that are under performing.  I was really just curious what everyone else was doing to contact large multi unit investors that worked for them.  To be clear, I am not looking for properties in which the owner has already decided to possibly list.  At that point I am too late.

HI BP,

I have been wholesaling/flipping SFR's for a couple years now full time. Typically I am using Direct mail and web leads to get my deals. We have recently obtained funding to do a larger Multi-family deal (10-40 units). Just seeing if anyone has experience in finding great off market deals in this type of property? If so what type of marketing or hustling are you doing to get those deals?

Not planning on covering up anything or doing anything to the place if I don't have to. By lipstick I meant potentially putting in new carpets and paint just to give it a quick update and clean look. The number suggest I don't have to but wanted to get opinions in if it would sell quicker that way.

Is anyone doing "wholetail" deals or lipstick rehabs? I have a deal that I locked up for a wholesale deal that could net me about $5-6k (i've done about a dozen of these). After reviewing some of the houses that have sold in the neighborhood in this condition (livable as-is but needs $40k cosmetic for full rehab) I realized that I could probably sell this thing to a retail buyer for $20-30k profit if I closed and just quickly listed it (before $5-6k realtor commission).

I have never done a deal like this before and have a feeling that there are some things I should know before I consider this option. Is there anyone on BP doing these types of deals that could give me a some advice on what I need to know before jumping into this venture? What would you do?

Hi Lisa we are from the same neck of the woods. I live up in Langhorne. I currently am a full time wholesaler/investor in the Greater Philly area. We should talk about finding you a good deal.