All Forum Posts by: Account Closed

@John M Chludzinski

Thank you for the great advise !. Will look into this. 

Weird that my notifications didnt work. I happened to look back into my old past and found your answer.

Thanks all for this terrific information. 

Thank you!

Thank you all for your super helpful responses.

Has anyone asked to see the schedule E tax form of the seller for the property as part of your due diligence? Wouldn't this be the best way to see their income and expenses.  It's unlikely anyone would be tempted to claim high income and low expenses on schedule E.

Has any seller ever given their schedule E tax form to you?

Hello All, 

I am trying to purchase a 5 unit in PA. I had requested the following information from the seller.

1) Annual property operating data for the last 12 months.

2) Current rent roll

3) Past rent roll for 12 months.

The sellers agent came back and said- nope! 

The seller apparently doesn't have that information and told me to just go through the information provided on MLS. What would you do in such a situation.

Also, I am new to multifamily purchasing.

What documents do you absolutely need from the seller before making an offer on the property?

Thanks!

@Zach Robbins

Thank you for the input. I am looking at some numbers and will reach out to you.

@Dave Godfrey

I am looking at both student housing and also college towns. Basically a location what would get rented quickly with people with decent/good credit scores.

I am looking at a price point 250 to 400k. Would prefer multifamily.

I am looking at state college/ Hershey/

Are there are other towns with good colleges/ universities apart from philly.

Thanks for all your inputs.

It seems to be the case in almost any property I try to analyze numbers  in jersey. Given my day job, I do not have the time/ skill to look for rehabs/ flips etc.

I am switching gears and trying to look into multifamilies to see if they cash flow and will sell this property in near future if I can.

What's wrong with thinking  this way - the tenant and me are sharing costs for 30 years. The tenant pays the lions share of this cost sharing,(while I pay 100$/month which is nothing) and I own the property free and clear when I retire.

Granted there are repair costs/capex, but even cash flowing properties have those costs.

Then me/ my next generation can continue to benefit from the cash flow

@Vidit S.

Thanks.

I am looking into multifamilies/ sfh near college towns of Pennsylvania for rental income, I live in NJ / work in PA in healthcare and do not mind out of state investing.

Thanks.

I am new to PA region. Just started working there in October 2018.

Are there are any good locations in north eastern Pennsylvania for investing in rental properties with good schools and tenant population.