All Forum Posts by: Matt Roberts

I recently had the curb trap replaced at my rental in Port Richmond. The plumber told me he was finished so I pay him for the job. I then come to realize he didn’t connect the inside drain properly. Now I’m getting water in the basement and I can’t get a hold of the plumber. Now I’m trying to find someone trustworthy to start again but I don’t know who I can trust.

I have two questions. They all seem to want 1/2 down to do the job. Is that appropriate? And can anyone recommend someone who is trustworthy who can do the job, who will have it inspected, and not take my money without showing up?

I just finished a rehab on a duplex that is in an LLC when the covid-19 crisis happened. The mortgage broker that I normally use is telling me that it's impossible to refi an investment property right now. Does anyone know of a bank that would do a 30 year mortgage or even a 5/1 ARM right now? I am willing to take the property out of the LLC and put it in my name.

I will check it out Busey. It looks like there are banks around that will do it. I'm considering the commercial option. Some people say it's good to go commercial right from the beginning. Can anyone speak on the pros and cons? Obviously the rates will not be stellar but there must be some benefits to doing this. Thoughts??

Very good input. Thank you all!

I worked with Jerry in the past but it seems that he left MB Financial. I will contact them anyway. Thanks for the advice. 

I have a property that is worth 60k that I would like to finance through a local bank. Univest claims that the mortgage amount is too small for them. Can anyone recommend a bank that would be able to finance such a small amount?

Thank you!

Does anyone know a property manager in Philadelphia who will manage a vacation rental? 

Does anyone know what a one bedroom apartment in the rougher part of Germantown would go for?

Hello BP community,

I am thinking about buying a triplex short sale in Germantown (the rougher part) in Philadelphia but I don't have much experience there. Is there anyone who is familiar with the area who can help me? Here are my numbers:

4/3 1702 sq ft

2 one bedrooms rent for $650 each

1 one bedroom rents for $850

purchase price 90k

rehab 40k

ARV 185k

Cash Flow $657/month including prop management

Thanks for your help!

Hello, I was offered a kind of paid internship to manage properties for two buy and hold investors who own 35 properties as partners. They don't seem to want to pay me very much but I am eager to learn the business and make connections. How much do you think I should ask for so I do not feel like I'm getting taken advantage of, but also considering the fact that they are letting me learn and said they will give me connections and even deals? Also, how would the pay be structured? Thank you for your time.