All Forum Posts by: Daniel Kent

@Mike McCarthy @John Knight Thanks Mike and John-

It is a townhome so another property is connected on the other side. I wanted to try to avoid running the main pipe through the inside because the inside needed minimal work, and I wanted to avoid going through walls, etc. not sure of anything restrictions about running pipe along chimney runs, or something similar. I will have to find out about code since it will all have to be permitted and inspected. Sounds like outside might be the most cost effective option-

Thanks @Michael Noto - 

I plan on asking the gas company on Monday, but I have attached a picture.  The problem I see is that the driveway goes alongside the house, up to the slab.  So my concern is that the gas company will not be able to run the main line underneath the driveway to get the meter alongside the house, without tearing the driveway up.  Hope this picture helps clarify-

I am looking at a property (SFR) that has oil heat (tank above ground in the back yard). If I got the property, I would want to convert to natural gas. There is a main gas line at the street, but the gas company would need to run a line to the house and install a meter (I already called the gas company and that would only be a few hundred dollars).

My concern is where will the gas company install the meter? I would like them to install it on the side of the house, but there is a driveway there, so I assume they would just install it at the front. The problem is, all of the systems that would use the gas are in the back of the house. If the house had a basement, this would not be a big deal since the gas line could be run through the basement from the front to the back of the house. However, this house is on a concrete slab (no basement). So my concern is that running the line in the house (through the ceiling? Walls? Build a soffit?). The line will have to run passed the living room, passed the kitchen, into the utility room (heater, hw heater, dryer).

What is the best way to run the line through a house on a slab? I am concerned this will greatly increase my rehab so this deal won’t make sense...

Hi @Jay Sechowicz- I completely agree that it is tough in the grays ferry area. I have even seen empty lots going for 100k. Doesn't mean it can't work, but just have to be patient and find the right deal. With the properties I have been analyzing, it seems to be a little more difficult to buy and hold in that area at this point and make the numbers work. Not sure the rents will cash flow with the amount of capital that is required to acquire and rehab the properties in that area. Very interesting to watch. Even though I have been looking in that area, my main focus is South Jersey for a SFR or small MFR that I can rehab and then rent out. I look forward to continuing this conversation-

Looking for information on the rental market in Mount Holly, NJ. What is the tenant pool like? How does Mount Holly Twp deal with rental property investors? Strict on requirements on inspections C/Os, registrations, etc?

Any info/experience is appreciated!

Thanks!

Hi Thomas, and welcome to BP! I will throw in my two-cents here, as I have been looking around Philly area for another investment property as well (right now I have a SFR in Manayunk). I have been looking in the Grays Ferry area, but what I have found is that the neighborhoods really vary block to block and street to street, so definitely drive the areas a lot and get a good feel of the neighborhoods.

My other comment is definitely do not let the RE Agent or banker pressure you, if you are not ready (next summer is a bit away).  If you can find a good lender and agent that understands your goals, they can give you honest advice that will meet your goals, rather than trying to sell you a product to meet his or her goals.  Take a look at the local investor and real estate groups (DIG, HAPCO, SJREIA, etc).  There you will have a great chance of meeting agents and lenders that you can start relationships with,

Best of luck!

@Kristy Stevko Hi Kristy! Welcome to BP, you will love it! There are a bunch of meetups in the area. One coming up this October in South Jersey usually has a good turnout with a great group of investors. If you are free check it out!

https://www.biggerpockets.com/forums/521/topics/755068-south-jersey-meet-up-17-lending-options-and-mold-issues?highlight_post=4438943&page=1#p4438943

@Justin Eaton

Best of luck! I am sure you are going to crush it! I enjoy Jake and Gino’s Wheel Barrow Profits podcast. They were on one of the BP podcasts, but there own podcasts has a ton of multi family investing tips. https://podcasts.apple.com/us/podcast/jake-and-gino-multifamily-real-estate-investing-more/id1025080737

@Antonio Cucciniello I have been searching in South Jersey and also feel that more properties are not deals than are deals. It is tough to resist the itch and buy and bad deal, but definitely be patient! The BP experts say, “every no gets you closer to a yes” so maybe every bad deal gets you one more closer to a good deal. Good luck in your search!

@Alex Smith awesome job! Great to see success like that! Especially in Jersey!