All Forum Posts by: Chris Miller

Great insight! Thanks. I guess I will look into PM costs and weigh my options. Yes, I have access to a good handyman and a few trades

I've read Josh and Brandon's "how to invest in RE" been following a lot of the forums and have spoken to about 5 REI friends. What books do you recommend?

Here is what I know: annual taxes ar $3063, tenants pay all utilities except trash and sewer (have call in to find out those costs). List cost as $83/sq ft, but not sure if the separate rented garage is counted in that.  All gas furnaces are newer, but I don't know specifics about any of the other mechanicals.  Vinyl siding, built 1920.  I need to find out what a PM would cost, obviously...  I have a call into my realtor out there (also my niece).

Hi,

I am brand new to RE investing.  I live in suburban Philly and want to learn as much as I can to a few seasoned veterans willing to share their knowledge.  I'm pretty sure I want to get into multi-family units, but always willing to hear your thoughts on the pros and cons, along with other options.

I came across an option in a good, small college town, but it's 1.5hrs away.  Multi-unit (3 +garage) that presently brings in $2050/mo (all month-month leases presently). Mortgage $816/mo. Worth looking into via 50% rule.  Will need to check the bones.  Anyone do a long distance rental with their first investment? I am thinking I will need a PM as I work full time. Advise???

Excited to begin the journey

Thanks!

Chris

Andrea,

I live in northern suburban Phila.  Taxes vary greatly depending upon the area.  Districts with good schools and decent taxes are: Plymouth/Whitemarsh and Wissahickon in my area.  Districts with pretty high taxes are: Upper Dublin and Cheltenham.  Check out the various county websites for millage rates.  That should also help.

Chris