All Forum Posts by: Andy C.

Hello,

If you've no experience a flip is possible the worst idea you could have. Unless you already work in construction and know how to do most of the work yourself.  In the long run I think having rentals is more profitable than flipping. You should start with a duplex or triplex as owner occupant and see how it goes for a year or two before taking on something more risky. And don't forget to be legal in Philly you need to go through L+I and get set up for the BPT. And as you should know living near Philly some neighborhoods are war zones so you need to think really really hard where you want to put your money. 

How old is the house? Can you put a picture up ?

How do you figure this ?

"I could probably do better just outside of the City in Philly but it would be more of a low-income tenant base with a low/declining population, less income per capita and net worth than in the City, higher unemployment and more vacancy. The City just seems safer for my first investment and I think I would have to be more familiar with the Philly market to make bets on these remote neighborhoods."

I've properties in Delaware County I'm getting between a 9 and 13% ROI. You could buy THREE three bedroom row homes in good condition in Glenolden in decent neighborhoods for $250k that rent for $1,200-1400 a month Have you actually looked outside the Temple area ? I went to grad school at Temple, some blocks just off campus you'll need to be on your toes to keep safe. Look in DELCO, you might be surprised.

Just fire them. It's costing everyday and it's never going to get better. Tell them you'll be over in the next day and collect your keys, etc. 

YES, find somebody else. I don't know how to find legit legal advice. I've shopped around to no real success. 

  Philly is a city of neighborhoods and one block might be nice and the next not so nice and the next a war zone. You must be really really careful about where you are looking. I tried to use google street view but it's a night time pic so it's useless.

READ this https://business.phila.gov/Documents/Licenses/part...

L+I can be a real treat. 

Do you really want to do business with someone who won't give you his last name? I'd be really careful about getting scammed. There is a current scam going on with FAKE real estate adds.

The guys who handle the inspections have given me a great deal of insight into parts of town and what part of town I should be looking into.

I don't understand.

According to your profile: Ayodeji Kuponiyi is the co-founder of The Kuponiyi Properties Group with his wife and has been involved in real estate investing for over 2 years. Ayodeji invests and manages rental properties in Lansdowne, PA. Ayodeji focus on buy and hold investing with cash flowing single-family and multi-family properties.

SO, you say you already own and manage rentals in Lansdowne which means you should have been dealing with the borough and should know the market and the pros and cons of it since you already have properties there. IF you haven't gone through the proper process to make your rentals legal you should stop by the borough and get it done. The guys at the borough are really nice ( and will HELP you out) if you've been playing by the rules. By not doing things the proper way you give the rest of us who are doing it on the up and up a bad name.

It would be crazy to accept free property management! Why would someone trust someone to learn with their investment ?