All Forum Posts by: Account Closed

@Cassandra Sifford That's good to hear that they're opening up the purchases for investors. Last time I looked it was only available to people willing to buy and rehab the property. Do you know when this will go into effect?

@Cassandra Sifford wow now i makes sense. That's a lot of money and the Value on the houses around 9th can skyrocket. Might make sense to buy something cheap over then and see how this plan changes that area. March 2020 is a quick turnaround as well. 

I'm assuming your referring to all of those properties owned on 9th Street. Please let me know what the zoning administrator says. 

I know the house you're talking about, my house is literally right across the street from that house. Toured that one originally but was uneasy about the leveling in the floors. 

It's going great. Already have someone in. wonderful thing about Wilmington is that word travels fast. I think more people walked up and asked to see the property while my contractor was there, than marketing that my property manager did. Also you might have to overlook some factors depending on your rental strategy, but it can be well worth it. Also it's over near Brown park, next to Thomas Edison charter school. If you have any questions about that area feel free to ask. 

If you open up to where you're willing to invest in Wilmington there is TONS of inventory. Area's like Compton village, around Brown park are great places to get in very cheap. I'm looking pretty much everywhere in Wilmington for at least 3BR and 1400 SQF. Mostly looking on MLS.

I've recently had luck just knocking on the neighbors door of boarded up houses. The man gave me the owners number and told them I was interested and I toured the property the next day. I would really try that out as well. 

Hello Domanique welcome! Regarding contractors word of mouth is your best bet. Also get the information of as many contractors as possible because you never know when you're gonna need a new one. The horror stories you've heard can and probably will happen to you, it's just part of the learning process. 

50K is a decent chunk of startup capital and that can go a long way depending which properties you want to purchase. You could avoid the bank altogether. @James Masotti is a great resource in Wilmington as well.

PM me if you have any more questions!

Hey @Tianyi Chen sorry to hear about that. What part of Wilmington are they in if you don't mind sharing?

What @James Masotti said. Depends on what your investing style is. If you think you can deal with the headaches of interesting tenants than Wilmington can really open up for you. Just assume the worst going in and ask yourself if it's worth the headache. Hopefully, it's a 3BR as well. 

What numbers are you using if you don't mind sharing? 

Thank you everyone for your responses. I will take all of it into consideration when I find out who I'll be working with.