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All Forum Posts by: Gareth Fisher

Gareth Fisher has started 15 posts and replied 129 times.

Post: collecting data for home building

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

I'm currently researching real estate markets.  Outside of the north east.  My long term strategy is custom home building.  What indicators or data would you be most interested in.   For example, I would expect the data one would be collecting would be much different for a buy and holds strategy vs building.    Building to me seems to be a little more complex.    I was thinking days on market, cost to build, local zoning regulations, land affordability all make a market attractive.

You will have a hard time borrowing that doesn't mean, you can't partner with an investor.  U do the work, he funds it.  U split the proceeds.  Alot of guys are happy to do it, because of the large return it offers for the Investor.

Post: Advice on apartment/hotels

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

My point was just because we are paying a little more for properties then we were 3 or 4 years ago doesn't mean there isn't value.  It's a sign of health and a good economy.  You said there are no deals in the Philly area...that just isn't true.

Post: Baltimore Deal Analysis Practice/Questions

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

I personally feel it's more important to provide affordable housing.  Section 8 doesn't solve a whole lot imo.  If it's an area you don't feel comfortable working in, socializing in or just being there period...why would you invest there?  Get out there start looking at properties.  Find one that you like,  they look a lot different in person.  Find a neighborhood you want to see grow, and find a tenant you want work with. If your self managing a property your expenses should be less then 50 percent.  If your doing the repairs yourself these also will be less.  You will make and lose the most money on your purchase price. Just like any other real estate deal.  A good agent should help guide u through some of the local markets. A good agent is worth there weight in gold.

Post: 17 Year Old From Maryland

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

Work work work.  Get a job at a local remodeling outfit work and learn. Once your a good mechanic investors will work with you.

Post: how to gauge rental market

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

Find a good agent that knows your local market

Be patient, keep looking maybe expand your search radius.

Post: Advice on apartment/hotels

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

Prices are across the board, so are rents.  Are you sure your estimating your rental income properly?
Im pretty confident you should be able to find opportunity back here in PA or down there.  Just takes patience.

Post: Philadelphia

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

Have fun guys, I'll stay out here in the burbs, where corruption and taxes are at a minimum.

Imo your much better off focusing on smaller markets outside of the city.
 
For example Lancaster has long had the most stable and conservative economy.  If your looking for long term investments.  Philly had a lot of growth pre 08 and once again is resuming growth.  However outside of the med students doctors and lawyers there is a lack of good blue collar jobs, corruption is rampant, miles and miles of poverty.  Outside of the trades there is very little good work.

Bucks,westchester and Lancaster all have much better employment rates,median incomes and lower vacancies.  Of course I'm from these areas so maybe I'm biased.

Post: Is this plan a good one?

Gareth FisherPosted
  • Manheim, PA
  • Posts 131
  • Votes 138

Do an FHA 203k pay yourself to do the work and your holding costs will pay the mortgage. So you won't have any mortgage to pay. However I would advise living on site is super stressful and would avoid it if possible. Investors are more for higher risk higher returns or all cash deals. When possible use the bank they will be cheaper. Yes this model is very feasible, if planned with care. Start looking at properties now it will take a while to learn your local markets, a good agent should be able to guide u.