All Forum Posts by: Alex Dimeglio

It's mainly a section 8 city.  Low home values, high crime, and most of the city is in a flood plain.

Burlington City or Township?

@Niv Candade- I currently own a rental in Hamilton in Mercer County if that's the one your refering to.  PM me if you have any specific questions.

@Derrick AlexisI looked into Pottsville myself.  At that price your mainly looking at Section 8 tenants in a rapidly declining city.  The only thing keeping it alive is the brewery.  If it's that cheap it may be worth it.  However, your going to have to self manage a lot of problems.  There arent many property managers in the area.

Does anyone know where to find out what towns pay for certain size properties on section 8.  I have a 1/1 that is currently under market that is rented to a section 8 tenant.  If I increase the rent how do I know how much the township would pay compared to the tenant.  My tenant is good and would like to keep him however the previous owner of the property kept rent low.  My other option would be to submeter the water and charge for that instead of a rent increase is this allowed?

I'm sure that neighbors house isn't helping the sale.

@James Wise Thank You.

@Joe P. I purchased my primary home in 2012 and it was a forclosure. It needed a roof and bathroom. Which I did before I moved in. Now im looking at forclosures that are 3 times what I paid for mine. That need around 70-80k minimum in renovations. But the ARV is only slightly higher then the current list price. Now I know why certain listings don't have interior photos.

@Joe P. My initial goal is passive income.  The end goal is to leave the corporate world and work for myself whether its with a rental portfolio and possibly fix and flips.

My down payment is coming from the equity in my primary residence plus cash on hand.

I don't mind fixing my homes.  But I'm currently not looking for an overpriced dump.  Which is all that I've found in the foreclosures that i've looked at.  

@Joe P. I wish I could house hack.  However my budget doesn't allow it for PA.  Houses seem to be more expensive then NJ however taxes are slightly lower.  And I really have no interest in becoming a LL in NJ with the unfriendly laws so renting my current home doesn't seem like an option.  Where I live tolls aren't that expensive $1 and we also have the smaller free bridges. 

@Brendan Markle Thank.  I'm just starting my search but will definitely contact you if I have any questions.

@Jim Vanhorn  Thanks I will reach out to them.  Do you have any investment properties in NJ or just PA?