Does it cost anything to list with Pittsburgh Invest?
It is absolutely free to list your property with Pittsburgh Invest! We want this to be a valuable resource to both new and experienced real estate investors in the Pittsburgh region, and offering a platform to list and share your deal is something we believe should be offered at no cost.
We do offer
optional disposition services for a fee, but these are not required to list your deal on the site.
What type of information is required to list a property with Pittsburgh Invest?
For an overview of what's included in a listing, visit our
Properties page to view any listing.
All general property details are required such as beds/baths/sqft, but one important point to be aware of is the requirement to have a link to additional photos stored on a cloud server such as Dropbox or Google Drive. At this time, Pittsburgh Invest is not able to host more than the primary photo for each listing.
In addition to the fields referenced above, below are a few pieces of information that are not required but highly recommended:
Estimated ARV - You can calculate this by viewing recently sold properties in the area.
Between 1-3 of the comparable properties you found online to calculate your estimated ARV.
Can I still market my wholesale contract on my own after listing it with Pittsburgh Invest?
Absolutely! Our platform is simply a tool that you can use to widen your search to find a buyer interested in your contract, so we by all means want you to utilize it to your advantage.
Because your deal will be displayed in a simple and an functional way on our site, we recommend simply using the URL of your property's page once it's listed to share with any buyers you may send it to. This will keep things simple on their side and make it easy for them to find everything they need all in one place.
How do Pittsburgh Invest's disposition services work?
Before we do anything else, we'll first review all of the property and contract details to ensure we can provide you with the return you're seeking. Once we have everything we need, we'll send a simple JV agreement to you via DocuSign stating we will receive 50% of the release fee at closing, which will need to be signed and returned to us as soon as possible so we can begin marketing the deal.
Can Pittsburgh Invest sell a property I own for me?
Because we are not real estate brokers or agents, we cannot legally sell your property for you, so we would begin by setting up a purchase agreement for your desired sale price. Once under contract, we would then market the contract to our buyers as a typical wholesaler would with a small fee added on to be paid by the buyer, and this would all be discussed with you up front so you're aware of the entire process.
What happens if Pittsburgh Invest can't sell my wholesale contract?
One important piece of information we ask for in your property submission is the last date of the contingency period stated on your contract with the seller. If we have not found a buyer for your contract within 2 days of the contingency period expiration, the deal will come back to you along with any recommendations or insights we picked up from buyers in our marketing. We can always work with you to have the contract with the seller renegotiated if need be, but if we are unable to sell the contract you will be under no obligation to compensate us in any way.
How can I determine a good asking price on a property I own?
A general rule of thumb when determining an asking price is to use the 70% rule. Investors looking for their next deal will more than likely not be willing to pay more than 70% of the ARV for the property minus the cost of repairs.
For example: If your property would sell for $250,000 after it's been fixed up, and those renovations cost about $25,000 to complete, your asking price would need to be no more than $150,000.
($250,000 x 70%) - $25,000 = $150,000
If the number you reach when doing this calculation is too low for your taste, shoot us an email to firstname.lastname@example.org and we can discuss additional ways to market your contract using more creative financing options.
Where can I find links to comparable properties to determine an ARV?
The MLS is always the greatest resource to locate comps in the area of your property, but because most people do not have access to this service, sites like Redfin and Zillow are good free resources to locate recently sold properties.