All Forum Posts by: Chris Rosenberg

Lucas, that makes sense. Since I don't really have many assets I plan to purchase in my name and just get enough insurance and an umbrella policy to cover myself until I acquire more properties. Then I will move them into LLCs.

Troy, I looked into Brewerytown also. Seems a bit more expensive and I agree that these neighborhoods I'm interested in do not have many MFHs. I think Point Breeze could prove to be promising though.

Lucas, no problem. I'm actually pleasantly surprised at how many responses I received from this topic. I'm not entirely sure if I will need an attorney for my small deal when I find it. It seems like the agent, title company, and mortgage broker can take care of everything with minimal legal risk for me. Is this true?

Thanks Ben. I spoke to an agent today who agreed that point breeze is an area that is in the beginning stages of changing for the better. She said that is probably the most likely place that I can come close to hitting my numbers and still be in a decent area. I'm going to look into this neighborhood further and maybe take a ride to Philly this weekend.

I also wanted to thank everyone for their responses.

Troy, I spoke to Cherise today. She seems very knowledgable and friendly.

Ben, point breeze is looking interesting. I read that longtime residents were very resistant to gentrification and there was some violence due to this. Is this still the case? Other than that it does seem like the neighborhood is changing for the better. It's location to center city also helps.

I haven't looked into Norristown but I will get some info on it. Are real estate taxes the same there (1.34%)?

Does anyone have any experience investing in the not so great areas for better cap and cash flow? Is it really all that bad? I personally don't mind a not so great area if I can hit my numbers.

I wish I could find something in New York and get an FHA loan but everything is either overpriced or on the decline. Brewery Town is another neighborhood I need to look into. I spoke to another real estate agent today who said its going to be very tough to find what I'm looking for. And there's not too many multis available in the areas I'm looking at. Mostly sfh and some duplexes. I'm not opposed to getting a sfh or duplex though. I may have to expand my target market a bit to find what I'm really looking for which is a small multi at a decent cap.

I'm kinda thinking that maybe the multifamilies are out of my reach right now. Maybe I would be better off getting a sfh to rent out. There is definitely a greater inventory of sfh versus multis in those areas also.

Ben, that new piazza looks promising. I agree with you on 2 BR SFH not being ideal. I'm not too familiar with renting bedrooms out to students though. Seems like there would be more management needed and it would be more of a headache with 8 kids in a duplex.

What's the story with Frankford and Juniata park? Should I not even bother looking into these neighborhoods for cash flow?

Kevin, nice websites.

Ben, is the new piazza across girard considered the neighborhood of Old Kensington?

I read somewhere on this site someone said they only want to rent to medical students. They are never home because they are always at school and if they are home they are studying or sleeping. They never want to rent to a law student bc they will practice on you. Also never a music major bc they will keep everyone up all night. I found that funny and interesting.