All Forum Posts by: Chris Good

If the lease says 90 days I'd just give her an additional month, you just want to make sure you gave her proper notice. I normally post a notice on the door and take a picture of it so its time stamped. I personally wouldn’t get an attorney involved for something like this..

I personally would replace it and give the residents fair warning that if it clogs after its replaced, they are responsible for unclogging it or paying your plumber to do it for them.

You can do that but I wouldn’t recommend it. They would most likely rent a cheap carpet cleaner from a local grocery store that leaves a lot of water in your carpet and your place smelling bad, its best to let the professionals do that. You could put a clause in your lease that states you will hire a professional to clean the carpets and that cost will deducted from their security deposit. 

I will do that if the current resident keeps their place neat and clean, I'll usually offer them a $100 if they allow me to do that, your tenant pool is smaller, however I found if some one is looking that far ahead, they tend to be a more responsible person.. of course their are always exceptions.

It's a good idea to inspect your properties to minimize maintenance surprises. I generally do inspections 3 months after someone moves in and every 6 months after that. While I'm there I'll walk around the exterior of the building to see if theres anything that needs attention there..

I personally own property in the Harrisburg PA area and would recommend it, its been getting attention recently as an affordable market. 

Congratulations, sounds like a great buy!

I like most everyone else here am still buying if the numbers make sense when underwriting conservatively. Folks a lot smarter than me do not for-see prices dropping anytime soon because of the lack of housing supply and high inflation. In invest in the Harrisburg and Pottstown PA markets.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $83,000
Cash invested: $30,000

2 Units, first floor has one large 1bd 1.5ba with attached garage. Second/third floor 3bd 1 ba

What made you interested in investing in this type of deal?

It was in a market I already invest in and it needed repairs.

How did you find this deal and how did you negotiate it?

It was on the MLS and friend of mine had it under contract for 90K and wasn't able to come up with the financing so he said I could have it if I wanted. This was right after the world shut down so I was able to use that to negotiate it down to 83K. I also paid my friend 2K as a "refund" for the deposit he lost when he backed out of the deal.

How did you finance this deal?

Hard money, then refinanced and pulled out what I had invested into it with equity to spare which I used as collateral to purchase another property.

How did you add value to the deal?

Renovated the 1st floor apt, painted the exterior, built new porch deck, added boiler and some other small things.

Lessons learned? Challenges?

This project took several months longer then it should have. I guess the lesson would be to be sure to have a very clear scope of work for your contractor that includes a completion deadline.

Hi Slade, I'd be happy to share them. I would need your email address..