All Forum Posts by: Theresa Mack

I know of a few and I'm sure there are more off campus and just blocks away from LVC.  I have a couple right down from me.  They usually charge $500 per room/ 3 bedroom home.  

Investment Info:

Townhouse buy & hold investment in Annville.

Purchase price: $103,750
Cash invested: $31,460
Sale price: $103,750

Purchased off the market

What made you interested in investing in this type of deal?

Rents go around $1200 or $500 per door.

How did you find this deal and how did you negotiate it?

Neighbor

How did you finance this deal?

Conventional Loan 20% down on 15 year loan at 2%

How did you add value to the deal?

Eliminated Realtor Fees

What was the outcome?

Close in August and move on to the next property.

Lessons learned? Challenges?

So far so good. I'm sure there may be some in the future.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no

Also, I have seen a few duplexes in 17042 go for $119,000 and one in 17003.  The one in the Annville 17003 I would have loved to get BUT, i was flying to vegas the very next day with all the people I would have sent to look at the duplex for me.  So It slipped away in days!!  Keep an eye on your alerts and make sure you have a general contractor you trust if you are going to rehab!!  My boyfriend is a GC so I got super lucky!!

I have looked at multi family mainly duplexes as well as single homes.  The prices are so high right now and you really got to look into all the ordinances and laws pertaining to rentals.  I checked several in the Poconos Jim Thorpe area and with all the regulations I don't see how anyone has rentals because most of the areas are restricted which is a new law they passed recently.  Some require you to be local and if you are not you Must have the property maintained by someone local which obviously would be a Management company (more loss of money) there.  As a result I am closing on a home attached to mine that can make $1200 per month due to LVC college and limited residential homes that are vacant in the Annville area.

To answer your question, the inventory is somewhat out there if you are willing to pay top dollar or are able to rehab it yourself.  There have been many tenants that are not allowing their landlords to show the apartments and have not really worked with the landlord.  I myself will not purchase a place that I can't see!  I learned a lot from just going to check places out all over for myself.  The pictures are usually not what they seem! lol  

@Ryan Jones I have used my own home as an airbnb in Annville just 10-15 mins from Hershey park and have had success. Mainly tourists for the hershey park and concerts.

I am now purchasing another home in the area because long term rentals are making quite the profit!

Can anyone tell me if you own an airbnb, can furniture/appliances be tax right offs?

Tim Herman,  

Thank You!  I saved the websites

Bill Brandt, that is a great idea!  Thank You

I have been trying to locate classes for PA landlord tenant laws and cannot find any.  I have located very expensive books and only just stumble upon the Acts which would be nice if I could find something in laymans terms.  But your response does help! Thank you Tim Herman!

First Time Property Investor and very NEW as a realtor.  I am interested in a duplex that is tenant occupied, Month to Month lease during Covid. What options do I have to remove a tenant during covid and after covid?

Has anyone dealt with a hoarder in one of their properties?  I consider this a fire hazard and can only imagine all the costs I would incur once the person leaves and most likely leaves their property behind.

Do you have to go through eviction even if their lease has ended?  Can I simply call the police and have them removed since there is no lease in effect.  

Can I have them vacate the rental prior to closing if there is a 30 day notice?

Thanks in advance!!!

Lots of questions! Thank you so much in advance. I couldn't find much to answer these in the past forums.



Lots of questions! Thank you so much in advance. I couldn't find much to answer these in the past forums.