All Forum Posts by: John Knisely

Try TNT Cleanouts, Delco based but I believe they also work in Philly. They've done work for several of my clients and are solid.

What section of Upper Darby? If its totally turnkey then those numbers might be ok, but I would try to get to a slightly better purchase price to rent ratio.

I'll speak for Media. Great renter population, fierce homeowner competition since the area is so desirable. I househack in Media, definitely an appreciation play for me. If you want to cashflow strong in Media you need to steal the property. Rents are coming up thanks to newer luxury apartments in the borough but generally you'd see a .6-.8% rule happening.

The Seller does not have to lower the price/assist, it opens up a renegotiation period. The mortgage contingency of section 8A as well as the FHA/VA Section of 8 H, I and J allows you to walk, but it does not hold the seller to the negotiated price and seller assist terms.

If you have a specific Appraisal contingency addendum (typically not necessary when the mortgage contingency is Elected or for FHA/VA loans due to 8 H, I and J), my experience is that this will generally override and dictate the outcomes of a low appraisal.

Assuming the seller does not have a better offer waiting, it is likely at this point that they will want to come to an agreement even due to a low appraisal, but you never know. Hope this helps.

@Brandon Ribeiro so purchase and closing costs for 13k total out of pocket (no including required reserves puts you around the following:
With 0% Seller assist - Ballpark 100k purchase price
With full FHA allowable 6% Seller assist - Sky is the limit basically, you'd run into the FHA max loan limit before hitting 13k out of pocket

Keep in mind Philly has higher transfer tax then the surrounding counties, which does eat into your closing costs more.

So Seller assist is really going to be your friend here. Your mortgage broker sounds like he has no clue. You can and should claim rental income while househacking. Message me and I'll connect you with my lender(s).

John White is my go to guy. https://www.homeadvisor.com/rated.JJWhiteMasonryLLC.52008629.html

https://www.habitatmontdelco.org/courses/volunteering-with-habitat-montdelco/

Amara, so you are planning to wholesale your sisters house? Is she ok with that? If she finds out you are upselling it for a large sum, will the relationship be impacted?

Good way to contact the owner is to send them mail or find their mailing address and reach out directly. Sometimes you can even track down phone numbers by googling their name (or using other paid sources). 

@Gregory H. he is just going through the process of vetting them now, so I haven't gotten a ton of feedback on them. Wanted to connect @Chris Webb with him so my teammate could also connect with the folks that recommended Bay to him. No connection to the company for either of us. I prefer not to display opinions that aren't my own on the forum, so Chris, let us know what you find out please!

Ok odd, post removed. Short answer, yes my teammate does. Let me know if I can connect you.