All Forum Posts by: Brandon Morgan
Brandon Morgan has started 40 posts and replied 112 times.
Quote from @Nadiyah Malbon:
I live in NJ and primarily invest out of state. Over the years, I have built local teams ( agents, contractors, property management, inspectors) that serve as my eyes and ears. I conduct virtual tours and rely on their expertise when making offer and rehabbing. It can absolutely be done.
where out of state have you went? I recently started looking at Pennsylvania.
Post: buying rental properties in Pennsylvania
- Posts 112
- Votes 111
Quote from @Tanner Lewis:
I've done quite a few deals in Pennsylvania. Many of them have worked pretty well as rural STRs, I have also seen a few LTRs, but honestly not a lot of flips. The BRRRR strategy works pretty well in some PA submarkets.
Post: buying rental properties in Pennsylvania
- Posts 112
- Votes 111
Quote from @Dan Marriggi:
I am a native to the area.
Scranton has many hoops to jump as an investor - esp. an out of the area investor.
One is you'd have to hire a property manager if you do not live in the city of Scranton or within 20 miles of the city.
Real estate taxes are high -that plus the current interest rate and ask prices makes cash flow an issue.
You can find "deals" but please do your due diligence.
Here is an example of a potential deal I am evaluating in the hill section of the city: 20 y/o, 2000 sq ft. 3b/3bath TH - Needs paint, new carpeting, and general wear and tear repairs after a 4 year tenant. Ask price off market: $250K, No HOA, rents approx: $1900-2100/month, RE taxes approx : 7400/year, Property insurance : $1200/year, Misc fees trash,rent registration etc : $400 / year
Evaluate this and let me know your thoughts.
I mean based on what I've seen it still seems a lot better than what I've been seeing in New jersey. I wouldn't be able to get something like that for anything less than 500k here.
Post: buying rental properties in Pennsylvania
- Posts 112
- Votes 111
Quote from @Dan Marriggi:
I am a native to the area.
Scranton has many hoops to jump as an investor - esp. an out of the area investor.
One is you'd have to hire a property manager if you do not live in the city of Scranton or within 20 miles of the city.
Real estate taxes are high -that plus the current interest rate and ask prices makes cash flow an issue.
You can find "deals" but please do your due diligence.
Here is an example of a potential deal I am evaluating in the hill section of the city: 20 y/o, 2000 sq ft. 3b/3bath TH - Needs paint, new carpeting, and general wear and tear repairs after a 4 year tenant. Ask price off market: $250K, No HOA, rents approx: $1900-2100/month, RE taxes approx : 7400/year, Property insurance : $1200/year, Misc fees trash,rent registration etc : $400 / year
Evaluate this and let me know your thoughts.
Post: buying rental properties in Pennsylvania
- Posts 112
- Votes 111
Is this just a single family? based on what I looked at with the calculator the mortgage is around $2400 monthly not including extra fees. if rent is around 2000 a month you'd definitely be under. I mean maybe if its fixed up it could add some value but it seems to be negative. but My math could be wrong I'm still new to this haha. what would you do in this situation?
Post: buying rental properties in Pennsylvania
- Posts 112
- Votes 111
Hi all I am looking to buy My first property for rent. I am new to real estate. I Live in jersey and the Prices seem to not be going down here and there is little to no inventory So I started to look at Pennsylvania. Pennsylvania specifically the Scranton area seems to have more options and the prices are better. looking to buy a multifamily for rent or even a flip depending on the numbers. Does anyone have any experiences with Pennsylvania? is it worth it? does anyone know about rental properties in that area? any advice on the matter would be great. open to any suggestions.
hi all I am new to Real estate and have been trying to buy a property for the last 2 years but it is not working out. I live in the New Jersey /New York area and prices continue to climb and they do not look like they are falling any time soon. Recently I have been thinking about investing out of the state and I noticed Pennsylvania has significantly lower prices. does anyone have any experiences with Pennsylvania, So far I have been looking around the Scranton Area. I make a little over 100k a year and have 50k currently ready for a down payment. any insight would be helpful. I am looking to buy properties to rent out preferably multifamilies, or even a flip depending on the numbers.
hey all I am new to Real estate and have been trying to buy a property for the last 2 years but it is not working out. I live in the New Jersey New York area and prices continue to climb and they do not look like they are falling any time soon. Recently I have been thinking about investing out of the state . I have been thinking Florida or somewhere else down south could be a good idea. Does anyone have any experience or advise with this? I make a little over 100k a year and have 50k currently ready for a down payment. any insight would be helpful.
Post: Investing out of state/country Puerto Rico
- Posts 112
- Votes 111
hey all I am new to Real estate and have been trying to buy a property for the last 2 years but it is not working out. I live in the New Jersey New York area and prices continue to climb and they do not look like they are falling any time soon. Recently I have been thinking about investing out of the state/ country. I have been thinking Puerto Rico or even Mexico could be a good idea. Does anyone have any experience or advise with this? I make a little over 100k a year and have 50k currently ready for a down payment. any insight would be helpful.
does anyone have any experience with investing in self storage? I am new to investing in real estate but I am open to new forms of investing. I recently started looking into self storage. Anyone have any advice on this in regards to how much money is needed, what to do starting out, how to start etc?