All Forum Posts by: Stephen Kappre

Hi @Tyler Holzer it all depends on what you are looking for. What type of investing are you planning on? 

@Mike Bonadies I agree with your thoughts - higher cash flow areas are easier (less expensive) to get into and generally show less appreciation and are riskier for various reasons - crime, schools, etc. Always important to know the neighborhood, developments, and if you are fortunate enough the neighbors themselves. As far as BRRRR, not too many clients of mine are holding rentals, they see the quick buck in the flip and go that route. I'd make less income since I help them buy and sell but I do wish more would hold for long term wealth.

Maybe @Anthony Susco would work. Also there's a local BP meeting tonight in Pitman if interested. :) 

You can get a place that cheap, and it is usually in poor condition. If it is in decent condition, it is likely in a lower class neighborhood. If you are from Camden then you know that there are better areas in the city to invest in, and you can pick up some places there very cheap. You won't likely find a place for $30k in a A or B neighborhood, unless it is in major need of repair. For instance I walked through one the other day in a very strong A area, comps for similar size around $250-300k. This place was 65k. Why? It needed major work. And it still might be worth it. But there's a crack in the foundation, it smelled ungodly, and it was converted from a single to a duplex at some point (I doubt a legal duplex). Hope this helps. 

@Daniel Kent

Maxie Heating: A fellow investor and client of mine.

Horton Heating and Cooling: All around good guy (Clinton)  - has worked with clients of mine. 

Hope these guys help. Feel free to use my name :) 

This one @Ian Livaich :)

@Robbie McCarthy a lot of your experiences mirror mine as an agent - lower entry prices can produce the cash flow, sometimes above 2%, but appreciation isn't generally on your side. Higher entry prices in higher end neighborhoods yield the same monthly rental income (and less cash flow) as homes 1/2, 1/3 or even less of the purchase price, but you get into trendier neighborhoods, generally less crime, better schools, stable or higher appreciation, etc. So you get into "A" neighborhoods, but can pay through the nose. Or you buy 2, 3, 4 + doors for the price of one.  I second @Mike Parlante above - sometimes Pitman has some entry level properties, and I love that area, there all the time (for R and R) - there's plenty of older homes too so BRRRR-ing is an option.

Each town has it's better and "not as good" areas. There are 2% options around. They aren't necessarily around every day of the week, but I can show you some that I've closed on. Some above 2%. 

@David Klein of course - keep in mind a good agent should be able to always show you both ARV comps and rental incomes (at least for those listed on the MLS). Reach out if you want to discuss more - maybe over a nice cup of Joe ;)

A few things ... is the oil tank in the ground? That can certainly change the scenario. As far as mold, it depends on where it's located, how bad, etc. For instance often I go through properties and the basement has a little mold. If the basement was poorly finished, i.e., and you plan to rip it out anyway, not a bid deal. I've seen greatly varying costs to remediate mold so it can be hard to say without seeing it. As far as the failed CO, that should be an easy reply to you and a quick e-mail of the copy of the CO. If it's just "two minor items" then the agent should be happy to give it to you.