All Forum Posts by: Charles H.
Charles H. has started 5 posts and replied 31 times.
Post: Central Jersey MTR
- Metuchen, NJ
- Posts 31
- Votes 12
Hi,
I have been a forever student in RE and I live in central Jersey (Middlesex county to be more precise). Trying to make the plunge but working on settling on a strategy. MTR seems is what I found interesting now for this area. Anyone out there that is part of the BP community that has done this strategy or is using this strategy in the area?
I would love to learn about your experience.
Post: 100% Bridge loans for Fix and flip
- Metuchen, NJ
- Posts 31
- Votes 12
@Matthew Crivelli what about Bridge loans for buy and holds.
Post: Importance of the zoning in Philadelphia
- Metuchen, NJ
- Posts 31
- Votes 12
What did you mean by proper zoning?
Post: To Section 8 or Not to Section 8
- Metuchen, NJ
- Posts 31
- Votes 12
Thanks for the info. Its a shame about the PHA. Does your PM company handle all communication with the PHA for your client(s)?
Post: To Section 8 or Not to Section 8
- Metuchen, NJ
- Posts 31
- Votes 12
Originally posted by @Kevin M.:
I am a property manager and we deal with a handful of Section 8 properties. The numbers may look fine but they don't paint the whole picture.
The organization is very difficult to deal with. They are strict about holding property owners accountable but not tenants. They are not responsive through email, hostile toward property owners, and simply inept.
The rent money is not 'guaranteed'. In fact our S8 rent is less reliable than our market properties. If a tenant doesn't permit entry for the inspector- they withhold rent. If PHA finds unreported income for your tenant- they withhold rent. If you properly terminate a lease at the end of the term but the tenant simply stays- the program stops paying rent.
Kevin M.
Thanks for providing your experience with section 8 in Philly. I do have a couple of questions... What class neighborhoods would you say the S8 rentals you were referring to are in? Also, were the tenants screened by your team or were they inherited?
regards,
Charles
Post: Importance of the zoning in Philadelphia
- Metuchen, NJ
- Posts 31
- Votes 12
@Yuriy Skripnichenko always providing very important info. Thanks! Based on your experience, do you see many buyers intending to purchase a SFH with plans to convert into a MFH? Not sure if this is allowed in Philly. If so, are you familiar with the process?
Charles
Post: How Much Appreciation can West Philly see?
- Metuchen, NJ
- Posts 31
- Votes 12
@Dan Powers thanks for the info.
Post: How Much Appreciation can West Philly see?
- Metuchen, NJ
- Posts 31
- Votes 12
@Eddie Shumulinskiy thanks for the added info. Where do you see the best value in Philly for a buy and hold?
Post: How Much Appreciation can West Philly see?
- Metuchen, NJ
- Posts 31
- Votes 12
@Dan Powers thanks for the info.
Post: Section 8: Philadelphia
- Metuchen, NJ
- Posts 31
- Votes 12
@Jennifer Donley how familiar are you with the Philly market?