All Forum Posts by: Travis Wylie

Hello @Nicholas A Haines!  I see you're from Hanover so not too terribly far from me, and you're near the Mason Dixon line.  I'm think I'm following you're thought logic here, but I have to ask....is a $15 /hr minimum wage enough of a reason for someone to move?  Moving is a pain and can get pricey if you have to rent a Uhaul /hire help.  Is someone that only makes minimum wage going to be willing to move closer to their employment for a few bucks extra a hr?  Perhaps the foreclosure idea in your area will work because Hanover seems to be a steady market, but I wouldn't bank on an influx of movers because of a $15/hr minimum wage on Maryland.  Just my 2 cents

Best of luck to you @Mark Wurtemberg in the future.  Keep me posted how it goes!

@Mark Wurtemberg, besides bringing half of the down payment (10%) are you bringing anything else to the table (i.e. management or the deal)? If so, I would bring that up as a discussion point, and if you're not bringing anything else to the table start thinking of a way of providing more value to the partnership that warrants a 50/50 split.  

I don't have quite the cynical outlook as @Anthony Dooley, but perhaps that's because I haven't been 'screwed' yet.  I do however, believe that partnerships can certainly work.  The whole 'it depends' can certainly be applied to partnerships as it can to many other areas of life and real estate.  I was also told to never choose your friends as roommates, and yet that always worked out for me in college/post college.  

At the end of the day if you don't feel like you're getting a fair deal, don't do it.  I get the whole concept of 50% of something is better than 100% of nothing, but you don't want to get into a bad business marriage either and if you're going into   I've been fortunate that all my partnerships are with close friends/family that I have full trust in.  

I use a guy in Carlisle named Adam Deluca from Allied Attorneys.  Reach out to me if you want his contact info

Hello @Joe Martella!  Congrats on your local investments.  Nothing wrong with investing in your backyard as it's often easiest if the numbers make sense.  Regarding Harrisburg, I'd highly recommend getting someone on your team that has some boots on the ground and knows the city block by block as it's imperative in this small city.

@Luis Bermudez - You mentioned you have a house under contract, but who is going to manage the property?  If you're self managing, are you prepared for this from a distance?  If not, you may want to look into property management asap.  A house that is poorly managed is going to wipe out your cash reserves and could end your investing career.  Start with first getting property management in place, and also start building up your cash reserves however you can.  I would not recommend investing without sufficient cash reserves.  Sure, you can do it, but wouldn't recommend it.

Congrats @Jennifer Prol!  I just closed on a house right down the street on the 2400 block of Derry St.  Hope yours works out well for you!

Hello @Taylor L.! I'm based out of Harrisburg, and yes, you can still find deals on the MLS. I've closed on some this year from the MLS that are great, cash flowing properties. You must know Harrisburg market very well or have someone on your team that does because it's a very 'block by block' city.

Yes, I do @Luis Bermudez.  Feel free to ask any questions and I'll be happy to share my opinion.

You did the right thing @Joe P.!  You're a nice landlord with a heart and it shows for second guessing yourself, but you will grow tough skin over time ;)

Best of luck to you!

Hello @Dion Friday!  Not sure if you have any 'boots on the ground', but for Harrisburg market you better either know it yourself or have some boots on the ground that do because it can be very block by block and you can easily get burned if you're familiar with the city or the Harrisburg MSA (like you can in any area, but Harrisburg in particular).