All Forum Posts by: Matthew Niemynski

For the attorney - Gavan Criscuoli Lenar Law Group, right off of 517 close to Mattars Bistro. They helped with my Grandma's property in Panther Valley after she passed. Highly recommend them. 

Hey Jesse! It is totally true that an area/neighborhood changes block by block, so its important that you take a look at these areas either through google street view or with your own eyes. There are some good articles you can find where developers and companies are building like crazy in Philly.. (Brewerytown), in my opinion that could be a great opportunity to get into. Quick commute to employment and transportation is very important for tenants. Try to get in where you fit in. Many of my investors love South and West Philly since its becoming so gentrified. I source a lot of off-market properties for them there.  

I personally live in South Philly (Grays Ferry) and I have no issues. Would love to chat more! Lets connect

Hey Jillian! Not sure if you tried this yet.. if you go to the Network tab here in BP you can find some mortgage brokers that you can connect with. Some of them may be able to help you out. I will keep my eyes open for that 80% LTV, a lot of the lenders I work with do 75% LTV. Good Luck!

Do you have proof of rent from the current owner? If not, I would ask if the owner can supply that for you. I agree with Taylor, if the tenants are making payments and stable it may be worth keeping them and increasing rent gradually. I would leave that conversation to after closing. You don't want any bad blood with a tenant before you become the owner. At the end of the day, what matters to you more - market rent? or no vacancy? Good Luck!

Hey Anthony, you came to the right place! Would love to chat further about your project. We have similar goals to hoard cash and pursue a small multifamily to house hack. This platform has helped me gain a tremendous amount of knowledge and connections, now its all about action! Currently, I source off-market deals for my investor network. Being in the space really helped me understand a "good deal" and how powerful REI is.... Look forward to connecting! Best of luck on your project!

Congrats on your first Property! Many more to come. You can almost guarantee that you will have to touch up on paint and trim pretty much after every tenant. Personally, stocking up may be a benefit especially if you can get a discount. High quality paint will last longer/look nicer and I totally agree with Bruce that you get what you pay for. Really depends on your budget and what you are willing to spend. Good Luck!

Hey Cameron, Would love to connect. I collaborate with a ton of new investors even though it seems you have some experience under your belt! I have made a ton of connections with investors, agent, contractors, and management companies in my short time here in Philly. Lets connect! 

Philadelphia can be an amazing market if you play your cards right. First, I would figure out what your goals and strategy you are looking to implement. Next, do some general research on what areas fit your strategy (buy and hold, fix/flip, multifamily.) My investors, especially in this market, are looking for CASH FLOW and APPRECIATION. I help them find that. Let me know and we can chat more.

I believe a 30 Day notice prior to construction is acceptable and professional. I would disclose what work is being done, how long it will take, what hours of the day the contractors will be doing the work, and assure them that the rehab will not affect their safety/day to day. If they have any questions they can contact you directly. However, since there is rehab being done, it does not warrant a discount on rent. Stay firm on your price. 

I believe your tenants would also appreciate you sending them a message that heavy/loud work is being done on x date/time so there is no surprises. The more upfront you are in the beginning will save you a lot of headaches and stress later on. 

Good Luck!

You can find Agents on all social media platforms. If you are on FB, try joining some STR groups in the locations you are interested in jumping into. However, I will warn you that you will have to vet/qualify each person you talk to. Look them up on google, look at their reviews etc.

My recommendation is learn as much as you can about the rules and regulations regarding STR in the townships and HOA's you want to buy in. Not knowing this information could be a very costly mistake and you should not have to rely on someone else to give you that info. An agent that knows their contracts and knows how to protect their buyer and their money will always be better than an agent who is an STR expert, in my opinion.