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All Forum Posts by: Mike Cesarano

Mike Cesarano has started 1 posts and replied 3 times.

Originally posted by @Brandon Hall:

@Mike Cesarano before you go through the hassle of finding a property manager, please get with a real estate CPA who can walk you through various scenarios and explain the tax implications you will face. Remember, taxes are likely the biggest expense that hits your budget and it's in your best interest to invest in a tax advantageous way.

Scenarios you need to run through are (1) selling now, (2) renting and selling within three years, (3) holding and renting over a period of 5-20 years. Each scenario should evaluate the opportunity cost of your money and provide you with an expected IRR.

That sounds like some really solid advice. I'll start looking for one in Philly. I liked the woman who did my taxes a few years ago. Should I be looking for someone who does real estate specifically?

Hey Troy, That's awesome. I do have a lot of family about 30 minutes away that would probably be willing to help me with it. I don't have a handyman yet, but I guess I ought to be reaching out to some soon. I guess I've just been worried about what happens when the boiler breaks in the winter, or who shovels the snow etc. Thanks for the info!

I'm moving from Philly for a job in California. Ideally I think I could rent the place for $1800. It's in a great neighborhood, has a big kitchen and a deck on the roof. I'm paying $1250 a month for the mortgage. I'm weighing that against selling it (probably would get $275k with $178k left on the mortgage and then paying 6% to realtors and 2% transfer tax to the city).

I also feel like my neighborhood is only improving, so I expect some pretty real appreciation on this house.

I'm having trouble finding a property manager I would trust. Would I be better off asking a semi capable friend to handle it for 7% of the rents?

What would you do? Does anyone know how to find a property manager in Philly?