All Forum Posts by: Tim Sharkey

Does it have to be actual home inspector? have u thought of using a trusted contractor? Private message me.

Hey Samantha congrats! You DONT need a property manager, especially if you are going to live in the house. Who will take care of it better than you? Waste of money in my opinion. 

With your position in the u iveraitycommunity, you should be able to find great tenants, but the timing is crucial it seems. Craig’s list add should be crafter with CARE, and yes you should start right away, even if moce in is months away ( better tenants plan longer ahead).

If you need helping crafting your ads or anything else let me know, Ive owned and fix up rentals And house hacks in philly for 10 years now. Message me directly!  Good luck!

Tim S. 

Www.revive215.com

Ankan, congrats! Make sure you take some planning advice from some local people to Philly. Not quite sure that area of west philly is prime for flipping, but could be, depending on what ROI you are seeking. Find out what a DONE flip goes for on that block or the next block over. Anything further away from home will not be accurate.

Use Home Depot. Buy insulation/schedule installation all at once.  U don’t need 3 quotes. 

Hi Mauricio,

I’m an investor/contractor in Philly. Did everything myself on my first 5 flips to establish cost/timelines. 

This should be something a good GC should be doing for you as part of included fee. I’ve done this for some NY investors. 

Let me know if you want to discuss further. 

Tim

Hi Steve,

I think it’s a mistake to think of “southeast Pa” or “DE” as singular markets that will provide singular results. Inside each of those areas are 50-500 micro-markets that are all going to provide different results, returns, types of tenant.

For example, A row house in Wilmington is an entirely different investment (acquisition cost, ROI, tenant quality,) than a SFH standalone home in suburban Newark. You will see the entire spectrum of properties and tenants in each of the "southeast pa" and "de" markets. My advice is to get MUCH more specific. Pick a few neighborhoods within those areas and start tracking as much data as you can.

Use the 1% rule as a starting point to cut out all the “distraction” properties and get you honed in on the profitable properties and areas within those sub markets.

Then, when you have your financing together, find someone who has a great property and great tenants and great return, and buy the house next door. 

Replication of someone else’s successful model is a great way to begin. Join those groups! 

Tim

Anyone know a contractor that can handle the install Of a basement egress window of an old townhouse?

I have a great roofer in the city will probably charge 3k or less message me directly for contact.