All Forum Posts by: Austen Mueller

I am located in Chicago, IL. I have a few folks that are from out of state and would love to connect them with other amazing realtors in their desired areas! Please let me know where you're located!

Philadelphia, south central PA, and many more. We work with investors

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Quote from @Harleen Kaur:

Hi,

We have a primary residence and one duplex as investment property in Los Angeles Area. We would like to invest out of CA and use a property mgmt company and our core requirement is positive cash flow. Looking for resources that can provide me following info.

(1) States with growth where it makes sense to invest from rent, favorable policies for landlords, and tax benefit.

Investment property is not our main source of primary income, but means to diversify investment portfolio , get tax benefit, and create generational wealth.

PA is a great stable market where we still see the 1% rule as far as rent to purchase price. It’s a landlord friendly state that cash flows well. I am an agent who works with a property management group called Home365. They specialize in helping acquire and manage Passive & Predictable assets for investors such as yourself who are looking for markets out of state. Would love to connect and talk more about it if you are interested.

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Quote from @Jonathan Chang:

Hello everyone! Do you have any recommendations for resources that provide very detailed, practical, how-to guides? There are many resources out there that are just fluff, motivational speeches, and just feel-good rhetoric. Sure, the most important aspect of real estate is to do it, but I need more substantial guidance. My goal is to invest in multiple properties and rent them out to make passive income. I appreciate BP and there are great resources on here already, but I also like to hear from others and gain their insight. Thank you for your time!

P.S. I would consider myself somewhat new to the game. I have one property in Texas and just bought some land in Missouri to build a house on.

I would get in touch with us at Home365. We can help you acquire and manage predictable passive investments. You need little to no experience. We have trusted agents in markets all over the US that can find great turnkey rentals in their markets. On the back end we have a one of a kind property management company that will take care of everything. Giving you, the investor, the ability to gain all the benefits of real estate without all the headaches of being a landlord.

1 Vote

Germantown, Maryland

Great questions. I love househacks. Right now finding a tenant in these areas should not be a problem given the macro environment. As a general rule those nicer areas I would calculate with a vacancy percent of 8% Drexel hill and Landsdowne have higher taxes in my opinion.

1 Vote

Philadelphia, Pennsylvania

Quote from @Joshua Messinger:

Hey @Austen Mueller!

I would make your client aware that there is a current ordinance that is being put into effect on January 1st, 2023 where all STRs will have to get a limited lodging license and will only be able to rent for 30+ days at a time unless if the property is zoned CMX-3 or above then you can rent it out for less than 30 days.

Otherwise, a good solution to this new ordinance that is being put into place is focusing on the MTR market/extended stay market as it seems there is becoming a new trend with traveling workers and corporate leasing staying at properties/units on a medium-term basis (2 months - 12 months).

If you have any more questions don't hesitate to reach out!

All the best,

Josh

Great insight. Thank you! I’ll be sure to reach back out if I have any questions

1 Vote

Philadelphia, Pennsylvania

Quote from @Luke Carl:

My strategy would be to do it in an area where way less people live. Check out a book called short term rental long term wealth. Shameless plug.

I agree with that strategy. I’m sure areas like that are more STR friendly as well and provide consistent returns. However. Catch here is My client has picked philly because he will be in philly for work purposes multiple times a year.

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Philadelphia, Pennsylvania

Hey BP family! I'm looking to learn more about the Philadelphia STR space. I would like to hear some insight into your deals. I am an agent and have a client interested in doing this. What are things we should keep in mind locating and setting up a STR in Philly.

1 Vote

Philadelphia, Pennsylvania

Quote from @Account Closed:

Hi all, I'm fairly new to both the real estate world and the city of Philadelphia in general and want to get a better understanding of the market out here. From an investor standpoint, what are some of the the best upcoming areas in town for investment real estate? Whether it be from personal experience or recent trends that you've observed.

Welcome! Philly is a diverse market, with a little bit of everything. It really depends on what your looking for.

we are seeing a lot of development in brewerytown/strawberry mansion, port Richmond/Kensington, Point Breeze in south Philly. Also Germantown in the north east

Philly had scene a lot of appreciation in these markets and is becoming a desirable place to live. For that reason we are seeing higher prices making it hard to cashflow in these areas if your interested in turnkey rental. If your into fix n flip and BRRRR deals these areas would be best.

if your interested in turnkey rentals areas in west and south west philly are a good place to look.

2 Votes

Philadelphia, Pennsylvania

Quote from @Boruch Vann:

I am seeking my first rental property. I've been scanning for leads in my area for a couple of weeks, but every opportunity I find offers negative cash flow because property values are disproportionately expensive as compared to rents in my area. I don't think I should go for gut-job BRRRR style investments with my low level of experience. I think it makes the most sense for me to look in a different region where rents are higher versus property values. Does anyone have experience starting out your portfolio as an out-of-town owner? What obstacles will I have to overcome? What are the risks?

Definitely want to educate yourself first. I’m biased but I do recommend Home365 property management. They are in a couple different markets giving you the ability to shop around without talking to different management companies. I’m an agent located in PA. We help out of state investors all the time. For showings we usually recommend FaceTime at the least, and always do an inspection. I think your spot on with your strategy. finding turnkey rentals in different markets will be easiest. Things get a lot harder and take more time and energy if you start doing work to the properties.

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All Forum Posts by: Austen Mueller

Austen Mueller has started 6 posts and replied 230 times.

Post: Is this a wholesale deal?

Post: Realtors - Lets Connect!

Post: Investing out of State

Post: Real estate resources that isn't fluff

Post: Are Vacancies Common in the Philly Suburbs?

Post: Philadelphia STR Strategy

Post: Philadelphia STR Strategy

Post: Philadelphia STR Strategy

Post: New to Philly real estate - looking for opinions on the market

Post: First Rental Investment can be a distance property?