All Forum Posts by: Ian Godfrey

Those are great numbers. I also have gotten good returns in PA.

Right now my duplex is generating $1,000 per month and fully rented.

I manage it myself and my maintenance guy takes care of issues if and when they come up.

New Castle, PA is good place if anyone wanted to look in that area. https://m.estately.com/listings/info/410-410-5-e-division--1

Hey @Roman S. Lets connect. Cashflow is the key, espcially when you can get more of it!! 

Ian G. 

Hi Sharon, you are in a great position. With all that is going on and will continue to develop in the area, I would say "leverage" is your friend right now.

Don't sell it right now. Rent it for a premium and draw the cash flow. I would even do 6 or 12 month rentals to give yourself room to reevaluated the market and increase the rent.

I would then draw on the HELOC which your tenant will cover from your premium rent.

I would use the HELOC as leverage as a down payment to a large multi-unit. Now you have multiple streams of income and your condo appreciating while the tenant pays and the area develops.

But don't sell, you will do yourself a disservice! 

Ian G. 

Calling all investors, here is a completely turn key side by side duplex. Both units are separate utilities. Recently painted and freshened up with tenant change over. Some new carpet. Each unit is identical floor plan with 2 bedrooms and full bath upstairs. Living, dining & kitchen downstairs. Full basement on each with one recently replaced furnace. Some updated wiring, plumbing, new gas line to unit and new hot water tank. Fenced backyard great for kids or pets. Zoning & Rental certificate approved. One side recently rented with property manager in place! 

Income Property in New Castle, PA

Hey Greg, remember your ultimate goal of the application is to screen your applicants and fill the unit with the best qualified applicant. With that said, and assuming you spoke to the prior landlord/owner and got a feel for the current tenants, why would you want to run them through the ringer separately?

I would use the one form as long as you can get the information you need from both of them to adequately check their, finances, credit and criminal background. 

Going forward however, once you move out of the other side and decide to rent it, I would employ the practice of using two separate apps for each adult desiring to rent the unit. 

I will caution you with this last thought, start thinking about if or when one of the adults in the current occupied unit move out. I would have a new app and lease agreement ready for the remaining adult so you at least you have one person you can hold accountable or go after should something happen.

Just my thoughts bud. :-)

Ian G. 

Think a little Different and think Outside the Box. WEALTH is Built over time, NOT overnight!

 Great fixed up multi-family investment property with fresh paint, new flooring, 

new water heater in one unit, cleaned and ready for long-term tenants in this hot rental buy and hold market. This property has a large kitchen, dining room and living room on the main level. The property also has a large yard, shed in the back and newer roof. Hurry this one won't last.
This property will rent for $550 per side,
$1,100 per month and $13,200 per year.

https://www.godfreyestatesllc.com/

I will have to check out Premier Property Management. I have been looking for property management companies for some of my buyers.  If anyone finds a company or two that manages properties in New Castle please share. I also found that a lot of these companies straight out just won't call back. I love turn-key properties that are already rented and management in place. - Ian G. 

Hi Christy Browning, you are already ahead off the game and 1-up on many others who are still reading books, watching videos, listing to podcast and stuck in learning mode with NO ACTION!

I just finished one half of a duplex we have and rented it in just a few weeks. The other half of the duplex just need finishing touches and it will be ready to be rented.

Multi-family units are a great way to go, I know everyone have numbers to abide by, rules to follow and strategies to use however, just as each property and areas are different, so are the investors and their individual goals. 

I use common sense, if the purchase and expenses of the property won't put me in debt, then I trust my gut and go with it. Don't get stuck in analysis paralysis, don't over think it.

Just be flexible and do what you have to do to make it work. You may not have the know-how, funds or experience right now, but jump in and you will see how everything start coming together as you are pulled beyond where you are to do more than you think you can do.

Most importantly, have fund, make money, memories and meaningful relationships that you can take along your journey.

-Ian Godfrey

My company pays properties in this price range. We typically put $4,000-$6000 into them and then rent them out. The key is having a great team to support your goal and strategy 

Hi @Emilio Basa how are you buddy? 

Are you a cash buyer and are able to close fast?