All Forum Posts by: Michael Campbell

Hi @William C.

Check out DIG (Diversified Investor's Group, www.digonline.org).  The main meeting is in Ambler and there are additional subgroup meetings every month.  There is specifically a Bux/Mont Sub Group which non-members can attend one time for free.  Check out the event calendar on the website. 

@Paul McCormick Jr  I would recommend attending as many as you can.  E-mail the group leaders and see if you can find out which topics are planned for the month.  As a non-member you are allowed to attend each sub-group meeting once.

Hey @Ryan Cameron

Have you checked out Diversified Investor's Group (DIG)?  I've met quite a few DIG members involved in New Construction projects in Philadelphia.  The monthly DIG meeting also had a presentation on New Construction a few months ago.

Check out the Ultimate Beginner's Guide to Real Estate Investing:

http://www.biggerpockets.com/ultimatebeginnersguide.pdf 

Great topic!  While I don't own properties in any of those areas, I also like Germantown and East Mt. Airy from a cash flow perspective.  A couple other areas that come to mind for me are Port Richmond and Overbrook.

Hey BP,

I'm looking at a triplex and I asked my realtor for her opinion on what the property might appraise for after it is rehabbed and rented.  She said that for a rental property 2-4 units, the appraiser would use the income capitalization approach for determining the value.  Is this correct?  I thought appaisers used comparable sales for valuing 2-4 unit properties and income capitalization approach was for properties with 5+ units.  Any help is appreciated.

Thank you.

Hi Malique,

Welcome to BP.  Lots of good info here.

When you start looking for your first home, you'll find that right away the realtors will ask you if you are pre-approved for a mortgage yet.  So, you might want to get that out of the way first.  Alternatively, if you have a realtor you want to work with, they might be able to recommend a mortgage broker for you.  Either way, you'll want to get pre-approved at some point.  Realtors don't want to waste time showing properties to someone that can't qualify for a mortgage.

@Mark Redmann

I'd recommend checking out DIG's meetings at www.digonline.org.  You can check out the calendar for sub group meetings near you.  There are typically wholesalers present that you can connect with.

Hey Tom,

I talked to the seller and gave him a verbal offer of $35k for the property but didn't get a clear yes or no yet.  I'm following up with a written letter and another phone call to get a definitive answer.

@Cristian Yepez Check out YellowLetters.com.  They have some good examples on their website.