Purchasing first rental property in Wilmington. Trying to find other investors in that area.
Wilmington, DE. Already in contact. Just reaching out to other investors in the area for feedback. Good and bad.
Haha, yes, I was more asking where in Wilmington. There are a few of us around the BP forum.
Saint Elizabeth, hedgeville, Browntown. Do you have property in Wilmington? If so do you Self manage or use property management?
@Cameron F. Thanks for the feedback, Cameron.
Hey Jesse, welcome to Wilmington, great place to invest. Let me know if I can help at all - are you from the area or just investing here?
@Gavin Davie good afternoon Gavin, thanks for reaching out. I am just investing in Wilmington. I close on my first property in February. I read some of of your post, I see you also invest in Wilmington. How long have you been doing so? Do you self manage or use a management company?
@Jesse Dejesus I've been investing for 2 years now, I have 2 duplexes in Wilm. I use a property management company - Ideal Property Solutions - run by @Jessica Stiner - can't recommended them enough. I already have a full time job, I don't need another one.
If you know where to look there are a lot of great rentals (also something Jessica can advise on). Wilmington has some very depressed areas too so be careful if you're not familiar (or maybe that's your investing strategy - I don't judge).
@Gavin Davie Property is located in Hedgeville, not to far from riverfront. My goal is to buy to hold, as long as cash flow is right. I’m just beginning so I have made some mistakes. But I am remaining positive and so far numbers are positive.
Hedgeville didn’t Seem as bad as some other neighborhoods i visited. Some of them reminded me of Brooklyn in the 90’s. Kind of sad to see. Because I don’t reside in New Castle County, I have to use a management company. That in itself has been a little challenging.
I’ve come across two that I’m considering. Have you heard of Rentwell or White Robbins? Good/bad? What is you opinion on Hedgeville? What other areas in that price range would you recommend?
I'd rec Ideal Property Solutions from my previous post (https://www.idealsolutions247....) - I have never heard of either of those you mentioned. Hedgeville is.... ehhh... But again it depends on your strategy. I think a lot of that area is Section 8, which can be very lucrative but high maint. Some prop. mgmt companies won't even manage properties in certain areas of Wilm.
@Gavin Davie Thanks for the feedback, areas you would recommend?
@Jesse Dejesus - DM'd you
@Gavin Davie much appreciated!