All Forum Posts by: Charles H.

@Dan PowersThanks for the info. Really helpful for a newbie like me. I am currently looking in west Philly for a buy and hold (BRRRR preferred). What is your take on the rents in the area? Are the rents keeping pace with the housing price increases?

@Jennifer Donley that is really awesome.  Hope to hear your story on the podcast one day. Looking at the links in your signature, I see that you education people on section 8?  Is that on a local level?

@Jennifer Donley

Thanks for the info.  Many of the things that you mentioned is nearly identical to how Joe Asamoah (BP podcast 356) was able to achieve success with section 8 rentals.  Where are you investing?  Are all your rentals Section 8?

@Drew Sygit

Thanks for your insight.  This is typically what I hear about Section 8.  Based on your experience, how has tenant vetting process been.  As a property manager, is that something that falls on your lap?  I was not sure if your experience has been with properties with tenants already in place.

@Al Lev

Thanks for the info.  Section 8 sill freaks me out but I was drawn to the strategy after listening to the BP podcast 356 as mentioned before.  Some reports I found put Philly second to Detroit with the number of people living below the poverty line.  The thing that I read was from 2019 (Pre-pandemic).  I can't imagine what that figure is now.  It almost seems as though there might be an advantage to developing this strategy. 

@Account Closed

Thanks for the info.  If this is the route that I go, I will be using a PM that with experience with section 8 housing in Philly.  Seems like so much can go wrong if not planned right.

I recently started looking in the Philly market and there is lots to learn.  I was wondering if some investors in the market have experience with section 8 housing.  If so, did they purchase a place that was section 8 or did they apply to have their house listed as section 8?  The conventional wisdom is to avoid section 8 housing, however, isn't the income guaranteed since the government assists with the rent?  This would be especially ideal during a downturn.  I recently heard BP podcast 356 and it seemed like a solid strategy but I am not naive enough to believe one strategy would work in every market.  Curious to hear from investors with experience.


Charles 

@Yuriy Skripnichenko thanks for sharing. 

As a broker in this space, how are you seeing things in comparison to what is in the report?

@Angela Romero Thanks for putting together.  Trying to start my investment career in the Philly area myself.  One question that I have was about Rental property insurance.  You mentioned $2000.  Was that meant to be monthly?

@Jimmy O'Connor really love the information you laid out here.  As someone looking to start their investment career in Philly, this was super helpful.  Thanks!

Charles

Hi @Jacob Freund,

Thanks for the info.  That is good to know.  At the moment, I do not have a place.  I am in the process of looking and in the process trying to see the best way to generate cash flow.  After listening to RE investors from the BP podcasts, it appears that some of them prefer airbnb.  I wanted to get better idea of the market in JC.

Where do you own in JC? I am sure the market is different thought the neighborhoods.  Downtown JC looks to have a higher premium but not sure the vacancy rate.