All Forum Posts by: Jewel B.

Are you suggesting then that I attempt to remodel/upgrade WITH the current tenant in place? Or that I simply wait for them to leave? I've heard of tenants staying decades in one place, and if they've already been there several years, that makes me think it will go that direction. 

Hello. Thank you for taking the time to reply. What do you mean by "update for free"?

Hello there,

I am currently in the process of acquiring my first property, a rental property. My goal (3 options in descending order) is to acquire a local 2-4 unit to house hack, a 2-4 unit outside my desired living area, or a SFR.

I'm looking first and foremost at properties needing TLC/fixer uppers/BRRRR eligible. 0. I want to get a deal to reduce cash outlay and increase cash flow 1. I want to force appreciation 2. I want to raise/charge a solid rent to increase cash flow and get with the times (for example, I spoke with one landlord who never raised his tenants rent in almost 3 decades...WAY below market rate, costing him 10s of thousands of dollars in lost earnings, not to mention he trashed the place) 3. For my own personal satisfaction, I would like updated properties to rent out, not old ugly ones (plus it will help when it's time to sell one day) ;)

Regardless, but especially in the case of properties with below average rent or that are outdated, I'm wondering what to make of these situations:

1. Unoccupied/vacant (seems ideal for fixer uppers/BRRRR)

2. Tenant occupied (one or more units) (seems more "hopeful" for an outdated property you want to fix up as they may leave when their existing lease ends) (also provides income towards the loan I believe)

3. Long term tenant occupied (seems very inconvenient/problematic for an outdated property you want to fix up)

All in all, I'm thinking that if I want to BRRRR, unoccupied is best, occupied is okay/has potential, and long term occupied is not good. I'm not sure what options are for eviction in PA and as of 6/16/2021, but I would like to avoid that (especially with long term tenants #guilt), first and foremost because I'll feel bad, but secondly because it sounds messy.

What occupancy status do YOU prefer for

A) Rentals in general

B) Updated rentals

C) Outdated rentals (you want to rehab/BRRRR)

Any other related comments or advice on this topic?

Do I just need to take a tough pill and consider units with long term tenants that would need to be evicted in order to BRRRR?

I very well may after I get started! I'm native to State College and certainly passed through Harrisburg plenty. I'll definitely be considering investing in Central PA (or whatever that's considered) after I get comfortable investing locally.

Thank you! I look forward to posting an update when I purchase my first property.

 Thank you! I will definitely keep everyone updated on my progress.

Hello all,

My name is Jewel, and I'm new to real estate. I have neither personal nor investment properties. I have been getting progressively more into real estate the past few months, and I am now quite focused on acquiring my first property. I've listened to podcasts, read articles, analyzed deals, read books, etc. 

My current mission is prequalification and finding and contacting members of my "team."

I am located in Eastern PA, USA, in the Lehigh Valley/ABE.

My goals are to become financially free and independent and to build passive income, diversify my portfolio, retire early, and travel. My goal is to acquire my first property ASAP (2-4 units) and acquire another 4-6 in 2022.

I joined BiggerPockets because it offers a wealth of information and resources, and knowledge is the power to make a decision.

I am open to connecting with anyone, especially other local or neighboring state-resident female investors.

Hello,

I am currently working towards acquiring my first rental property, in the Lehigh Valley / Allentown-Bethlehem-Easton and surrounding (an hour or so North, West, and South) areas.

I'm looking for referrals/recommendations on

1. Real estate attorneys experienced with landlords/tenants

2. CPAs experienced with real estate investors

3. Property managers

4. Any other professionals (contractors, inspectors, etc) you had a great experience with

Thank you!

Hello,

I am currently working towards acquiring my first rental property, in the Lehigh Valley / Allentown-Bethlehem-Easton and surrounding (an hour or so North, West, and South) areas.

I'm looking for referrals/recommendations on

1. Real estate attorneys experienced with landlords/tenants

2. CPAs experienced with real estate investors

3. Property managers

4. Any other professionals (contractors, inspectors, etc) you had a great experience with

Thank you!