All Forum Posts by: Joe Chirdon

Cumberland county is right across the river from Harrisburg, PA. It is the fastest growing county in PA. This may be a good area for you to investigate. 

Cheers!

Plenty of cash flowing properties in Harrisburg. I know because I have owned 2 of them. The quality of the neighborhoods isn't the best (mostly C/-C), and neighborhood quality can drastically  increase and/or decrease over just a few blocks, so make sure you know the area where you're buying. Also, don't expect much appreciation in Harrisburg.

If you could find a good deal on a multi just outside of Harrisburg, like in Paxton or Susquehanna township, or just across the river in Lemoyne, the quality of neighborhood/tenant gets much better on average. Unfortunately, you'll pay significantly more. 

Best of Luck!

Gary, 

I bought a 3-unit in Harrisburg two years ago. The 2 tenants are both long-term, and my wife and I live in the 3rd unit. It's great so far. Their rents pay off our mortgage and cover the utilities, so my wife and I basically live for free. 

My advice to you: Listen to as many bigger pockets podcasts as you can, stay away from REALLY rough neighborhoods, and don't over pay!

Good Luck!

-Joe

@Chris K. and @Stanley Bronstein, thanks for the advice guys!!!

I tried calling the PA Real Estate Commission. They were no help. 

Chris, I'm going for my salesperson (I actually just passed the test Friday) as opposed to my broker license because 100% of my legal experience has been in Medical Malpractice and personal injury.  Although I have invested in real estate, I didn't feel comfortable trying to be a broker straight away. Maybe after a year or so I'll reconsider. 

Cheers!

In my experience, judges seem hold a landlord to a higher standard than a tenant, even if you're making a good faith effort. I can't say for sure whether the judge will side with the tenant because it was 33 days and not 30 days. 

If you can print out a dated text/email showing that you gave the tenant notice within 30 days and followed it up with a written list, that may help.

The average judge will not go easy on you if you don't follow the state/local laws for notice.

https://statelaws.findlaw.com/pennsylvania-law/pen...

"The landlord must return the security deposit within 30 days of the tenant moving out. If the landlord keeps any of the security deposit, he or she must provide the tenant with a written list of damages and the remaining balance within the same 30 day time period."

Not legal advice, but it might not hurt to send a certified follow-up letter memorializing the notice you already gave them with copies of the receipts evidencing what repairs you had to do.  

Good luck!

Hello, 

I am a licensed PA attorney, and I am also getting my real estate salesperson license shortly. Attorneys often require agents to sell property for clients, especially in estate and bankruptcy law. So my question is:

As an attorney and real estate agent, could I offer attorneys a split of commission  in return for them referring me listings/clients?

I should get to the bottom of this on my own, but I do not currently have access to any quality legal databases.

Thanks,

Joe

Take your time in this market. Prices are high, and one of the most important rules in RE investing is to avoid over-paying. 

Inversely, lots of new investors gravitate to C and D neighborhoods, because the profits look better on paper.  Try to avoid that. They're usually a headache. I'd recommend looking for 1.25 - 2% deals in B neighborhoods to start. 

Good luck!

Welcome to BP. Best of luck! Pay close attention to not over-paying. Things are getting pricey right now. 

Their are plenty of investors/lenders at local RE meetups. If you find a great deal and then ask around, you should be able to find the financing. Although, the interest rate/points might be high...