All Forum Posts by: Shawn Kostoff

@Philip Marzen I think it depends on a few things. If you send me the details I can let you know what I see.  I invest in the Wilmington area.  Thanks!

@Daniel Scruggs I used to use Cozy.co before it was acquired by Apartments.com.  I have a number of rental properties I use on here and it does everything I need it to.  I would recommend it and it is free to use, there are other options out there with more bells and whistles, but for someone like me I don't need to pay for those services.

Let me know if you need help in the future.

@Keith Pickens Good luck on your search.  I have worked with @Vincent Garman personally on investment properties and he is your guy.  He lives in the area and can provide you a lot of insight based on his experience.  His wife is also a wealth of knowledge!

@Ronald Stephenson Congrats!  Sounds like a great deal

@Scott Lewis I would recommend Larry Hughes with Alpha Engineering.  If you need someone to do the work I would recommend Michael Rumps.  Both are very knowledgeable and reasonably priced.  They did work for me at a rental property we recently sold.  Send me a DM if you need their contact information.

Investment Info:

Townhouse buy & hold investment in Woodlyn.

Purchase price: $102,000
Cash invested: $13,000

I was contacted by the seller of the property in April, he found us through our website. He was looking to sell his house and did not want to list with a realtor or go with a traditional sale. He wanted to sell it as-is, with a quick, simple closing. Even though we weren't the highest offer he chose to work with us because of our consistent follow up and the way we stuck to our word.

What made you interested in investing in this type of deal?

We are always looking for BRRRR deals that we can acquire with little to no money out of our pocket after the refinance.

How did you find this deal and how did you negotiate it?

The seller contacted us through our website. I met the seller at the property and established a good rapport. Initially our offer was lower than some of our competitors. After a couple of weeks and few phone calls we made our final and best offer, but the seller said he was going to go with a higher offer. About a week later I received a call from the seller who stated he wanted to work with us because we were consistent and always stuck to our word.

How did you finance this deal?

We borrowed cash from a private investor to fund the purchase price and most of the renovations.

How did you add value to the deal?

I was a resource for the seller and provided whatever he needed, he saw the value in what we offered and ultimately chose to work with us.

What was the outcome?

We purchased the property, renovated it, and were able to rent it out for more than we anticipated. We will be refinancing in 2 months and pulling most of our money out, while also paying back our investor.

Lessons learned? Challenges?

The highest offer is not always the one that gets accepted. It pays to be consistent, stick to your word, and establish strong, honest relationships.

@Philip Marzen I live in Wilmington and invest in New Castle County, as well as Delaware County, PA.  I wholesale 1-2 deals a month as well as own rental properties.  I would be happy to discuss business and help any way I can.

Hey @Quiana Jones I live and invest in Wilmington.  Please feel free to reach out if you need any help.  

I used @Rich O'Neill on a rental property we acquired a couple months ago in Woodlyn (Delaware County).  Rich and his team are a pleasure to work with.  They are timely with their communication and always answer the phone.  They created a specific Scope of Work and stuck to it throughout the project, with minimal change orders.  They completed the project on the timeline they said they would.

I highly recommend Rich and his team.  As a matter of fact, they are coming out today to give us an estimate/scope of work on our next project.

@Joseph Miller Welcome!  I invest in the Wilmington area.  I have a potential opportunity you may be interested in, I will send you a message.