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All Forum Posts by: Alan Asriants

Alan Asriants has started 99 posts and replied 1460 times.

Post: New to Real Estate Investing - Westchester, Malvern, Pottstown, PVille, KOP

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059

Hey Robert,

How’s your search coming along?

Typically, what I recommend for my clients is to focus on properties in solid locations that can attract high-quality tenants. This strategy might not deliver the best short-term returns, but it usually leads to strong long-term results, with higher rents and better value appreciation over time.

It’s also really important to buy a property that’s well-built. There are many multifamily conversions out there that were done improperly years ago and haven't been maintained since. If major capital expense (CapEx) projects—like plumbing, electrical, HVAC, sheetrock, or flooring—haven't been addressed in the last 20 years, they'll likely fall on you.

That’s why, when I’m showing homes, I steer clients away from poorly converted and outdated multifamilies. These types of properties often require a full gut rehab, even if they look “livable” on the surface. People are drawn to them because they appear to “cash flow” better—of course they do, because they’re priced lower and need major work behind the walls.

My general rule of thumb in today’s market—especially for house hacking—is this:
Look for a property that’s structurally sound, maybe needs some cosmetic work, and if the cost of living in one unit while renting out the other is comparable to what you’d pay in rent, then you’re in a decent position.

Real estate investing isn’t sexy—especially now. The best strategy for most people is to buy a primary residence, live in it for a few years, then keep it as a rental. Take advantage of low down payment options, save up, and repeat. After five years, you could own 2–3 properties, and in 30 years, they’ll be paid off and cash-flowing solidly.

Hope this helps—reach out anytime!

Post: Inherited Duplex Listed at $460K—Comps at $350K. How to Negotiate?

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059

Hey Bartosz, 

Can you share more detail on the address? Without it, it is tough to understand direct comps. That being said this is not the first time I have seen FSBO trying to get 150% of the market value trying to sell it themselves. Lots of times FSBO are not reasonable, don't want to spend agent fees and want way more than top dollar for something in very average if not below average condition.

Assessed value and market value in this case are likely not aligned. The city raised a lot of assessed values in the city in areas that do not justify that price. The city is getting a lot of backlash for this. I will admit in some areas they are spot on but in others they WAY overvalued them. Looks like they want more $$$

Post: 25 and getting into real estate — would love your advice

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059

Hey Juan! Good for you for trying to get started so young! 

My best advice for anyone in this position is to HOUSEHACK! This is the path of least resistance for most people as it does not require 20-25% down, and you can take advantage of the best rate. 

Its tough enough as it is to save up for a 5% down payment and closing costs. For most people having 2-3 solid properties that will eventually be paid off is incredibly powerful and an amazing investment strategy. 

There's no need to reinvent the wheel here. Buy a home, live in it, after a few years move out and rent it out and repeat this a few times until you are ready for your BIG move and are done with your investments.

Using low money down leverage is a powerful tool. 

Just make sure to buy the right home in the right location! Appreciation will take care of the rest! Best of luck

Post: BRRRR Success in PA?

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059

Hey Ryan!

BRRRR is a really tough strategy in today's market—especially if you're trying to buy in solid locations. The market is bonkers, and fixer-uppers are selling at a premium, which means there's often not enough sweat equity in most deals to comfortably pull out money, create equity, and cash flow. This is a dilemma I’m currently facing myself. I bought a home for very cheap that needs a ton of renovation work, but even after all that effort, I still can’t get the darn thing to cash flow.

BRRRR can work in C–D neighborhoods, but that's a different type of asset class—one I personally don't vouch for. Most investors in those areas end up burnt out and eventually sell off their properties because of the constant upkeep and tenant-related headaches.

BRRRR was hot back when no one really knew about real estate, prices were reasonable, and you could cash flow with 0% down. That's just not the nature of the market anymore.

For most people, I’ve found that the best strategy today is a long-term house hack—either a small multifamily or a single-family home that you live in first and eventually turn into a rental. If you do that 2–3 times over the course of 5 or so years, you’ll be far ahead.

Hope this helps—reach out anytime!

Post: Feeling Defeated as a Small Landlord in Philadelphia – I Just Want Out

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059

Hey Tiffany, I am really sorry to hear that your are going through this. It sounds like you are an understanding person and its a shame that this is happening to you. Unfortunately the only way through is through. People make real estate investing out to be a real breeze and maybe someone even sold you on that, but the truth is - it is not!

If you don't do your due diligence properly, don't buy in the right location, and don't have a proper way of dealing with people (along with 800 other things) you can get bit hard! 

I am a local agent and investor in the area, and I would be happy to connect you with an eviction lawyer who can help, but also I am happy to connect and strategize as to why this is happening to you and to hear your story a little more. Maybe with a few extra steps we can prevent this from happening again

2 bad eggs in a row sounds like: 

1. poor screening process

2. location

3. Maybe even condition of the property

For your sake I hope its point #1 and #3 so that you can just rip this band aid off - and LEARN as much as possible. This way you can fix your screening process, make necessary updates and get the RIGHT tenant in - happy to give you pointers on how I do this. With experience I have come to notice many red flags right away and happy to share them with you.

Reach out anytime

Post: Working with a contracting on a renovation? Follow these tips

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059

If you’ve never worked with a contractor before, there’s a good chance you could end up frustrated. Contractors are often notorious for not finishing jobs, taking too long, or failing to complete all the work you agreed on. Below are a few helpful tips to help you avoid many of these common headaches:

1. Get references
Always ask for references. Talk to people who have used the contractor before—ask about their experience and request photos of the completed work. Many people choose the lowest bidder and end up with the lowest quality results. While price can reflect quality, that’s not always the case. I personally work with contractors who charge less but deliver excellent results. A couple of solid references can go a long way in helping you avoid being taken advantage of.

