All Forum Posts by: Christian Bors

Depressed area. Only 2 employers, court house and ywengling. Wouldn’t be my first choice. 

Hi Greg,

I am realtor and investor in the Harrisburg area. Most of my stuff is in Cumberland county, but I have maybe 5 or 6 in York. I mostly work with investors. Feel free to reach out. I would more then happy to get you started.

thanks
Christian Bors

@Emma Kellenberger  I would not hire an agent.  This will increase the sellers transaction cost which will increase the purchase price.  You should consider a couple things with the negotiation process.  If your parents have been living there for 16 years, it probably has the same flooring, has not been painted and has minimal updates.  If the seller plans to list the property, he would probably have to spend a good bit of money to make it "market ready."  Between  having no agents involved, and the seller not having to spend more money to remodel, you might be able to get  a good deal.  However, you should also consider if your parents move out and you plan on making it a rental you will probably have to spend money to make it rent ready. Good luck!

@Diane O. York city requires a rental license for each unit. The cost is $75 per unit each year. They also hire a 3rd party to perform a rental inspection every other year which is also $75. So if you have a duplex, expect to pay $150 each year and $300 every other year. 

@Chad U. feel free to pm me

I just saw an add on Craigslist for a property in Pottsville. 2 properties for 10,000! Not too familiar with the area but I know it's depressed.

@Katie Stone We bought a house 2 months ago that came with a hot tub.  Not as nice as yours, however I went throw a similar situation.  Tried to sell it but failed.  In the end, we cut it out and trashed it.  I am not dealing with the liability or the headaches.  Our hot tub was in a sun room.  The only venting system was the windows.  Needless to say, there was ceiling damage (drywall and plywood) caused by the humidity.  Not worth the risk, time or effort.  

My advice, take the offer and get it out!

Interested in reading the book.  I have read every BP book so far and they are all very good.  However, I did feel somewhat disappointed.  As someone who has listened from day 1 and heard every podcast at least 3 times, I felt like this was a 1 hour promotion.  Did anyone else think that way?

@Patrick Liska I am not an attorney, but I thought after you own like 3 properties, all escrow accounts need to be linked under the tenants SSN. Any interest from Those accounts will generate a 1099 if it exceeds $10. However, like David said, you can take an admin fee which can typically Off set any interest you would accumulate at this time. I'm not sure how a PM would be able to place everyone's deposits into one account. That sounds like it would be commingling. Unless the bank sets it up as 1 master escrow account with a bunch lf individual tenant linked escrow accounts. Maybe you should call the bank of the PM and ask them what's their procedure is for escrow accounts for landlords.

@Amanda Kuhl feel free to send me a PM