All Forum Posts by: William C.

Personally I wouldn't go anywhere near Germantown or Norristown, but that's just not the areas I want to be.   I think you'll start to notice your back yard offers a great place to build a rental portfolio.  We have a major supply issue, which I have been tracking daily for the past 8 years and it has only gotten worse.   Demand is high, and driven even higher by the student population at Acadia and Salus.   It's a perfect storm for a landlord in my opinion.   Finding the deals becomes the hard part although we see new opportunities every day.

Darryl Mitchell I have some names. I can't connect from my phone for some reason. Send me a Message and I'll see if I can help.

John Gilligan welcome to BP! We just wrapped up a BRRR in Glenside, I'd be happy to take you through it sometime to show you the good the bad and the ugly. What we learned, what we did right and what we did wrong. It's on Glenside Ave a house down from Primex. Glad to joined the site, you'll find plenty to learn. Feel free to connect if you'd like to see any of our projects.

A 2.5% EMD that goes hard immediately? This seller isn't trying to sell this property, he's trying to turn it into a cash cow. Zero dollars should go hard until you have a reasonable amount of time to do you due diligence.

@Chris K. Thanks for the input.  I'm learning the closing process is 100% different in PA than IL.  Here in PA buyers hire and pay for title, and attorneys are rarely involved at all.  In IL, attorneys represent both sides, and its the seller who needs the title insurance.

Are there any listing agents, or sellers in IL that are familiar with the closing process?  Please connect.  I'd love to learn how it works out there since its so different from my market.  Thanks.

PA doesn't require attorneys so it's a little different here. We pay title companies to handle Closings. A buddy of mine purchased a condo in Chicago over a year ago and felt he was being ripped off by the attorney charging $500/hr. He went out and got a license to open a title company. Is there an opportunity to offer reasonable rates? It looks like some are paying $450/hr, and some $450 a transaction. Being from PA I'm not exactly sure how the process differs but I do know the similarities. Having to pay title insurance when you buy a home, and then 6 months later after we flip it always seemed so ridiculous to me. Is there a market for my buddy to charge reasonable rates in Cook County?

Scott Steffek isn't the difference because the 2 states require a different process for closing? For example Illinois is an attorney state where as Indiana is not. PA happens to not be an attorney state, we have title companies handle everything. Maybe an attorney can chime in and help clarify what the difference is between and attorney state and non? Why would one state require it, and the other not?

Shari Peterson could you confirm that it's all if cook county?

You can find agents a number of ways. Typically if there was an agent local to you they would have chimed in. You should be able to search without a pro account. But you can also find one of of BP. I'd be happy to point you in the right direction if you need help. Feel free to Pm me. Thannks and good luck.

Alexander Monnin you could find a good agent for your friend in that area and give them a call and refer your friend to them. The industry "standard" is about a 25% referral fee. Now you get paid for helping your friend out, and don't have to show him the houses.