All Forum Posts by: Eric Greenberg

To have someone give you helpful advice on where to invest, youll most likely have to provide some more information like what your goals are, are you looking tor a A/B/C/D type property, how much money you are looking to allocate to the buy and rehab, etc. 

I would definitely write up a lease. I dont see you needing an LLC. You would collect $X rent. If you are looking to find tenants I would utilize Facebook marketplace as well as local sublease groups (if their are any). Craigslist is an option but not always the best.

Ocean City NJ, MD? Any details?

You'd have to run it on a case by case basis and see if your numbers work. If it were me Id also factor in some percentage increase per year of the policy to cover yourself in the future. 

Yes. In my experience someone wanting to pay up front is a red flag. Do you have many folks interested or just this person? 

I cant speak to Section 8 specifically but her giving you a fake landlord number is a big red flag. I like to reach out to the landlord they previously lived with instead of their current landlord, as they may lie to you in order to get them out of their property. Landlords in the past have nothing to gain by lying. 

I agree with the above. I dont think you want to deal with the repercussions of owning a $100k 2-4 unit in Philadelphia. 

You have a healthy gross salary, why not up the budget and start with something easier to learn with?

Im not in the STR space but there are a number of new laws/regulations on STRs in Philadelphia. I would read up on them to see if actually a space thats worth pursuing.

https://www.phila.gov/services...

^ agreed. This Facebook group is very helpful for staying up to date on the ever changing landscape of being a RE investor in Philadelphia. 

Congrats on a solid looking condo flip!