All Forum Posts by: Account Closed

Welcome Mark! I'm new to this realm as well. I started broad but it can be a bit overwhelming because there are so many rabbit holes to go down. If you already know you want to focus on rentals then start there. There are plenty of different places to go within that niche (SFR, small/large MFR, etc) and plenty to learn. Good luck.

We had some termite trails during inspection of our primary home. Since the inspector is not a pest expert they just cover themselves and say 'there's evidence of termites'. To get a pro out was about $1100 and we have 5000 sq ft. No tenting required. And you would know if there was significant damage because wood would turn to saw dust at the touch.

I'm looking for a contractor in the greater Philadelphia suburbs to look at an off-market property in Norristown with me to estimate/bid on the rehab. I'm currently reading J Scott's book on estimating but with no experience I'm still in the dark a bit. I'm hoping to start the new year with my first deal and want the numbers to be accurate. Any help or push in the right direction is appreciated.

I'm new too and went Pro after about a month. It's a small investment and worth it if you're serious. I think the calculators alone are worth it. Plus you have access to all the archived webinars which are a great resource too. Welcome!

 It was nice to get out from behind my computer and meet people in the area doing what I want to do. I'm definitely looking forward to the next meeting. They also had a guest speaker to give a general tax overview for investors which was insightful.

@Nina Ricci welcome! If you download the Meetup app there are plenty of Philly based groups. I found a bunch on there and just attended my first meetup last night! It's a step in the right direction.

@Jenny Bayless to go off on a tangent... How do you approach updates with tenants in place? A furnace clean is easy but all new windows can be an inconvenience for them. How do you approach getting the work done?

I've actually read in threads here where people have called previous landlords asking if they had a vacancy. That way if they have no idea what you're talking about you can assume the applicant gave you a friend's name to pose as their landlord. It sounds crazy but tough tenant screening is well worth the extra time up front.

@Thaddeus Ramirez I don't know if you have Peco in Lancaster since you're not too far from me. They do the energy audits. Right now I think they're $50 but they also give you LED bulbs and good suggestions if you decide to help with some upgrades. If the bill's in her name it's not really your problem.

In terms of a rental contract, every state is different with LL/Tenant laws. It's always best to reach out to a local RE attorney for guidance.