All Forum Posts by: Angie Williams

Hey Jon, just curious was this home in old Howard or new Howard? I assume old Howard seeing it's a 3 family?

Just curious how others feel about any or all of the property auctions in Philly or PA in general ? Waste of time and money? Or an actual deal?

Just curious how others feel about any or all of the property auctions in Philly or PA in general ? Waste of time and money? Or an actual deal?

They are "Squatters" not tenants. Start the ejectment process ASAP, it usually takes 2-3 months for it to finally have authorities remove them. Be prepared for some unwarranted behavior, such as districting of amenities. I went through this with a home I bought at a foreclosure sale. It took close to 6 months due to the major holidays and around $4,000 when all was said and done. DO NOT change locks or enter the property without notice. Squatters actually have a slew of rights that you would never know they had as well as tenants. If you really want to go onto the property not enter into the property it will be a civil issue, so make sure you have police officers to escort you onto YOUR property. Good luck. It's going to be a long and frustrating road, but it will get done with persistence on your part.

oh johnathan been here done that worst experience ever. Us landlords have no rights when it comes to tenants. Tenants are always favored, even squatters by law. I went through a 8 month sheriff eviction. It cost me thousands after filing fees, lose of income, and the best part was I even had to pay for the moving truck for her belongings to be sent to a storage facility for one month that I also had to pay for. 

Do you have a lease? Without a lease they are deemed squatters. Which is the worst case senario. I actually had a 23 yr old girl, heroin addict, and her 4 children squat in my home and had to sit back and wait close to 8 months. She literally stayed up until the last minute when the sheriffs came, Guns drawn, to find she was sleeping upstairs with not a care in the world. 

They removed her from the property as well as her belongings. I truly hope you don't have to take this route. Defiantly consider cash for keys!!! Best option to try. Maybe pay for his first months rent and security so he has initiative to leave. Most likely it's always financial reasons which is why they aren't leaving. Believe me it's a lot cheaper then going through the system. Because the judge most likely won't consider any back rent owed from the renter just a date he needs to vacate and that's still not promised. Also, follow all rules, don't turn off any utilities, don't change locks, do not go into the apartment without notice, etc. because then you will take all the heat for breaking the laws not him. Have anything and everything in writing, print out all convos, write down all dates and any issues that have occurred. You want to cover yourself at all costs if you have to go to court. The timeline for eviction is immediate once rent has stopped being paid I believe. But it's going to take a couple more moths to get him out. Some advice ...start now!!! And Good luck, hope all well!

I have yet to have any tenants ask to paint the walls, but I do have a clause in all leases stating they "need written permission from the landlord to perform any interior changes in the apartment, such as painting, tiling,etc." As well as, no exterior changes allowed at all. Also when "The tenant vacates the premises a licensed professional at the tenants cost most perform all work to leave the apartment in the same exact condition they moved in" This may deter the tenant from changing anything in the apartment, but seems to work. I haven't had any issues with changes in any of my homes. I did have one issue with a tenant that broke the lease by smoking in the home. Some rooms smelt like an actual ashtray. I didn't withhold their entire deposit which I could have, but they did have to buy paint and all supplies for me to recondition the home to smell like a freshly painted home again. It's defiantly based on different cases every time and how I feel need be to fix any issues.

Hello sorry for the delayed and late response. I had to work late. I ALWAYS check Zillow. They send me new listing probably 10-15 times a day. You can check other I just prefer Zillow, also bought a home from it. But all homes are public record so if you see something your interested in go to the city website and it will have all the correct info for you.

I'm not to sure what you mean by a VA? Could you please explain. You don't mean a VA loan, do you?

It's not how long it took to find tenants because if the rental is  priced right people will call and call and call. Majority of the time I don't have the man power to screen everyone. People are always looking to rent. It will be at your will who you accept. Always ask for 2-3 up to date payroll checks, last 2 months bank statements, ID, and have a list of questions you can ask off the top of your head. Again, this is a business and your looking to hire the best employees. I rarely ask for references, and the reason why is because anyone can be their reference. One truly  dowsnt know who is on the other end of the phone. People lie and will have their friends to act as their last employment or landlord. I just prefer to pick there brain when it comes to references and you can almost always tell if their lying or not. But as for as getting a tenant never was an issue. It will always be a renters market, no matter how many people are buying homes. Hope that answered some of your question. Where are you looking to invest?

