All Forum Posts by: Chad Kastel

@Joseph ODonovan   Thank you for the response.  By property appraiser, I meant public records.  We have "Broward property appraiser" in South Florida that has all the public records for a property and I was looking for what would be similar in Phila

Do you have to know how much closing costs are to buy in Phila? Sell? I've gotten some mixed information from different realtors.

@Jimmy O'Connor

Thank you for the reply and this helps. This is something I experience in Florida when dealing with the MLS. But generally the public records are accurate with a lot of their information like sq. footage, not so much with the correct number of bedrooms.

Do you have to know how much closing costs are to buy in Phila?  Sell?  I've gotten some mixed information from different realtors.

Hey Bigger Pockets,

I have a client that says that the property appraiser website in Philadelphia does not work correctly. I have no way to verify this since I don't live near Philadelphia and have never done business there. Is there a website that can accurately tell me if information on the MLS is correct, I.E. sq. footage, number of bedrooms/Bathroom, garage info etc.

Or is my client incorrect?

Hello Bigger Pockets,

I've purchased a mixed-use property in upstate,NY (SFH and stand alone commercial unit). I purchased in cash with the plan of refinancing. I have been having trouble finding convention mortgages because they don't want to finance commercial properties.

Does anyone have any suggestions of where I could go to get a traditional 20 or 30 year mortgage? 

I tried a small portfolio bank but they only gave me a 5 year baloon.

@Jerryll Noorden  I PM'd you.

@May Emery.  So I'm going to try and find a listing broker/agent and build a relationship with them.  But what is their incentive to do it?  Am I going to ensure they represent those clients? 

I completely agree if I can get a list like this that it's extremely advantageous.  

@umarawan

I have sites for the pre foreclosures and have connections for probated. But other than that I dont have another pipeline

Hello Bigger Pockets,

My wife (and I) have started wholesaling and flipping, we've put three properties under contract in the first month. We wholesaled one, may wholesale the second, and will likely flip the third. We found these properties on the MLS but want to find better deal flow. We going to use a direct mail campaign such as "yellowletterscomplete.com." We are looking in to mailing people directly who are in "pre-foreclosure" and probate, but next to that are struggling where we can set up deal flow. Our experience so far has been that other wholesalers are not good at comping properties and their lists have been way too tight.

Any info on articles, podcasts, or general points would be greatly appreciated.

Likely attending with my wife and myself.

@Alexander Krasne,  Were you able to find the different variables that define a good to great school district.  I also do not believe that the rating system tells the whole story and am looking for websites, blogs, or articles to help me to know what questions to ask and things to look for that I won't think of or see?

@Justin Miles.      I would want more information like what are your goals?

Are you saying that after all expenses you property cash flows for $400 per month (except you haven't added in a percentage for cap ex?)  Have you added in vacancy rate? Maintenance rate?

Have you considered the third option of doing  cash out refinance?    Which is essentially selling the property without having to pay taxes or 1031 exchange?    It doesn't make a ton of sense to sell your property in a "hot" market to turn around and buy in the same market (generally).  But if you can sell at the top of your market and then buy at the bottom of another market that would make more sense.

@Janine Kelbach I purchased my first two properties mostly turnkey. If I had to go back in time, I would've spent a little more time learning how to estimate rehab's and find a BRRRR strategy. Maybe not a full scale rehab, but something that anyone who does some studying could handle, like kitchens and bathrooms. Without knowledge I figured that doing so would be more than I could've handled, but it wasn't. That being said because of your jobs you should have your time well planned out for who is going to deal with the construction people and have a contingency plan for when things go wrong.