Philip Yan

Victory Star Solutions in Chesterbrook, PA

Philip Yan with Carolina Yan

This deal was found through our probate mailing campaign; we go to our county court every 3 weeks to get new names and send out letters with 3 touches each. My letter was the only one called even though they had a stack of mail from other investors (got lucky!!). Sending multiple touches worked. rnSince this was in the estate we were allowed enough time to close, so I followed the system and found a local bank that was willing to lend to me at prime interest rate of 70% of appraisal price, because we bought cheaper this happens to cover 100% of my purchase price and some extra $$ for the rehab. rnI had to come up with most of the rehab $$ which I used my own HELOC at 5% rate as well, saving a lot of $$ on the financial side. We end up spending 15K over the original estimate because of a failed septic and electrical box found after we bought it, the lesson here is to get full septic inspection!!!!. rnTotal rehab was 105K. In the process I also got my real estate agent license, I was able to work with someone in the office to co-list at only a 1% fee, stage the house and take professional pictures, the property was on the market for 2 days accepted an offer of 5K over asking, no open house and was 25K over my original ARV.rn