All Forum Posts by: Jason Giomboni

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

2 unit in Scranton

I'm a local agent and investor.    I can help you with everything.   Message me if you wish to discuss the area. 

@Jesse Hodges I’m an agent in the area and work with a lot of investors. You can get some great cash flow here. I would stay out of Scranton with the regulations and high taxes but the surrounding areas are solid. I invest more towards Wilkes-Barre. Hit me up if you have any questions.

Hey Denise, I'm a local investor and agent in NEPA.   Give me a call or message me if you want to discuss.   There is a market for under 30k homes.   It all depends on the area and hassle factor your looking to put up with.   You also have to be aware of property managers.   Some times they are not likely to take these on as their hassle factor goes way up and the rent is not high to justify the hassle.

No luck so far.   Thanks for the advice.  I will let you know if anything works out.

Hello all,

I'm a new investor living in the Wilkes-Barre/Scranton, PA area.

I'm looking for a good CPA, attorney and wholesaler in the area.

Any recommendations would greatly be appreciated!

Thanks in advance for your responses.

Jason

To each their own but I would rather those 30 years of rental payments financing my investments and not the banks.

I don't understand the logic on having tenants pay it down:

If I pay for a 100k house with cash the cost of the house is 100k (for example)

If I get a 30 yr fixed rate 4% on 100k house and have the tenants pay it down I would pay 172k for that same house.

Am I missing something cuz I would rather keep the 72k.

I think the difference would be between properties bought and properties owned.  100% of foreclosures occur on properties with a mortgage.   Like I said my snowball rolls very slow to start but will speed up as it grows.

I think this is exactly the opposite of my plan and long term will have similar results with more risk.  Your years 2 thru 4 have more risk than mine but more properties.   If any issues DeRoest mentioned come true than my plan works better if you come out unscathed than your plan works better.

I think the Ramsey vs Kiyosaki debate comes down to risk vs risk aversion and how comfortable the investor is with the associated risk.