All Forum Posts by: Rhonda Jones

Hi @Douglas B. I have one Section 8 tenant and I have to say that I like the fact that I get paid on time each month, and have a 2-year lease term. Even though you may not be in growing market, there will always be a need for affordable housing, I agree!

Market rents are increasing in many areas of Philly (along with the property taxes), but there are still surrounding low income neighborhoods where 30k houses are abundant. I specifically am interested in duplexes because the cashflow is greater, and will help offset the property tax increases (which are coming).

If you know Buffalo neighborhoods, like I know Philadelphia, you will be able to concentrate on those specific areas.

In Buffalo, do you target neighborhoods near Universities and public or charter schools? In what areas do you see signs of regentrification?

Latest update: our insurance claims adjuster came out and we are waiting on them to submit me a copy of the claim (hopefully I will have this by Monday). I will take you up on your offer @Bobby Beard The city claims adjuster also came out and we gave them an estimate from a clean out company for their services (1,600). They can start tomorrow - removing debris and mud. This is the good news.

The water and electric company will come out by Tuesday, but now we have a financial issue because (as everyone already knows) the city will take its time with this. Need to get this done asap!

Also my tenants have no local family so I am continuing to pay for hotel stays. @Steve Babiak , no they don't have renters insurance. I'm also checking out your link..

I need emergency funds now. Can anyone direct me to a lender who would be able to provide loans of around 10K? If so, please send me contact info.

Thank you

Thank you @Erik Hitzelberger , @Jon Holdman , and @Michael Seeker for all the information!I have an update:

On Wednesday night the water department continued to work on the break and our basement reflooded a few more times! We have extensive damages and the City is sending a claims adjuster out today.

I extended the hotel stays for the tenants through Sunday. Peco still has to come out to restore the power. Water service is restored to the duplex now.

I will have to go to Home Depot to get fans rented, but with no power yet, can't get it dried out. My insurance claims adjuster will be out tomorrow morning.

I am thankful that I didn't have any carpet down there; however, there is a huge hole where the water line comes into the buildling. My tenants had a bicyle and a mattress stored in the basement, but those were their only personal belongings down there.

These photos say it better than words...

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Thanks for the tips @Darren Sager - I upgraded to a plus member and look forward to the additional benefits. This is an awesome community!

Rhonda

Hi @Account Closed ! I will defininetely read the guide. Thanks so much!

Thanks @J. Martin for the warm welcome! I love buy and hold properties, and look forward to learing what others are investors are doing. See you around :)

Update: there is another break somewhere; the have to cut water off. I just made hotel reservations for my tenants at a hotel. Claims adjusters won't be out until Friday (for the city) and Saturday ( for my insurance). I never went through this before...need some guidance. Am I posting this in the correct forum??

I had a major water main break - totally flooded the basement in my duplex! I reported it right away to my insurance company, but a claims adjuster couldn't come out today. The Philadelphia Water Department came out and turned the water off, and the Fire Department did get about 3 feet of water removed. My partner is there now, and both water tanks are ruined. Water department is still there trying to restore water service to the block. I feel powerless - what else can I do??

It is exciting! Congrats Kim Book - I am happy that you have so many mentors here who will help you. I can also give you some pointers on what NOT to do! You'll be just fine :) Rhonda

Hi my name is Rhonda. I have actually been a member of the Bigger Pockets community since January 20. I’m finally getting around to introducing myself - so here goes!

I am a novice real estate investor with four rental properties, one being a duplex. I am a Philly girl - born and raised, so that is where I started! I made a lot of mistakes starting out, but the cost of that education is priceless. I am so happy to see a community like Bigger Pocket because it a place where like-minded people can connect and learn from each other.

I currently work 50+ hours a week as a Customer Service Manager; however, the entrepreneur inside me keeps me going. Real estate is an asset that makes sense to me because I can see and feel it! There is nothing more rewarding than seeing an old property transform into a beautiful rental. I would also like to start flipping properties, so I need some advice (look out for a bunch of questions from me :)

I love learning something new every day and meeting new people; I look forward to building lasting relationships with many of you!

Cheers to our success,

Rhonda