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All Forum Posts by: Eli M.

Eli M. has started 132 posts and replied 221 times.

Post: Section 8 in Philadelphia

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

hey there, i was wondering is it possible to get 100% of rental payments from section 8 in Philly and if yes, how ? thank you all in advance !

Post: Section 8 requirements in Philladelphia

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

was it discussed somewhere already or no one is interested in section 8 in Philadelphia ? 

Post: Section 8 requirements in Philladelphia

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

Dear BP community,

I was wondering, where/how can i find out the requirements for the section 8 program in Philadelphia, so i could invest as least as possible into my rental property and get as much as possible from section 8?

thank you in advance,

In love with Philly

Post: Warnings before buying a foreclosure

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

Dear BP community, 

Would you please offer any words/advice/suggestion/warning for one to consider before buying a foreclosure in Philadelphia ? What are possible risks involved and what one should watch out for?

Thank you all in advance !!!

Post: An Investor's friendly broker in Philadelphia

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

Hey, there! Could anyone, please, recommend an investor's friendly broker in Philly?

thank you all in advance

Post: Turnkey vs. renovating

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

Dear BP community,

What would you recommend to a first time investor; should he go with a turnkey property which saves time, headache from renovations and brings in a cash-flow from day one or should he buy for cash, renovate it, rent it out and refinance it?

if it makes a difference, we are talking about a single family house in Philly.

thank you all in advance

hey, i was wondering what is the accepted (not suspicious) time for a vacant, requiring renovations single family home, in philly to be on the market ?

Someone told me 100 days, i get suspicious even after 30 days

Post: First deal - thoughts?

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12
Originally posted by @Brant Richardson:

Now that you have screened this property with the 50% rule and have found that you are interested, you need to run the actual numbers to see what the real cash flow is.

$1000 - mortgage - prop tax - insurance - maintenance (10% = 100) - vacancy (8-10%) - property management (if you use it) = cash flow.

Also, is the place truly rent ready or does it need some rehab?  Water heater new? Roof?

 how do you calculate a vacancy expense and why is it considered an expense?

Post: ?Cash Buyer in Philadelphia, PA

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

hey, what kind of properties are you looking for; rehab or under market turnkey property ?

Post: Auctions

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

did you hear something about the fact that one can't resell a house which he bought on an auction for year, or something like that the original owner could buy his house back even after the shrief's auction ?