All Forum Posts by: Candace Noel
Candace Noel has started 5 posts and replied 32 times.
Post: Is it Wise? Out of State LLC for Baltimore Property
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Originally posted by @Taylor Wrice-Brooks:
@Candace Noel - Hope all is well! Did you ever invest in Baltimore or Maryland? Also, did you end up getting the OofS LLC for Baltimore Properties?
Hi Taylor, no....I began exploring Hagerstown and Harrisburg, PA.
Post: Harrisburg, PA (Allison Hill -- Opportunity Zone)
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Originally posted by @Doug Pintarch:
@Candace Noel
That would be Hall Manor. Home of the apartments with no front doors.
😮
😳😳😳 Oh boy!! I didn't even know that was a thing! Lol Ok, duly noted. Thanks so much for your help!!! 🤗
Post: Harrisburg, PA (Allison Hill -- Opportunity Zone)
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
@Doug Pintarch, by the way, where is the 2nd red zone so I know the other part of town I should steer clear of. Thanks for your help! :-)
Post: Harrisburg, PA (Allison Hill -- Opportunity Zone)
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Originally posted by @Beck Joyner:
Yes, the area is D, borderline F. Even though it is close to HU, they are a world apart. Expect little to no appreciation, however, it's a great cash flow deal and worth pursuing. Be sure to budget adequately for repairs and maintenance and be prepared to keep up the property. Too many folks get into these properties and don't want to take care of them and they often have deferred maintenance as a result. How is the rest of the block? Is it in decent shape without little to no derelict properties on the block?
I'm not sure how likely a reassessment is, though!
I absolutely agree, I noticed that from the time the seller purchased it, more than a decade ago, it's still worth the same amount today -- which surprised me (another sign of the neighborhood condition). Yes, looking at the cash flow it is a very attractive deal. Being approximately 2 1/2 hours away makes me a little more cautious -- especially based on the comment above from Doug (about it being a red zone). I have not driven to the property yet. Due to the COVID orders -- they weren't allowing showings (at the time).
I'm thinking the reassessment is a no go....LOL.
Post: Harrisburg, PA (Allison Hill -- Opportunity Zone)
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Originally posted by @Doug Pintarch:
I live in Harrisburg and ride my bike through all sections of the city weekly. Allison Hill is the second worst section of town. I would not invest in there unless I lived a few miles away and could constantly watch and monitor my property. I can do both of those things and still don't invest there. Many opportunities can be found in Harrisburg that are not in the 2 red zones. We invest in beach rentals and have no desire to be local landlords.
Wow! That says a lot! I've been having my hesitations and now I see why the property (at one point) sat on the market for over a year. That's really disappointing news. I'm thinking I'll skip this property. Another investor in that area with 18+ units also made the same recommendation (to skip the deal).
Post: Harrisburg pa landlord insurance
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Originally posted by @Cory Iannacone:
I️ have a broker you can use. PM me. I️ looked at State Farm but it wasn’t as good as what I️ got through my broker
Hi Cory, would you mind connecting me with your insurance broker? I'm in the process of negotiating a 5 unit and will need some good insurance. Thanks!
Post: Harrisburg, PA (Allison Hill -- Opportunity Zone)
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Hi everyone! I live in NOVA and I'm currently negotiating a deal in Harrisburg that's 5 units in the Allison Hill area. It is within a couple mile radius from the Harrisburg University of Science and Technology. I was wondering what you think of that area. It's located in an "opportunity zone" so I'm sure that means it might be a D class property. Do you know of good property managers for that area? Would you recommend investing there? It's 5 units for about $100k with rents at about $2,500/month. Taxes seem to be high in the city of Harrisburg. And the properties sit for a long time. Is there a way to get the properties reassessed to lower the taxes? Or is that like asking for a Christmas miracle? lol
Post: Converting Oil heat to gas heat - Edison, NJ
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Following...
PS, I also found this thread regarding Oil heat conversion: https://www.biggerpockets.com/forums/67/topics/598222-conversion-of-the-heating-system-from-oil-to-gas
Post: Take over Payments/Wrap around mortgage
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16
Following...
Post: Owner finance tax and insurance
- Real Estate Broker
- Woodbridge, VA
- Posts 33
- Votes 16