All Forum Posts by: Shang Min Wang

Hello,

I have purchased a duplex as my primary residence for two years. Recently, I'm wondering that I should rent my second floor unit to relieve some financial pressure and to start building some experience. Since it is still my primary residence, I do not want to manage it through management company.

1. For leasing contract, do I need to contact an attorney to draft the contract? Or the Residential Lease Agreement from The Landlord Association of Pennsylvania is good enough?

2. Should I have the second unit inspected before renting it?

3. The utility meters are not separated. Is it legal to do rubs program and reimbursement tenant for utilities in Montgomery County? I did find some lease addendums for utilities online. Should I have it reviewed by an attorney?

4. Please refer me a good local contractor in Montgomery County.

Thanks for your patience. Any suggestion/comment will be appreciated.

Hi, Angela

Welcome to Philly.

I’m also a new investor looking in Philly market.

A Breakdown of Philadelphia Neighborhoods and Values is a great start to study the market.

Hello, BP communities.

My name is Shang-Min. I describe myself as an "experienced newbie" in the title because I am actually a financial analyst working for a large multi-family real estate investment company in suburban Philly for three years. I love my job. At the same time, I'm fascinated by real estate investment and want to start my own investment. However, I have no experience in small single/multi family real estate investment since most of the deal I've gone through are hundred-unit apartment complex. As a result, I bought a book called "The Book on Rental Property Investment" and tried to educate myself and that's how I know Bigger Pockets.

My goal is to start investing with brrrr or buy and hold strategies this year in great Philly area and at the same time building a reliable system to growth. To achieve this, I need to overcome my fear to connect with other people. I wish to make as much connection as I can in BP community. Any help or recommendation would be appreciated!

I appreciate those who read this and hope everyone has a great holiday weekend!

@Louise Cornell

I’m very interested in investing in suburban Philly to start my first. Could you share some info with me? Very appreciate for you help!