All Forum Posts by: Justin Seng

What is your opinion on performing repairs while the tenants aren't home?  My tenants are fine with me being in the house when they are not home but I hesitate sometimes.  I wouldn't want something to happen, that I didn't do, that would give them an opportunity to question if it was me.

ie They lose something and think I stole it....

Poor Dad “Get a good job safe job, with a good company and Climb the ladder.”

Rich Dad “Why not own the ladder.”

- Rich dad poor dad

@Jimmy O'Connor Briarcliffe 

Hey @Jimmy O'Connor I have a 3 bed 1 bath with central air in Delaware county. I BRRRRd it so I expect no CapEx or major maintenance for a while. I would say C + neighborhood. Here are my numbers...

Purchase and Rehab $76K

Appraised $121K

Mortgage $84K

Monthly:

Rent $1300

Mortgage $475

Taxes $330

Insurance $60

Vacancy $100 (Save for 1 month vacancy a year but do not expect it)

Cap Ex $85 (Assume nothing major for at least 5 years)

Maintenance $50

Cash Flow $200

@Zach White I agree with Ned Zach, it’s really up to what your looking to do. Staying mid range like you mentioned is what I prefer.  I have a property in Briarcliffe and one in Ridley.  I see your from Collingdale so you probably know they are about mid range for DELCO.  

@Mary M. check out landlord locks. I use them and love em. 

Thanks @Dave Van Horn I’m definitely interested in coming this year! 

@Brandon Ebeling I just had a house appraised in DELCO and my tax assessment number and taxes did not change. I believe tax assessment and house appraisal stay separate. I did hear however that a whole county tax re assessement is coming. Hopefully someone who knows for sure will reply. 

@Jeremy Frederick If you haven’t found anyone yet call Jeff Chapman at Chapman Tax Services.  He’s the best and works with real estate investors!  chapmanstax.com Been using him for years. 

Thanks everyone for the input!