Newbie from York, PA

22 Replies

Thanks everyone for all of the great posts and info! Friends call me Tony. I’m new to BP and have been drinking from the fire-hose of knowledge available on the forums and blogs. I've held one rental property at a time for almost ten years, and am finally looking to add more. Here's to the end of paralysis!

My plan was to buy and hold, and have another rental property by the end of the year.... then I learned about brrrr... now I feel the possibilities are endless! 

Hoping to connect with investment pros in the Philadelphia, PA, Central, PA and Baltimore, MD areas.

What a great site! Cheers! 

Congrats man! Are you looking for deal in York, PA as well?

Hello. Thanks yes I’m looking in York as well. I’m in York so that would be ideal, but I’m still new so I wasn’t sure about the market. Thought I read somewhere it’s hard to rent in York. Are you having success here? 

Welcome to BiggerPockets Anthony and best of luck investing!

Welcome to the BP family @Anthony Covington  ! Glad you joined the best real estate investing website! 

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Wishing you the best! 

@Anthony Covington

Hey Tony welcome to BP. Central PA is a great place to invest IMHO but there is definitely lots of competition. Seems like it’s that way in most markets though.

I’ve been doing BRRRRs for about 2 years and working on my 5th right now. My first 5 were turnkey/didn’t need any work. Own 10 total properties now.

@Kyle M. nice work. congrats! 10 properties is my goal. Inspiring to see it can happen in just 2 years! What's your strategy and criteria? I want to invest in small multifamily properties, but haven't seen many around, and find them hard to estimate ARV on. I'm open to SFH as well, but have no rehab experience. how were your margins on the turkeys? did you use a company?

@Anthony Covington

I used a turnkey company in Indianapolis for 3 properties. The returns are OK. I will say it is nice to have a few properties in a different market. Central PA is nice but Indy is hyper hot from a renter perspective. It’s easy to find good renters willing to pay high rent out there.

Now I'm looking for SFH's and small multi family that need a ton of work in C+/B/A- areas. Strategy is to buy cash, rehab and add value, then do a cash out refi - BRRRR!

Originally posted by @Anthony Covington :

Thanks everyone for all of the great posts and info! Friends call me Tony. I’m new to BP and have been drinking from the fire-hose of knowledge available on the forums and blogs. I've held one rental property at a time for almost ten years, and am finally looking to add more. Here's to the end of paralysis!

My plan was to buy and hold, and have another rental property by the end of the year.... then I learned about brrrr... now I feel the possibilities are endless! 

Hoping to connect with investment pros in the Philadelphia, PA, Central, PA and Baltimore, MD areas.

What a great site! Cheers! 

 Welcome aboard Tony.

@Kyle M. Exactly. Are you using hard money to fund your BRRRR purchases? I've got a rental property in FL I may HELOC for cash, but may not be able to fund purchase +rehab without additional funds... I've yet to look into turnkey companies but may now to get the ball rolling. Thanks!

@James Wise thank you! I'm listening to your guest spot on the podcast. Some real good stuff ! Hoping to make some partnering connections at my first REI meeting next week.

Originally posted by @Anthony Covington :

@Kyle M. Exactly. Are you using hard money to fund your BRRRR purchases? I've got a rental property in FL I may HELOC for cash, but may not be able to fund purchase +rehab without additional funds... I've yet to look into turnkey companies but may now to get the ball rolling. Thanks!

@James Wise thank you! I'm listening to your guest spot on the podcast. Some real good stuff ! Hoping to make some partnering connections at my first REI meeting next week.

 That's awesome man. Thanks I appreciate it!

@Anthony Covington

I use lines of credit and private money. It’s gotten really easy to get money, once you build a track record and know where to look.

I am in Baltimore - an auctioneer and investor now for over 40 years ---- this is a crazy business with many moving parts - I don't care what those folks selling education tell you - this is not an easy business to get in to and make money.

There are so many moving parts -

  • Finding the property
  • negotiate a price (and making mistakes on price)
  • Discuss seller financing - delayed settlement - money back at settlement
  • an exit strategy - getting out of the deal with a profit - by private treaty or auction - assignments -----
  • dealing with skinny contracts, title companies, sellers and all those who want to stop you from making a profit

It has taken me and my family many years to get this system right - 

I own a REIA and a school --- I have discover that there is more money in doing deals instead of teaching others others to do deals.

York Pa and the counties around it is a great place to invest, I have done deals there and intend to come back in April to do many more.

Look for my newspaper ads and radio commercials.

I will be glad to answer your questions and help you move forward in this business.

Stay in touch --- Charles

Welcome to BP! I'm new to the area but looking to invest in the York County as well. Just got preapproved for a loan and am looking at properties this weekend with my agent. Looking to hopefully find my first dalal after saying it instead of doing it for 2 years. Since we're in the same area, I'd love to get together sometime and talk real estate. Good luck with your goals

@Charles Parrish thank you for the advice. I'll reach out with questions. I am sure I will continue to have many moving forward, and value your experience as there is so much to learn. 

@Corwin Hernandez Thank you. Where area you investing in? Getting together would be great. There is an REI meetup here in York tomorrow evening I plan on attending. Message me for details if you want to link up there.

Hello, @Anthony Covington . Thank you very much for reaching out to the BiggerPockets community. It’s a good start towards successful deals. Congratulations and best of luck on your future endeavors. 

Sorry for the late reply, I attended the meeting I believe you're talking about at four points and thought I saw you but wasn't sure. My apologies! There is another one this Thursday I plan on attending. I'm interested in York county

@Anthony Covington Welcome to Bigger Pockets, Tony!

Welcome to BP and the area!!!

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