All Forum Posts by: Marcus Isaac

I don't own the property the bank does. Maybe a better question is what can you do with a property that can't technically be a duplex even if you pay for the permits but is already split as one. Is the only solution to convert it back to a sfh? 

If all the work is inspected and permitted, but it can't technically be a duplex due to lack of size can you treat it as a sfh and rent the rooms out?

What would be some of the problems that may arise with trying to rent rooms in a property that has been illegally converted into a duplex? It was a 2-story sfh that now has a unit on the bottom and a unit on the top, but no permits were pulled, and it doesn't meet the local requirements to be legally converted into a duplex (needs to be 4,000 sqft and it's only 2200).

@Vallory Clardy Welcome to BP. If you have any questions about the Delaware market feel free to reach out.

@Rocco Grossi @Mary B. Yes running the numbers. I know how to, but I'm looking to build a relationship with a realtor. I have access to the MLS, and analyzed plenty of properties but I'm not licensed in PA and would rather outsource the bulk of the research to someone who is getting paid for it.

Can anyone recommend a realtor in Philly or Delaware County that knows how to evaluate small multi-families? Thanks.

@Rocco Grossi Considering you are tight on cash you are much better off doing this in PA. I've been considering the same thing, but want to save up a little bit more money.  In over a year I have yet to find a multifamily in a decent area of Wilmington where the numbers would work for cash flow. However If you aren't worried about the environment you'll definitely able to find something somewhere in Wilmington.

@Vonetta Booker   I usually structure calls in this order:

• Condition/Size
• Why do they want to sell
• Is there anything owed
• What they want for it
• Set Apppointment if interesting or Pass if not

One of the most important things is how you ask though. It's really easy to offend people that are actually dealing with a situation. I could email you my script if you want.

@Nick Jones First you want to build an app (extremely simple) to categorize the information you want to collect for the lead. If you search the real estate section of the app thing on the website you can find pre-built lead trackers that you can customize. The website is overwhelming at first, but if you mess with it for a while you will get the hang of it.

Which school is it? If the college is in a urban area 4.5mi is very far because most people at urban schools walk to where they need to go. However if the rent is cheap enough people will flock.

If the college isn't urban its not too bad, but also ask yourself would you be able to rent it out and profit from someone who doesn't go to the college, and lives in the surrounding area.

Also don't worry about the bathroom thing unless all your fellow landlords are offering two bathrooms. Then you would have to adjust your asking rent.

I think quality will play a big role on whether or not these printers will see success. People admire custom work.