All Forum Posts by: Bill Plymouth

@Kenneth McKeown that was supposed to say “chiming in” not choking.  I hope that didn’t sound hostile in any way due to the word change!  Sorry if it did!

I feel you on that!  Cash flow is king. I can also see how purchasing a split duplex can have problems down the road.  Thanks for clearing that up for the thread!

@Kenneth McKeown thanks for choking in with that information. Splitting a duplex is a foreign practice over here in the Philadelphia area.  Is the split portions treated like a condo?  

If you had the option yourself, would you rehab a duplex, split it, and then flip both sides?  

Hey BP!

I'm curious to know what the market for rentals is like in Marshalltown and Des Moines Iowa.  What are prices like? Is there any demand for rentals in these areas?  I've done a brief Zillow search, but I'm looking for some more hands-on and in depth knowledge.  

@Joseph Scorese Will do!  Thanks for reaching out.

@Kyle J. you're right.  I feel like I forgot that real estate is a relationship game.  Thanks for chiming in.  I needed that reminder.

Hey Philadelphia BP members!

I'm looking to meet up with like-minded individuals in the area to meet with!  I'm currently an agent, but I am going to be leaving agency to start my own ibuy business.  Let's talk! 

Hey everyone!

My goal, from now until the end of the year, is to build my network of private money lenders.  My goal is to have access to 1 million in private money by the end of the year.  What are your tips and tricks for finding these private money lenders?  

Thanks, Everyone!

@Sai T. I agree with you to an extent. I think that would be the case if you had a unique property where there weren’t many comps to give solid data.  If the house is “average” for tour market, you won’t have much of a problem.  

@Sai T. no one is “right”.  Each side has terms they want met.  You have to meet in the middle if you want the deal done.  

Why do you think the property won’t appraise?  If you’ve run your comps correctly, then their shouldn’t be an issue.  

I would offer a 2.5% (5k) sellers assist contingent on the appraisal coming back at asking price(if appraisal is that big of a concern).  If the appraisal comes back lower, you need to renegotiate.  

@Rick Baker I don't know anything about splitting the duplex. Unless, you've already done your homework and know that 100% that the city would allow it, I wouldn't even consider it in the analysis. It's an unknown X factor. If you were to rehab the property, what's the ARV? What are the projected rents after the rehab? How much would the rehab cost? These are the numbers that would make or break the deal.