All Forum Posts by: Bill Plymouth

@Taylor L. thank you for the suggestions.  I’ll have to create a spreadsheet.  

When it comes to setting your actual goal, do you have any tips to help me keep it achievable 

@Jamila Thompson have you joined your local Real estate investors association?  I would suggest meeting an investor, building a relationship, find a deal, then offer to partner on it.  

The guy who runs my Philly REI association has one in New York. His name is Nick Tang. You can probably find it on the "meetup" app.

@Cirilo Villar not on the wholesale end.  I’m an agent, but I do a ton of cold calls trying to get listings/find buyers for my listings.  I’m using agency to build capital so that I can start my wholesale company.  

@Cirilo Villar yeah bro.  There is no progress without struggle.  Keep pushing.  If you haven’t already, join your local real estate investor association.  You may be able to find yourself a solid mentor willing to partner with you on a deal. 

@Cirilo Villar you’re scared because getting a deal is new to you.  You’re leaving your comfort zone into something completely uncharted to you.  It’s kind of like being a child about to jump into a pool for the first time without a life jacket.  You’re standing there at the edge looking down thinking about everything that could go wrong when you jump.  You’re first deal won’t be easy, but as soon as you get it done, you’ll be craving the next one. 

@Account Closed personally, I would start a bit smaller.  But that doesn’t mean it’s not the right move for you.  Hopefully someone with a little more experience can chime in.  I eventually would like to have some big apartment buildings as well.  How did you find the deal?  Are you able to verify the facts presented about the deal?  Do you have boots on the ground in that state?  If you are dead set on starting with a property that big, bring on a few experienced partners with capital to help through the process.  It’s definitely feasible.  It would just be difficult. 

@Marlen Rum I’m sorry.  Ignore my comment.  The comments didn’t update as I was typing.  I’m glad you solved your problem.  

@Marlen Rum Your tenant probably sees this and a “serious” issue, or at least an inconvenience to constantly smell death whenever they go into a certain room. It doesn’t smell good and can make rooms unbearable to be in.  If they feel like they can’t rely on you to solve problems regarding the property, they might vacate at the end of their lease.  Which isn’t the end of the world, but that could cause you a month or 2 of lost rent while you find a new tenant, if it even takes that long.

As previously suggested, walk the property with the tenant (if you’re able) and see where the smell is the strongest.  If it’s a mouse under the stove type of situation that’s an easy fix.  Just remove the mouse.  If there’s reason to believe it’s on the walls or in the vent, I would get it taken care of.  The odors that are being released are obviously the body decomposing.  When the body decomposes, it releases molecules/gasses that can be harmful.  If it’s a mouse, it might take a few days to go away and not have any time to cause any harm.  If it’s a bigger animal, like a possum or raccoon, it can take much longer for the smell to go away causing longer exposure and a higher chance of health risks.

@Christopher Davis find out what the total cost of the property would be. Purchase price plus rehab costs. What will the ARV of the property be? How much will rent be after rehab? How long will it take to rent the property? What are the costs of your financing? How much will it cashflow?

If you aren’t already familiar with the neighborhood, I would suggest doing a neighborhood analysis as well.  Drive past the property and walk through the surrounding blocks.  What’s the average income in the area?  Is their access to public transportation?  Is there good walkability?  

These are some good questions to dive into. 

Hey everyone   I’m looking to 10x my productivity and goal accomplishment.  In other words I really need to improve my self discipline/focus.  

What strategies do you use to hold yourself accountable to your goals?  What steps do you take to track said goals?  

How do you keep yourself pushing forward?