All Forum Posts by: TImothy Talarico

My brother. Talarico plumbing

I could list a number of realtors Ray......let's side bar this.  I grew up in Reading so know the area very well.  

Still think there is a lot to this.   In order to buy a bundle of seven rentals I would want to go through each house individually and review the rental agreements for enforcement/continuance and make a call from there.   Also depends what part of town they are located in currently and lastly what is the condition of the homes and I would want to know what a previous year's maintenance fees look like. 

Jason has good points. Also are these units already rented or projected rentals?   Numbers seem high.....a lot of bad sections of Reading and also a lot of poor real estate bars on condition of house.  I know of one realtor that bundles and not too successful. Craig's list is good start and I would go singles w much better detail

One other thing to think about is why they are only paying the heating.  I would have the tenant pay for most everything....water, sewer, electric, not just the heat.   It sounds like a sweet deal for the renter.  I would also check out the current rental policies and see what is covered and not for your sake.  You need to get new contracts in front of them.   Everyone has already given you great advice on the house and it seems like you are hearing and following instruction but you also need to think of your time as property manager (look for outside help.....I know some people in Lancaster/York/Harrisburg) that do this and it's worth the money 10% rent.   Just looking at things from a different angle.   House is nothing unless you have good renters.   

David is correct in what he states.   Hanover continues to modernize the city which tends to tell you there are more opportunities for flips than rentals but the continued growth of logistic facilities have driven people to the area.   More of these people are lower income so rentals in city limits may be less than stated.   Still a good area.

What do you want to know? 

There are a lot of good deals to be had at Sheriff Sales but you really really have to do your homework.   You can really get burnt if you don't.   You should also learn who the sharks are at these events...meaning they go w/ big pockets, or slum lords or high end brokers,etc.   You have to know what you want and if you know the right people....you can usually get into a lot of these houses.   If you want to more offline you can email me and I'll do what I can to help.  I work in PA with a lot of these.   

There is a Berks Real Estate Investment club that is really a good networking tool.  We have quite a few people from Pottstown there.    Worth the trip at times.    Yes remember MAC as if yesterday.  I still say it today.   Joshing you about Lexington...beautiful controlled city with decor that is very conservative unlike other areas and lots of brick.   No big McDonald signs or Burger King but instead small sign out front that is tasteful and appealing.    Town is nice and man are there some whopper houses there.    

What's to rent in Lexington....other than blue grass and plenty of horse country.   Close by neighbor and doing the same w/ my brother.   We should hook up between us.