All Forum Posts by: David Ribardo

@Sheryl Sitman Hey, good to see you, I hope you guys have been continuing to get some great deals!

@Derek Askew Try running your comps search with a little bigger radius. In the urban areas .25 miles will give you many more results. I've had lenders use comps that were half to a full mile away to justify their appraisals as well. As Sheryl was saying, it's getting pretty competitive here. The market here continues to attract investors from out of state. Compared to NY/NJ, our cap rates are attractive and thus the prices have continued to climb.

@Michael Martorella I have found some decent ROI in NJ, but ultimately have decided to get rid of my holdings in NJ. Trenton has some pretty good deals where the purchase price to rent ratio offsets the higher taxes, and I have a few investors that are buying in the Phillipsburg NJ and Newark areas. For me, the complexity of having a fourth state tax return, the hassles of NJ landlord / tenant laws, and strong team I have to work with on the PA side of the river have brought me in that direction.

Thanks for the shout out Randy! 

Thanks for the shout out @Dave Lin! 

Overall, Lehigh University is a hot commodity out there. Tons of great opportunities on the south side of Bethlehem, but just like after a recent super bowl win, everyone jumps on the bandwagon. Things are getting pretty hot there and it's taking a little more hustle to get deals. The numbers change drastically when you compare a market rental to a student housing property. Student housing is renting for $500-700 per bedroom per month, depending on proximity to the university, if you have to walk up the hill, and overall renovation level. Overall the ROI depends on how much you get as a value add opportunity. Most good student housing deals are getting at least 3-4% cash on cash more than their market counterparts.

@Eli Schwarz It's a great transition for most people. The landlord tenant laws, taxes, and economic drivers make for a easy switch!

@Marc Nespoli you can find this under Marketplace - Real Estate Listings

I use Omar from Trident Mortgage for low dollar loans. He's pretty easy to work with and my go-to for a local lender for small loan amounts. Shoot me a message and I can put you in touch.

@Michael Fucillo my clients utilize SlateHouse, KPMM, Lot 74 PM, and I've just gotten a heads up that Nick Spade has been doing good work as well. I'd be happy to talk more about the pros and cons my clients have shared with me and help you chose the right one, let me know!

@Raquel Rieckehoff there are lots of handymen, but not many reliable ones. I'll shoot you a message with some recommendations.

@Joo Yoon Check out Sobrinski painting. They have done some good work before. 

http://www.sobrinskipainting.com/