All Forum Posts by: Isadore Nelson

Good afternoon, I've been exploring options to acquire a property for long term rental in the Philidelphia area. 

I have found some options which seemed ideal in sync with the BRRRR method, however from looking on sites like Zillow and Redfin, there just seems to be so many available options, for nice rentals and good rates, so would it even be ideal to buy in the area if it would be so difficult if even possible to find a tenant? What are the chances I'd be stuck with a vacant apartment?

I'd appreciate any insight or leads.

Thank you!

Good afternoon, I've recently been curious about opportunities in the area. I'd love to join a meet-up sometime. 

Quote from @Bruce Lynn:

Yes...some states are what we call tax lien states, some are tax deed states and some states are hybrid.

You can read more about CT tax sales here:  http://cttaxsales.com/
http://cttaxsales.com/wp-content/uploads/2012/10/GENERAL-INF...

Thank you. Is there a different though regarding chances of actually getting the property itself, if the redemption period always exists? It seems like a technician structural different not an inherent one, unless I'm missing something?

I would like to consider acquiring a property at a tax sale, and do not mind waiting out the 6-month redemption period, assuming the chances are high that I will indeed end up with the actual property at the end of the 6-months, if that makes sense?

Good morning, Is there a practical difference between a tax lien sale and a general tax sale? Specifically, is there a statistical difference in the likelihood of actually acquiring the physical property versus simply earning interest on the debt as a financial investment? What does the data show about the chances of ending up with the property itself in a tax sale in Connecticut? Thank you!

*Toledo, Iowa.

Good morning, the following property is up for sale at $250k.  

https://www.zillow.com/homedetails/114-S-Broadway-St-Toledo-... seller has 'described' it as follows:

"The property features a new roof and updated electrical work completed two years ago at a cost of $120,000. It currently has 14 out of 17 units occupied, generating a monthly income of $6,300. Once the remaining 3 units are occupied, the projected monthly gross income will be about $7,800. Insurance on the property costs $437 per month. While the property needs some work, none of it is crucial. The roof is new, and the foundation is in good condition. An estimated full renovation of the apartments would cost around $150,000. The ARV of the property is approximately $450,000."

What do you all think? Do these numbers sound plausible? 

I'd like to consider this deal and would very much appreciate any input!

Thank you.

Good morning, the following property is up for sale at $250k.  

114 S Broadway St, Toledo, IA 52342 | Zillow

The seller has 'described' it as follows:

"The property features a new roof and updated electrical work completed two years ago at a cost of $120,000. It currently has 14 out of 17 units occupied, generating a monthly income of $6,300. Once the remaining 3 units are occupied, the projected monthly gross income will be about $7,800. Insurance on the property costs $437 per month. While the property needs some work, none of it is crucial. The roof is new, and the foundation is in good condition. An estimated full renovation of the apartments would cost around $150,000. The ARV of the property is approximately $450,000."

What do you all think? Do these numbers sound plausible? 

I'd like to consider this deal and would very much appreciate any input!

Thank you.

Quote from @Eric Greenberg:

Quote from @Isadore Nelson:

Quote from @Eric Greenberg:

19134 is a very dynamic zip code. Being east of Aramingo in Port Richmond is an entirely different world than Kensington Ave/the letter streets. 

You can certainly make money anywhere but I would only suggest investing by K&A if you really know what you are doing. If you have never been to this area please go during the day, not night and check it out… or even youtube it before. That might be all you need to know. 

I have been there, and know it is an insane place, but that wouldn't necessarily make it a bad investment, especially with limited resources as a start, no?

It could be. It only matters if thats the type of investment you want to hold and deal with. Have you talked to any PM companies who deal in that area? 

And like I said being east of Aramingo in Port Richmond is an entirely different world. Lots of folks priced put of Fishtown are moving north and Richmond Ave had been slowly bringing in new businesses. 

It's hard to find anything below 120k out there. If I am going to the more affordable area, I'd try to stay within a block of Kensington Ave versus further in, if that makes sense.

I've spoke to some PM's in the area, anything specific you're referring to?

8-months later, have you managed to make any progress? I, too, am exploring options in this area.