All Forum Posts by: Kaz Iyama

Thank you for your inputs. I like the idea of seeing this as an opportunity. I have contacted the realtor and got answers for those fall-through deals. One time, the buyer's financing did not go through. The other times, the sellers could not find a house to move into in time. I think I am going to find out if this is a deal or not!

I am trying to purchase my first investment property. It is a small single-family home (3bdrm1bath). This property has been on the market for almost 2 years and has been contingent 3 times, but has not been sold. What are the possible issues that people are backing out?

Hi Eric, 

Thank you for your great advice! People in this forum are so knowledgeable and helpful. I will study more and reach out to top posters in the area.  

You are right. It is difficult to get advice if I do not know exactly what I want to invest in. 

I live in south Philadelphia and own a house.  My wife wants to move to a bigger house with a backyard with 4 + bedrooms in Philadelphia. I have 3 kids who need their own rooms. I want to rent out my house and hold it for a very long time for cash flow.

My problem right now is I want to be certain that my house will have a positive cashflow for rental. Otherwise, I need to sell it (I do not want) or increase the rental price to improve cashflow.  But I am not sure how to increase the rental price and what the reasonable expected rental price is. Do you know how to determine the expected rental price?  I feel Zillow rental estimate price is not accurate. I talked to a property management company and they said they would charge. $2,938 a month. I feel it is not accurate because there are many new luxury houses rented out around that price. My house is 11 years old. I don't think it is a good comparison. 

There are so many moving parts to think of such as Tax, PM, maintenance, Property insurance,.etc.

What would be the best way to find out a reasonable rental estimate? If I cannot rent the house, I may need to reconsider buying a new house (potential investment) to live in. 

My house information.

zip code 19146

SF 2200

lot SF 700

Bedroom 4

Bath 2.5

10 yr old 

No tax abatement 

Tax $4600 

Thank you,

Kaz

Hi Sabat,

 I noticed BiggerPockets has so much information. I will dig into it and educate myself so that I can ask better questions in the future. I did not know about Pace Morby's youtube channel.  It has really good advice there. I will check it out. Thank you for your reply. I feel this BiggerPockets created a nice community with people like you that I want to stick around.  

Hello Friends, 

I am new to real estate investing and want to join this community.  I am looking for mentors to navigate this journey to achieve financial freedom.  Could you tell me where to find mentors from who I can borrow their knowledge?  I attended Real Estate Investment Association online. They wanted to sell master courses for more than $20k. I would rather use the money for the downpayment to buy an investment property. It may be worth the training but what I want is building a network and a team to work with.  

Please let me know if you know a local real investment group where I can network in person. Please advise on how to build a team ( lawers, contractors. etc.)

Thank you

Kaz