All Forum Posts by: Nikki Taylor

My business partner and I just finished our first rehab (woohoo!) -- a rowhouse in South Philly. Does anyone have any referrals for a great seller's agent in the area?

Thanks for all the input everyone. Doing a complete re-wire sounds like the move. 

@Ethan Giller We are definitely looking to go near the top of the market for the area... it's my instinct too that buyers will be looking for new wiring at that price point.

@James Brand, Yes we are keeping some of the original features: the plaster walls, which are in great shape, will get a new skim coat, and there are original pristine hardwood floors in the living room. We're also debating keeping the radiator system instead of installing HVAC, and we're debating keeping the hot water heater as the current one looks to be in good shape, but everything else will be new.

My partner, a GC, and I are involved in our first flip in Philly (Girard Estates area) and we're trying to decide whether we can keep the some of the old wiring in the house or whether we need to completely re-do it. It's old cloth-bound wiring, I'd guess from when the house was built in the 1920's. Right now, everything works just fine. An electrician we trust said that as long as the wiring looks to be in good shape, and is working, we can keep it as long as it's holding only 15 amps and we re-distribute heavier loads to new wiring (like in the kitchen, for example). That would certainly be helpful as a lot of the wiring is currently behind plaster walls.

My question is this: if we keep some of the old wiring and it one day causes problems after the sale of the house, are we liable for any damage? Is old cloth wiring something we would need to disclose before the sale of the house? Any other considerations we're missing here?

Nice, congrats on your portfolio!

I think one of the strongest draws of Rochester is definitely the great schools, and I'd love to rent to students ideally. I love the East Ave/Park Ave area and know it well because I lived there for 4 years, but I think it might be a little too expensive at this point. 19th Ward and South Wedge seem more in our target range. The main question now, as you mentioned, is whether we want to pursue properties that need rehabbing or not. I've remodeled my own house in Brooklyn, but I'm not familiar with great Rochester area contractors... yet! It's definitely something I need to research more before we decide which road we want to go down. Buying and holding renovated properties certainly seems easier for a first-time investor, but the BRRRR strategy would allow us to re-invest our seed fund and make the most out of our initial investment. Thanks for your input!

Hi Rachel, thanks!

Hi Naftali, good to meet you. We're looking at single family homes and small multi-family homes, and right now I'm focusing my search on the South Wedge, 19th Ward, and the East Ave/Park Ave area. Where are your favorite areas to invest in Rochester?

Hey! I'm new to real estate investment, based in Brooklyn NY but looking to invest in my hometown of Rochester, NY. I'm primarily interested in buy and hold but also just looking for general advice and shared knowledge!