All Forum Posts by: Stephen Franco

I don't see repair pad or management pad in here. And you're pretty much assuming you're going to hand management and repair of Forever at no cost and that materials won't cost anything. Am I missing it in your analysis?

personally I've done this a couple times, and I just walk right out the door and talk to him. I come off as a regular person just hey I'm here but I will tell you the two times it happened to me it was a surprise. I bought a double, and I've been able to get into one side before the sale but I couldn't get into the other. After this as I was able to get into the other side...and met the resident

One told me his rent which broke me even in 5 months.  Had him as a tenant for a year

Other one was former owner...I did a Rto deal selling it back to him for a good profit

i am interested.  Rates.? Points?

This is an example of the GREAT deals we can offer in Northeastern PA.  

Separately, with no financing, and 10% maintenance, 10% management and 10% vacancy pads, 17% cap.  higher if financed.

3 units, fully renovated, (new roof to windows to water/electric/cosmetics/everything), off street parking, 3 bedrooms each, yard, rents for 650/mo each.  $75k done and delivered

Or, a  package that can be cherry picked or bought as a group:

13 units. rented. c grade, operating. passed inspection. OK tenants, OK condition. ALL wilkes barre city except "Lee Park" which is just over line in Hanover Township.

Seller very motivated. Can close fast. Seller will pay title insurance costs, split transfer costs, clear title.

Lee Park Hanover 4 units.

Scott St WB 6 units

Franklin St WB 2 units

Grove st WB rowhouse (1 unit)

Grove will get a new roof on closing.

awesome

I do awesomely well in the Scranton  wilkes barre northeastern Pennsylvania market in residential real estate. 

I am also looking at Self Storage, but the ones I have come across don't offer anywhere near a comprable cap 

For instance, I have 13 residential units. C grade. 

Cap rate with no mortgage, 10% management 10% maintenance 10% vacancy, cap rate exceeding 15-18 percent. 

If you put some financing in the mix you're well into the twenties or higher percent  that's before any kind of depreciation or other tax advantages are counted.

I've yet to have a tenant that *** for their property back ever come and get it. However if they do ask, I believe you're required to store it for 10 days at no cost and up to 30 days where you can Bill them for the cost. Typically I will take the property out of the unit and stick it in one of my basements or some other storage facility just so that I can prep the unit and re rent it and hopefully recover some of my losses.

I still have solid 15 to 20% cap rates in my market, with strong rental histories and all of my buildings. We are starting to experiment with A and B grade properties, as there are more transient professionals coming into the market for a growing Healthcare and Logistics sectors. Hopefully that will bring equal or better cap rates, and should certainly bring leftenant drama. But my area of Scranton is still a great place for TurnKey High cap rate Investments

I would love to collaborate in a mailing /marketing campaign

message me also please

And check out dreamrentals.net. he shares his great lease