Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

5
Posts
1
Votes
Matt McGillian
  • Rental Property Investor
  • Philadelphia, PA
1
Votes |
5
Posts

Just starting out. How to find a deal?

Matt McGillian
  • Rental Property Investor
  • Philadelphia, PA
Posted

Hi all, I have enough cash set aside to put 25% down on a SFH or ideally a multifamily property (50k). I live outside of Philadelphia in the suburbs (Delaware county). The taxes are outrageous which makes it extremely hard to cash flow each month. I am looking for suggestions if anyone has dealt or is dealing with this issue. In the area I am looking into, a 1200sq ft, 3bed, 1.5 bath row home taxes are around 6k and are selling for around 150k. My main priority is trying to find a deal off market, but I am not having much luck. Any ideas / thoughts would be appreciated. Thanks all

  • Matt McGillian
  • Most Popular Reply

    User Stats

    6,629
    Posts
    7,583
    Votes
    Jonathan Greene
    #5 Starting Out Contributor
    • Real Estate Consultant
    • Mendham, NJ
    7,583
    Votes |
    6,629
    Posts
    Jonathan Greene
    #5 Starting Out Contributor
    • Real Estate Consultant
    • Mendham, NJ
    Replied

    I would hop into the city. Your numbers would work there and there is a ton of reliable off-market lead sources in the area. You can basically choose your in price based on the area and as long as you understand the neighborhood dynamics, it's pretty safe. Taxes are nothing. I have a 4/1.5 row house under contract for 115k (needs 60k reno) and the taxes are $1,200/year.

    business profile image
    Zen and the Art of Real Estate Investing
    5.0 stars
    9 Reviews

    Loading replies...