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Andrew McDannels Claymont, DE posts 16 12:58 am February 15, 2012
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Just starting out – can you tell me:
Preferences (any property types preferred)
Price range (min return, ARV range)
Location (city or county)
How quick to close
Thank you and I look forward to seeing all of you at the next meeting.
Andrew McDannels
http://www.scottishventuresllc.com
andrew@scottishventuresllc.com
302-382-6057
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Mike Ferris posts 103 11:50 am February 17, 2012
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Andrew,
There are plenty of cash buyers around. Most want to be under $250k ARV. Most don't want City of Wilm deals unless they are rentals. Most can close within 2-4 weeks. You can put me on your list if you find something. However, I like to use the analogy that if you have a $100 bill and you want to sell it for $65 you shouldn't have to have your buyers lined up before you attempt to offer such a deal. A good deal will sell. There are some cases where you need to assign a deal very quickly and having a ready buyer is helpful, so developing a list is not a bad idea.
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Julie Panaro posts 9 11:36 am February 20, 2012
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Andrew, Welcome to the Forum
My partners and I like wholesalers. If we look at a property, we'd like you to show us the comps for the neighborhood, along with the typical DOM (days on market). I've responded to your inquiries below. Like Mike said, outside of the City for flips is best. We are not afraid of total gut and renos, but, the numbers have to work to support it.
Give us a call with your next opportunity that meets the criteria and we'll see if we have a deal.
Julie Panaro
Brick House Investments LLC
302 – 528-3398
julie.c.panaro@gmail.com
Andrew McDannels said:
Just starting out – can you tell me:
Preferences (any property types preferred) – We like 3+ bed/1+ ba, sfh
Price range (min return, ARV range) - Not more than $210k ARV
Location (city or county) – Outside City of Wilmington limits
How quick to close - Assuming no title issues, really, really fast. 1 – 2 weeks
Thank you and I look forward to seeing all of you at the next meeting.
Andrew McDannels
http://www.scottishventuresllc.com
andrew@scottishventuresllc.com
302-382-6057
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Andrew McDannels Claymont, DE posts 16 3:29 pm February 20, 2012
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Thanks guys – should I do the title search before I market a deal?
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Julie Panaro posts 9 6:03 pm February 20, 2012
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Andrew McDannels said:
Thanks guys – should I do the title search before I market a deal?
Your buyer will do the title search through their closing attorney.
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Chuck Burbank posts 1 2:25 pm February 29, 2012
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Andrew, keep me on your list. I prefer at least 3 bed/1 bath, detached or townhouse, at least 1000sf, ARV in the low 200's or under, no busy streets or war zones. I can usually do cash deals up to 100K. I'm working on a deal that may tie up much of that for a while, but if you find something good let me know.
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Jim Willis posts 1 7:31 am March 1, 2012
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Post edited 7:32 am – March 1, 2012 by Jim Willis
Please add Properties For Life / Lenape Builders to your list.
We are cash buyers from $1k up to $500k for rehabs, land, and tear downs. Please no city of Wilmington deals. Will buy in all 3 counties. Large and small rehabs are ok. Able to handle multiple projects simultaneously. Can settle usually in ~2 weeks with Ward and Taylor.
Primary determination in purchasing is the spread. Looking to make 15% ROI. Feel free to call Jim @ 302-293-9465 or Ed @ 302-420-5143. Or email Info@PFL2.com
If you are interested in doing a "joint" land deal… Let's talk. Lenape Builders can build new construction on your land. They also do renovation work if needed.
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