All Forum Posts by: Jason B.

Forgot the key words. Philadelphia, Pennsylvania, PA

I have an opportunity to buy in Brewery town. This would be for a rental so a buy and hold. I do not know much about the different parts of the city and hoping someone can help. Is this a good area for buy and hold? I do not have details of the home yet but I do know it is a 4/1 and either on or right off of 29th St. Any feedback in regards to this would be of big help.

I want to start acquiring rental properties. I'm interested in learning more about the financing options. I live in the northeast where properties are not cheap. A typical loan for an investment property is going to require 20-25% down. 

Are there other options that require a smaller percentage down? If I understand FHA loans right they must be owner occupied.

 Thanks Brendon. I have not done any fix and flips. Its on my radar to learn how to. Once I get into doing this maybe I'll give you a call for a better understanding of the S-Corp and how you can help me save taxes. 

 Hey Jim P:

Thanks for the reply. I'm open to any recommendations you may have. Please feel free to pas along any info you feel comfortable sharing. By the way if you or anyone else makes a recommendation and I work wit that person in the end, I won't forget you and would want to compensate you one way or another either via shared knowledge, a partnered deal, shared contacts, etc..  Thanks!

 Hey Brandon Hall,

Thanks for the reply. The first guy I mentioned I tried working with used an LLC for his businesses. I am wanting to do very similar transactions and it seemed to make the most sense to go with an LLC. I know there are several different corporations and entities I can setup and am open to any info you may have and why one may be more suitable for me over another. I actually thinking I may use my current LLC as my marketing name and create a separate entity for my transactions. If you have some advice I would love to chat and see if we can offer some benefit to one another.

Hello fellow investors,

My intention with this post is not to find someone to offer all of their expertise for nothing in return. It's actually just the opposite. I'm hoping to develop a mutually beneficial relationship in which we are both successful.

I'm located in PA just north of Philadelphia. A local or semi-local mentor would be ideal but I'm open to someone not so local as well. As you may have guessed I'm new to the real estate investing world. For the past 8-9 months or so I've been reading and learning all that I can. I even closed on 1 lease option deal. Made myself a cool $5K doing so! 

I'm slowly developing a passion for this business. With that being said I'm looking for an experienced investor who is willing to share their knowledge, time, and experience to help fast track me into the world of real estate investing in return for something of equal value in their eyes. I thought I found someone willing to work with but quickly found out they were so busy with their business that they didn't have time to work with me. They never answered their phone and returned calls several days later, if at all. By the way this person was not a BP member. My real estate investing interests are broad. I'm interested in lease option, rehab, wholesale, and building a rental portfolio.

I'm looking for someone who has their business up and running like a well oiled machine. Someone who is willing to dedicate some time and be a coach. This is not a SFN (something for nothing) type of deal. I'm willing to discuss how we can be of benefit to one another. We could partner on deals, I could work in your business, trade knowledge of other topics, or some other professional barter form. I have over 12yrs experience in the fitness industry and can help most anyone looking to better their health, diets, workouts, etc. I also have a small glass etching hobby. You can view some of my work at jbarberdesigns.com.  

I've worked in sales for over 15yrs. I'm not shy to call random people, knock on strangers doors, filter through sheriff sale lists, spend my entire evenings and weekends dedicating my time to this, or any of the other work most people are scared to or won't do. I'm a fast learner and a complete sponge on the real estate investing topic. 

I have an established LLC, business cards, a moderate marketing plan, we buy houses signs, general understanding of most investing strategies, and a ton of drive! Whether you're a long time seasoned investor looking to pass on and create a legacy or simply a novas looking to partner on deals or barter for knowledge or work please feel free to reach out to me. I'm very flexible and open to all offers to build a win-win business in which we are both successful and benefit from.

thanks Drew. My parents did this on their home and it worked. Saved them a few thousand a year.

the lot is large. The duplex sits on 1 acre if land which is increasing the taxes. It's also in a flood plain which makes no sense because there isn't a stream or lake for miles.

Thanks Richard. I simplified this and here is what I come up with. Can you confirm?

200K buying price with a 20% down @ 5%

Finance price of $160K ( I used round numbers for the example, I know I didn't factor closing cost)

P/I = $859 monthly,  $10,308 annually

Expenses = $775 monthly,  $9297 annually

Gross income = $1,675 monthly,  $20,100 annually

Total monthly income = $1,675  Total monthly expenses = $1,634

Total NOI = $41/month

$41 is hardly worth my initial $40,000 upfront investment or the monthly chores of being a landlord. At $41/month profit it would take me 81 years just to recoup my down payment. PASS!