All Forum Posts by: Account Closed

Yes, I would like to pick your brain about a few things Joseph. The City seems a lot more complicated with needing a housing rental license, a commercial activity license, and the added taxes. What has been your experience with getting and maintaining these certificates? Also, do you represent Philly Managed Town & Country? Would they help with setting up an LLC for my real estate holdings? I would like to not hold the properties in my own name. Also, I like the financial protection an LLC would provide. In addition, would they help with the filling of these added forms and licenses with the city? Also, do you have an knowledge of veteran orientated programs in the city to help with setting up a business? Navigating the city's website is a pain and most of the grants have very specific or complicated criteria.

Thanks for the advice Joe Mulcahy. I will defiantly use rentometer in my research. But I have no interest in "doing it myself". My parents rented out two duplexes in Drexel Hill and Morton both which are not so bad areas in Delaware county. They held on to them for about 15 years but dealing with tenants, screening them, and finding them was a massive headache especially for my mom. Tenants tried to sue us, had to evict about half a dozen tenants, and collecting rent was like pulling teeth. I would rather avoid these headaches. 

               I was wondering if anyone on this site has used this property managing company before? Or if any of you more experienced investors could over look over this info to see if this company offers a good product.  http://www.abccapitalinvestments.com/

                 They offer properties near University City part of Philadelphia and properties usually in West Philadelphia. While it is not the best area it is close to the University of Pennsylvania, other colleges and local hospitals. What worries me the most is they insist on renovating the property for you and it is the majority of the cost. They claim (but don't guarantee) the houses will appraise for more then the purchase price and cost of the flip. I have looked up many of the properties on their website they have in past renovated and they did appraised for the amount they predicted. But they may just be advertising the times they were right and not their mistakes. 

But the most appealing feature is they are replacing everything thus hopefully eliminating maintenance cost for a few years. Also they offer to help with acquiring financing. In addition they offer some interesting financing options for cash buyers. They say you can get 46% ROI by buying cash then using a equity loan to extract all your money you invested in the property. And will set up an LLC for your real estate holdings, offer rental insurance, guarantee at least one years rent, also they cater to overseas investors which means I would assume they offer full service property management.

                      Mainly my question is does what they say sound right? It is a sound investment? Would this be a good way for a first time part time investor to get into the "game"?