2. Write a detailed contract
Contractors often aren’t great at writing contracts—especially those offering cheaper bids. Some may not offer a contract at all. Do not skip this step. Even if a contractor sends a basic quote or scope of work, I make sure to rewrite it to be as detailed as possible—especially when working with them for the first time. The more detail you include, the easier it will be to point to the contract when there’s a dispute about what was agreed upon.

3. Avoid large upfront deposits
There’s usually no need to give a contractor 50% upfront unless it’s a large-scale job like roofing. I prefer paying in increments tied to completed milestones rather than two large lump sums. As you get to know and trust the contractor, you’ll be better able to adjust how you handle payments.

4. Watch for the runaround
This one is tough, especially if you’re new to renovations. Some contractors are very convincing when explaining why their shortcut is “the right way” to do something. In many cases, it’s just the cheaper or easier option—not the best one. If you’re unsure, ask a friend, mentor, or your real estate agent. You can also search YouTube for how a specific task—like installing tile or cabinets—should be done. And don’t assume that a high price guarantees high-quality work. I’ve seen contractors charge top dollar for results that were far worse than my lower-priced, more skilled crews.

5. Leave enough "juice to squeeze"
As your project nears completion, don’t leave only a small amount unpaid. If your renovation budget is $10,000 and you leave only $500 to cover finishing touches, you’ll likely have a hard time getting the contractor back to complete them. Those final details—like caulking, silicone, and trim—are often time-consuming and make a big difference in the finished look. Give them a real incentive to return. Personally, I wouldn’t leave less than 10% of the budget unpaid—ideally closer to 25%.

6. Do a thorough walkthrough before final payment
Before you make that final payment, double-check everything. Open every cabinet door, test all appliances, run the water—both hot and cold. Look for any floor separation, unfinished details, or missing elements. Go over everything thoroughly. If you’re not sure what to check, pull up a walkthrough video on YouTube or ask me.

Best of luck—and don’t be afraid to hold your contractor to a high standard!

Post: Philadelphia ZIP code map

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059

Stuart is correct, gathering just online data while good, is only part of the puzzle. Online data will give you good general information but still might be to general of an area to point to regarding market trends. 

You can use this website for crime statistics:

https://www.phillypolice.com/district/district-gis/

You can also use city-data.com for more info on demographics, income, etc

That being said breaking it down by Zip if not always the best tool because you can have 2 very drastic neighborhoods within same zip like:

Graduate Hospital and Grays Ferry

Fox Chase and Lawndale

West Mount Airy and Part of E Mount Airy

and so on...

If you need to talk about the market or strategies please dont hesitate to reach out. 

Post: NO MONEY DOWN! Sounds great but please tread lightly...

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059
Quote from @Chris Seveney:

I couldn’t agree more with this perspective.

There’s a dangerous rise in “zero-down” real estate advice that glosses over the very real risks involved. Strategies like using business credit cards for a down payment might work on paper, but they hinge on flawless execution in an imperfect world. One delay, one appraisal shortfall, one shift in interest rates—and you're looking at high-interest debt with no exit.

That’s not a business plan—it’s a gamble.

The most successful real estate investors I know built their portfolios gradually, anchored in sound underwriting, cash flow, and reserves—not hype or shortcuts. Whether you’re investing in a single-family rental or a multi-unit development, the fundamentals matter:

Buy right --- Finance conservatively --- Maintain your asset --- Think long-term

If you don’t have the capital today, that’s not a reason to rush into a high-risk strategy. Start where you are. Partner up. Learn from experienced operators. Even owning a few well-positioned properties over time can transform your financial future.

Real estate can absolutely build wealth—but only when it’s approached with patience and discipline, not promises of overnight success.


 Well said, its a gamble. If you dont have the 25% downpayment start small and with your primary residence as a househack or future rental when you move out. Best way to get started without taking unnecessary risk. 

Post: NO MONEY DOWN! Sounds great but please tread lightly...

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059
Quote from @Eric Blair:

I like to gamble with options contracts and even I wouldn't use a credit card in this manner lol

But I do have a question. I wanted to get your opinion on my strategy. I am buying a home using my VA entitlement. It will be my primary. Instead of doing a down payment, I am buying down the rate via points. I figured why do a down payment and have a high rate when I could do zero down, pay no PMI and buy down the rate to 5%. What are your thoughts on this?


Usually from what I see it doesnt make sense to pay points, unless the rates go up or stay the same over the course of a couple years. Plus it might make more sense to apply that money to equity instead. VA loans area already pretty competitive interest rate wise and no PMI. Just have to do that math - if I pay points how much am I saving and how long will I get my money back. Plus remember if you REFI you will need to pay lender fees and title fees again. Do the math as a whole. Likely it wont make sense, unless you are comfortable holding that note for many years - or when the interest rate savings have exceeded your payment in points

Post: NO MONEY DOWN! Sounds great but please tread lightly...

Alan Asriants
Posted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 1,476
  • Votes 1,059
Quote from @Jay Hinrichs:
Quote from @Caleb Brown:

Amen. People want a new trick or way to get their foot in the door. Increasing leverage will always increase risk, at a certain point it is just plain stupid and foolish. It's easier for people to go down a rabbit whole then address their financial situation. 


gurus have been preaching no money down for decades  Carleton sheets and Dave Del Dotto etc etc.  business teaser rate cards ONLY work in my mind if you have the cash in the bank to pay them off if needed.. and are best used for say rehab project.. were your going to buy materials and you will refi in a few months and then pay them off.. keep in mind you borrow a ton on a CC and your fico goes into the toilet.

Exactly there needs to be a solid in and out strategy like a quick flip or solid BRRRR. But banking on appreciation and insane year over year growths is 100% a risk...