All Forum Posts by: Jon Graboyes

...are you reinvesting gains from another investment to utilize the opportunity zone? 

How did you find the property? 

Following 

Currently have 2 very qualified tenants renting my Cobbs Creek Duplex. Had a ton of demand @ $900 p/mo - 2BR. I could likely squeeze a few hundred more p/mo, but I'm happy to have great tenants at a friendly rate. Would like to pick up another duplex here. However, finding the right block is important. 

Are the baseboards electric heat? 

Renovation looks super clean and appropriate for the market.  Floor is absolutely beautiful. Did you get a lot of interest from qualified applicants? 

I’m in contract to buy a property that has a new 2019 tax assessed value above purchase price. Looks like March 31, 2018 was the deadline for 2019 appeals with the city of Philadelphia. Anyone know if a new owner can file an appeal immediately after closing or would I have to wait to appeal the 2020 assessment? 

Also, any updates or advice from those in the process of an appeal? 

Interesting article for any new construction owners with a 10 year tax abatement who received significant land value increase: https://whyy.org/articles/recent-court-ruling-opens-door-homeowners-appeal-tax-bill/

Best of Luck! Are you using fha funds for renovating the commercial space? I was considering a mixed use property in philly for fha 203k, and was told by both the fha consultant and lender that the commercial space could not be renovated with this product. However, the commercial space could be renovated as a new residential space. I can share contact info for a few contractors I spoke with about doing fha 203k, but I can’t recommend anyone firsthand that I’ve worked with. Message me if you’d like a few names. And, would this be a primary residence for you? Fairly certain fha 203k has owner occupied requirement. 

@Wesley Mitchell would love to hear any West Philly market insights you have. I bought my first property near 54th and Walnut, and feel good about the area's long term opportunity. 

I have had a few really good conversations with Onyx. Ultimately, I decided to self manage for the learning experience and cost savings. Onyx was referred to me by another BP user who works with them on their Norristown rental property.