All Forum Posts by: Phil Chadbourn

Industrial engineer here...if you have a brain beyond what the books teach real estate is an obvious option outside the rat race.  

Hey Craig these houses are cash cows but I’m moving into larger multi family deals and also investing out of state

Hey Jason, you caught my eye as that’s exactly how I started out 15 years ago...house hacking a home in Bethlehem which became a student rental for Lehigh University.   I actually have all 4 of my student rentals for sale right now but it has been good over the years.

Your plan looks pretty solid. I can’t see if you’re doing a 30 year mortgage but would suggest that if not.
Biggest thing is make sure it is desirable location for students. I see people try and turn properties to student since they’re “a couple blocks away.” The students can be pretty picky about where they live and don’t venture too far from other students.  I assume you know this if you’re still a student...

Other than that room mates can present some challenges...

I’d suggest Bob Rust in Allentown 

Hey Alex, 

I’m having a hard time justifying $150k/unit at $1400/month.

What’s your expected cap rate? Are you expecting cash flow or just appreciation?

Check out Bob Rust in Allentown or Matt Trantor at Kings Spry

@Nik Moushon

Damn dog you’re really on your high horse there...

I didn’t mean diy everything and skip all permits etc.  I don’t think it’s necessary to have an architect involved if you’re just removing drywall and putting back up...there’s no structural change there, but possibly it is required. If there’s electric and plumbing involved then yes you should pull the permits. If you’re just patching a hole, I’m not pulling a permit

I’m not in Allentown (yet at least) but as far as I know you shouldn’t need all the architect, GC stuff then.

Note to (your) self: Always close up the walls before inspectors come in

Are you moving walls or just have them opened up to do other work (plumbing, electric) ?  

Try emerald granite by the airport. Tell them I referred you