All Forum Posts by: Eric Greenberg

Rich has lots of experience, I would defer to his input. I will add since you’ve done flips lately you should have a solid idea of how much materials cost and rough time associated with each task. Use that along with asking GCs to ballpark what you think itll cost as a 2nd check. 

Hi Kaz,

Id first start by figuring out what you want to invest in (easier said than done), then finding a mentor(s) who specialize in that sector. 

Id also go on FB, meetup, BP and search for real estate meetups by you. Also in BP/FB look in your local forum to see who the top posters are and reach out to them. 

 Hi Jennifer, 

Id reach out to @Yuriy Skripnichenko

You may want to start a new topic to get input on this. My understanding is your unit has to be completed by the end of the year to utilize a cost segregation for the year 2022 (which will be beneficial due to the laws starting in 2023) rather than having the cost segregation completed by the end of the year. 

You may be overthinking it a bit. Not that there’s anything wrong with going to see 100 houses before making a decision, and Im sure that would make you a more intelligent buyer in that specific area, but realize thats also alot of time spent that could be utilized in a more efficient way. 

First thing I would do is map out what areas are in a 30min radius of your work. Make sure to look at that during commuting hours as the drive time will change drastically. There are some great/‘safe’ areas north & east of that area that could fit what you are looking for. 

Then start to determine what you want in a property. Do you want turn-key? Something to do a small or large reno to force appreciation? Anything you absolutely dont want?

Next see what homes in those areas rent for since the goal is to move and keep it as a long term buy/hold. Id also reach out to a few PMs to make sure they will service the area when you move and theyll have great rental info as well. 

I dont think it worth spending too much time on trying to time the market. If the goal is to buy to eventually rent then just make sure your numbers work.

Hi Jason,

You will need

- Commercial Activity License / BIRT
- Complete a lead safety inspection and upload once results are in and satisfactory 
-U&O

- Up to date deed with your name (I assume your deed shows your name on the property already as it was your primary)

- Make sure there are no open violations on atlas

-Then you will have to have them review and you should have them sign all the paperwork like ‘Partners for good housing’ (there is a new version for 2022)/lead saftey/etc.

Happy to talk in more details and more information below:
https://www.phila.gov/services...

And older but great post: 
https://www.biggerpockets.com/...

Like other have said really pin point how much time you have/want to spend in real estate. That will help you decide which path is right for you. There are some amazing opportunities in Philly and in AC (from what Ive heard from a number of folks). Just be realistic with the time you have available and then start learning as much as you can via forums/podcasts/folks on here or in person about that specific niche in that area. 

Happy to talk more about Philadelphia via DM if youd like. 

 Awesome to hear! What area of the city is this in? 

I feel the same way with a few rehabs where I wish I would have done a little bit more to dial everything in rather than pinching pennies during the rehab process. 

Im happy to talk via DM in more detail but unless you really understand areas in Philadelphia, Im not sure I would suggest buying a $100k or less property. There are plenty to be found and you can make good money, but you really need to understand the market, clientele, and potential headaches that you and/or your PM may deal with. 

I have a few August locks and enjoy them. You can also add others to the app but its sometimes a bit bulky. Also realize that you need reliable wifi.