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All Forum Posts by: Jeremy Fisher

Jeremy Fisher has started 5 posts and replied 42 times.

Post: Getting NJ License in addition to PA

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

Just passed my state (PA) and national salesperson tests last week, still waiting to be officially licensed as my application moves through the state commission.
I'm Interested in getting licensed in NJ as well. Any agents who are licensed in both states remember what course they took get the additional 15 hours of coursework in for the NJ license? Prefer online, open to in-person. Any help is appreciated, thank you!

Jeremy Fisher
joinreal.com/jeremy-fisher

Post: Newbie looking to start first deal

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

@Account Closed 's list of neighborhoods, I would also strongly consider Norris Square (West Kensington), which is just on the opposite side of the El from East Kensington. That's where I'm currently looking for a house hack opportunity. 

Post: Newbie looking to start first deal

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

Hi @Account Closed

For an investment property, you're going to need 15% (at least) down for a single family home, or 25% down for 2-4 unit property. In addition to that, you will also need show 6 months "reserves", which is: 
-6 months of payments for the property you are purchasing AND, 

-6 months of rent/payments for where you are personally living.

I learned this hard way at the end of 2017, and was lucky enough to bring my dad on to co-sign the loan with me in order to buy my first property because I could not show 6 months of reserves. Somehow after listening to a ton of biggerpockets and doing a whole lot of research online, I was unaware of the reserve requirement, which can obviously add up to $5,000-10,000 real quick.

So depending on your finances, some form of house hacking might be the better way to go at first; whether that be buying a multifamily, 3-4 bedroom house with housemates, or a well-planned live-in-flip. I would recommend that latter two, as reasonably priced multifamilies seem tough to come by in Philadelphia. House hacking would enable you to have a lower downpayment %, plus lowers the reserve requirement to 1-2 months. 

Hope that helped your thought process a bit, and good luck!

Hi @Adam Paxton

I just sent you a connection request with a message. Please get in touch if you have any questions!

Post: "Boots on the ground" for the out of state investor in Philly

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

Hey @Mauricio Botero !

I can definitely help you out.
I'm a new investor/(soon-to-be) Realtor in Philly. I have a full-time job that I work afternoons-nights, but I am available about 10am-2pm to potentially visit your properties.

Feel free to get in touch.

Thank you,

Jeremy Fisher

Post: Is Kensington Philly worth buying(Norris Square & York-Dauphin)

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

This is an area that i'm extremely interested in now. Think we might try to live-in-flip in this area come next spring when we're looking to move out of our apartment. 

In my mind, just a matter of time that the recent development in South Kensignton and East Kensington expands, north and west, respectively, into Norris Square. Staying close to the El is also very important for us. 

Post: Refinance Investment Properties

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

@Michael Enriquez Wow, don't see a whole lot of 10 year amortizations. Guessing the mortgage amount isn't super high considering the last sentence of your message?

Ronald Slagle at Univest worked with me to get my initial mortgage and he was great on my rental home. He's informed me that they do cash-out refi's. 

Post: Philadelphia specific lease

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

@Steve Babiak Thanks, I will look into both of those

@John Knisely That would be great. Pm'ed you, thanks

Post: Philadelphia specific lease

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

Hey all! 

I'm in the finishing staging of getting my first rental property ready to list. Trying to get it listed Thursday.

Do any of you have a lease in mind that you found to be particularly useful? I'm really interested in having a lease that is tailored to Philadelphia, but maybe that is unnecessary. At this point I just leaning towards finding a PA specific lease online. I think having an attorney create one for me is most likely out of my price range.

Thanks for your help!

Post: Property Management in Homewood South

Jeremy FisherPosted
  • Realtor
  • Philadelphia, PA
  • Posts 45
  • Votes 29

Hi All,

Doing my due dilligence on a property in Homewood South. Would anyone be able to point me in the right direction for property managers that work in that neighborhood? 

Thank you,

Jeremy

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