All Forum Posts by: Bryan Fean

Time will tell. The state has plans to improve this area. But their plans don't always work out.  They put a nice apartment complex in that could be a start. It is a long play to hope for the old steel plant to be revitalized. Some areas are scary.

I can't remember or find the BP Podcast with the electrician that would buy knob and tube and flip those houses.

I want to recommend to a friend.

Anyone remember?

Or know how to search?

@BW Miller congrats on the property!

Do you mind sharing how much rent you expect to get?

I recently looked in that area and noticed there is an Aston Inspection for rental properties. I would be curious how that goes. It looks like you have to wait until you have a signed lease to do the inspection.

Best wishes on this property and future investments.

Bryan Fean

Would it make more sense to use a HELOC or pay cash for a buy and hold? Assuming you had enough cash in the bank and enough equity in your home to do either. The only goal is the best long term financial situation. Would keep the rental for at least 10 years. And may buy another property or two, but not looking to build an empire or quit my day job.

If you used a HELOC you would not need to use cash on hand. But if I had cash sitting in my bank account getting 2%, I would aggressively pay down the debt anyway. That is part of the equation. I want to get a better return on my money than the bank.

If I paid cash, it would deplete my savings, but I could always rap a mortgage on it or maybe get a HELOC on it if I needed the money. Maybe BRRRR...

I guess either way you are not getting good cash on cash return because you are not using leverage. But as I said I want to get this money working more. Although would you consider HELOC money "cash "?

Am I missing something, or is it a push?

@Laura Bowler

Nice job. Keep it going!

Where is the property located?

I'm looking for a contractor to help with a major renovation in Boothwyn, Pa.

Any recommendations?

I have been looking on the MLS for a property that cash flows at least $100 per month after all operating expenses, including capex, vacancies, and PM. I don't want to buy in run down neighborhoods .

I like the idea of New Castle County, DE due to the low taxes. So I want to ask the local investors, "Where should I focus my search?"

Thanks,

Bryan

@Rich O'Neill

Thanks Rich

@Tj Hock

Thank you TJ. We will talk.

Hi everyone,

I'm looking to learn more about real estate investing and hope to get a couple of "buy and holds" to supplement my income. I live in Delaware County and am mostly interested in New Castle County Delaware.

Thanks