Seeing the comps and price of the home, it wouldn't make sense to rebuild an entire new house. The demolition of a home that size alone can cost upwards to $15-$20,000 with permits for the pipes under ground, above ground wiring, a demolition company with heavy duty machinery, and the tons of debris you need to be hauled to a dump. A dump truck alone per yard is very pricey.....Then you have to rebuild! Just rehab it, bring out its natural essence of it being built in the 1800's. Not every buyer is looking for "modern" which you can still do while leaving a bit of the 1800's look in it.

Wow! Great for you at 19 years old and starting to invest in real estate. I started when I was 24 and still wish I had started younger. In my opinion it really all depends on what you want to do. The fact it's a cash deal won't play much of a part in your decision on what real estate venture you choose. Cash is just always better when dealing with a closing and sellers prefer cash deals more so then mortgages. It's always best to buy with cash if you can. I have one mortgage on my first home from when I was 26 the others I always bought in cash. Renting: Are you willing and able to be a landlord? When buying a home you become a business owner, it's just like buying into a business. You run and operate your property exactly how you would a business. There is a ton of responsibility with renting. For example, Can you make it to the property if a pipe burst at 2am in the morning? Also, Constant maintenance and up keep is required. I go by my properties on a weekly basis to make sure everything is running smoothly. Are you prepared to deal with tenants and all the issues that come along with them living on your property? These are some things to consider. But on the flip side, I love it! I have great tenants, I have a good amount of monthly income that covers all mortgages and leaves me with money for incidentals and profit. Flipping is also a great way to make money, but you can lose it just as quick as you can make it. A lot of people have this misconception that you buy a property, fix it up, sell it and BAM your rich. Not the case at all, at least when I started out flipping. I had to go broke and had a lot of debt on my first one, you have to be prepared to have money for all types of rehab issues on the property. Contractors, sub contractors, permits, licenses, RE agents, etc are very time and money consuming. Always, for some reason after a couple weeks something always goes wrong and something needs to be re-wired or a wall needs demo b/c of an old pipe that has a slow leak when you turned the water on. Also, IMPORTANT know the market that's probably the most crucial aspect when flipping. I check the market on areas daily, I research any new developments in the future or pay attention to crime rates and neighbors, etc. If you don't do your homework on comps that compare to YOUR home not comps of the general area and homes that are not similar to yours you can fall short of any profit. It's a gamble, but an exciting one. I love to micromanage and rebuild the home and change layouts and pick out granite and design the bathrooms, etc. it's a rush for me. You can do very well for yourself flipping as long as you do the research, I did and still do to this day spend hours sometimes researching areas that I potentially want to buy in. Just don't jump in blind or you can end up in a mess. What it all boils down to is what you are ready for and what you can handle. I started out first renting. I'm very happy I did it this way,because I was able to learn along the way such things like tenant landlord rights, building rules and regs, comps, and all aspects at a slow rate. When you flip you have to be ready to move quick. You have a time frame and it's not long, you want to sell as quick as you can and role that money over into another investment. But good luck, and this is just my own experiences and opinions. But it's very exciting and wouldn't change what info for any other job!! :)

Thanks Tiffany, and sorry if I came off so blunt before I was on the belt in traffic so I kinda was already heated. But also im just exhausted searching for NY real estate. My thoughts on Brooklyn is the SIDS and their rabbi already took over, once that happens consider in gone! Lol and anywhere the hipsters go seems to be the next best thing. I hear the Rockaways are coming up as well as parts of east NY. But unless you really know people in the area We won't get any deal through websites or MLS. But just a heads up I went to Philly totally blind and did my research, research, research, talk to locals, drive around all the areas I had in mind as you will see what you like the best.

Also, I find Zillow to be much more accurate and one of the best online social sites to get some correct facts and specs. I only say this cause when I look up my properties on Trulia all the information is incorrect.  Also, a great site besides for propertyshark which is $$$ is homepath.com and Redfin would be my top three. But it's all preference. You can always just check the city data and all the correct information is there for you to see.

Also, the homes I bought in Philly we're no more the $23,000 with very good comps in areas that are appreciating over time. 

Well if you need any advice from a New Yorker to a New Yorker trying to invest out of town don't hesitate to ask. I'm sure you could advice me as well! Im a always willing to learn more. :)