All Forum Posts by: Randy Gutierrez

For a SFH in that area I would say 70k is the max to buy and a minimum of 3 bedrooms is required for the numbers to pan out. Im from NYC and self manage a property in Easton.

Hello Everyone,

I was wondering what people are spending on rehabbing units so I can have some sort of an idea on what to expect before I start getting a few bids. Perhaps there is a simple calculation people use or maybe some napkin math. We have a tenant moving out of a 2 bedroom 1 bath unit soon and we are looking to pretty much fix the entire unit and bring it up to speed. We are talking flooring, paint, kitchen and bath. Nothing fancy, everything will be "tenant proof" pretty much. The unit is about 850 sq/ft and located in the Lehigh Valley area of PA.

@Art Johnson

I do not know the Philadelphia market well but I doubt the Lehigh Valley has lower price points. Local economy and driving distance from NYC were my reasons.

I was about to say ha, it would be nice indeed. I got a duplex for 120k which I think is relatively cheap to what is out there. The majority seem to be ranging from 135k-160k.

Where are you finding a MFH for less than 100k in the Lehigh Valley area? 

It appears that you are emotionally attached to Corona, nothing wrong with that but being attached to an area where the numbers do not work out is not a good idea. High prices, high taxes, high rehab costs, high of everything really, NOT landlord friendly....Unless you are a big time developer or have the ability to put down 50% downpayment I see no benefit to investing in any part of NYC.

I would say manage it on your own especially if you have spare time. You will learn quite a bit, things like setting up a second line, setting up a mailbox, drafting late rent notices, having prepaid mail etc. 

I had to chase my inherented renters for rent a few times, that process in itself you will learn things. The solution there was to switch them to electronic payments which was a night and day difference, they haven't been late since. They were paying with money orders originally. Only other issue in the 8 months so far was a leaking toilet which I called a local plumbing company for. Mind you this property is 2 hours from me, I have only been there once so far. I will be there within the next couple of week though for an inspection.

My point is you will gain some valuable insight and experience from doing things on your own. Also everything I mentioned is not to be perceived as monumental, honestly writing a 5 page essay at midnight in college was a more daunting task.

Where are yall buying these crystal balls at?

Homes in PA are so old they just default to 100 years. I would say there is a correlation between the age of the home and upkeep but nothing that should ultimately deter you, especially if you plan on flipping or rehabbing from the beginning.

Out of the three Bethlehem makes the most sense from a $$$ pov. You get Easton rents and Allentown taxes. Inventory is not the best though.