All Forum Posts by: Brandon Morgan

@Joe Hershkowitz yeah I think it depends on the condition of the home and the location. I will go over with my realtor for the exact comps to see if it's worth it. But overall I am willing to try because the prices of homes in that area are extremely cheap compared to what I'm used to in Jersey where I live. 

 for this property Ill be doing a conventional loan. 

hi all I am a new investor, I just got my first duplex near scranton PA last year. I am now looking to buy my second rental but I have been looking at single families because the deals seam to be decent. the prices are surprisingly cheap over there for a single family averaging about 200k. I figured if I get a decent deal on a turnkey property that has at least 3 bed 2 bath I can prob rent for 2k a month give or take depending on the amenities and make decent cash flow. anyone else have any experience with renting single family rentals in this area? anything I should know, be causious of or be aware of?

 ahh that's great advice! thank you!

Hi all I am new to real estate and just bought my first property last year. It is a duplex near scranton PA. the Mortgage is about $2,400 and each tenant pays $1,550 monthly in rent so I make about $700 in cash flow monthly. It's a very old house but newly renovated so there has been some maintenance issues because of the cold and poor insulation. I was expecting some hiccups in the beginning so I'm not too upset.  overall though I am pretty happy with the deal. My current plan is to stabilize this rental and aim to buy one property a year. what do you guys think of this deal and strategy? I make about 100k a year from my W-2 so I have some wiggle room to experiment so I'm not rushing too fast just trying to get some experience and properties under my belt. open to any advice or past experiences.

 makes sense. I may not even go the partnership route but I am interested in just learning about all the options I have. 

 no have not read that but will definitely look into it. 

Hi all I am new to real estate investing I just bought my first property last year and finally got it rented out and stabilized. things are going okay so far, I have a property near scranton PA. I am just reaching out so see if anyone knows of any good contractors/ handymen? I am still looking for someone I can trust for random jobs since I live about 2 hours a way since I live in jersey. I found a decent plumber and electrician but I definitely need more connections for my team. feel free to reach out / connect I'm open to any advice also. just trying to learn and grow. 

 I think it highly depends on the area you are looking at. I am pretty new myself to real estate investing but my plan is to own many LTRs . I found a decent duplex in Pennsylvania. it was newly flipped and was a pretty decent price in an okay area. the mortgage is around $2,400 and I was able to rent both units for $1500. So I'm making about $600 in cash flow monthly which I am very happy with tbh since this is my first property. 

Quote from @Nathan Gesner:

Quote from @Brandon Morgan:

If you screw up a deal with a friend or relative, you will lose money and the relationship. I don't think it's wise to try this until you have proven experience and a solid partnership agreement.

It's OK to scale slowly. Most people never own a single rental. Most investors only own 1-2. If you can get to 10 over a 20-year period, you will change your life and look like a genius.

Increase earnings, reduce expenses, save, and invest.

 tbh I'm thinking if I am able to buy one rental property a year almost every year for the next 10 years I think that's more than enough. I make decent money from my W-2 so over the years I think this will definitely possible. I found an area where I can invest in and I'm starting to build connections already so far I think my current plan makes sense. I definitely don't have to rush or spread myself thin to scale faster. thank you.