All Forum Posts by: Tim Mensch

Hi @Daniel C., I grew up in Lower Bucks County and still reside in the area.  There aren’t many small multi-family (duplexes/triplexes) properties available in the area outside of the aforementioned Morrisville and Bristol.  You have to be careful with these cities as they both have “B-grade” and “C-grade” areas within a few streets of each other...just like Philadelphia and most areas.  As mentioned above, the competition is tough when the multi-families pop up as they are few and far between.  I have a few clients who have given up in Bucks County and only are looking in NE Philly.  These clients are also not living in the properties so the situation is different.  If you have any specific questions on the area just send me a PM anytime.  Best of luck.  

Sorry, didn’t realize this thread was still going.

Bryon...my brokerage used first patriot land transfer. They should be able to handle anything that you need. Did you get the Tullytown property off the MLS?

Kim...I am currently looking for my first investment property.  Are your rentals in Bucks County?

congrats, looks good. Was this property in Bristol Boro?

I wish it were different but they just aren’t out there. I work with an investor who has success in Northeast Philadelphia multi-families but not Bucks County.  Are your single families centralized in one area of Bucks or spread out?  

I would be happy to provide you with any information on rentals in Bucks County. I grew up in Levittown and live in Fairlees Hills so I am very familiar with the area. Unfortunately there aren’t many duplexes or tri-plexes in the immediate area outside of the city. Bristol Boro may have a few from time to time. Pm me with any questions or details with exactly what you are looking to accomplish. 

I am currently a license realtor.  Do most investors use the typical agreement of sale for their state or use a different contract.  If using a different contract, does anyone have a good one that they use?

I am about to go to my first appointment for an off market purchase on a flip.  I was wondering if anyone had a forum post about the steps on an off-market deal?  I understand that I need to see the property, have a full grasp on comps, and know my repair costs.  My concern is the process investors use to get information on the owner.  Do you come right out and ask what they owe on the property and any other liens and get proof from the owner?  Do you pay a title company to search all of these details?  I assume that most people skip the inspection process with properties that need a complete gut.   This would be a cash deal so appraisal is not necessary.  Always wondered if there were scripts out there to help with the nerves aspect.  Any help is greatly appreciated.

Thank you for the quick responses. Our local MLS has the commercial listings available but do not give a value assessment for the property. That sounds like a great feature. I would love to see the day where everyone uses the same MLS.

20% sounds like a fair referral fee.  I will present this to some local agents and hopefully they will think the same.

My broker said the same thing as far as building vs. business. I wouldn’t have an issue with a simple building transaction but this one involves 2 residential properties, a variance,  and soil removal. I would not feel comfortable representing a client without full knowledge of these processes.  My problem is that there are no commercial agents in my brokerage.  My broker sent me a contact for an independent broker and suggested i use him as a mentor and give him the lead.  My issue is that I have no deire to get into commercial real estate at this point in my career so would rather either collect a referral or work (show properties, inspections, write contracts) with another agent for a split.  I was just curious if anyone has done something similar or if any local commercial agents would be interested. 

I work part time as a realtor and recently had a family member come to me looking to buy a commercial property for his small business.  Since I have only done residential transactions I was curious to see what other agents do in this type of situation. He is a qualified buyer who will end up buying so I would hate to just give the business away.  I was curious to see if anyone else was ever in this situation and what they did.  I had suggestions ranging from asking an experienced commercial agent to mentor you through the process in exchange for the full commission to splitting the commission by doing the leg work on the deal and having an agent overseeing the transaction.  Thank you in advance for any suggestions.