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All Forum Posts by: Chris Price

Chris Price has started 5 posts and replied 47 times.

Post: possible first purchase

Chris PricePosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 51
  • Votes 9

Running those numbers as is, I got $232/month (second insurance number as cap ex and no lawn care cost).  37% cash on cash return.  Seems good to me.  Is $1800 a conservative estimate on rental income? Did you do your comparative analysis? 

What do you hope to get out of property management? Whenever I called the property manager for my landlord, they would just call her.  When it came time for me to buy an investment I decided to manage it myself, and its worked out so far even though I have a lot of tenant and maintenance issues.

Post: Advice on my father's turnkeys in Memphis, Dallas, and Philly

Chris PricePosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 51
  • Votes 9

My mate bought a quad in SE for $350k on the far side of the Anacostia. He put some work into it, but it was just deferred maintenance.  He kept all the original tenants. 

This was 4 years ago or so though. Closer than Phila. Don't get me wrong- there are great deals in Philly and we'd love to have you. 

Post: Advice on my father's turnkeys in Memphis, Dallas, and Philly

Chris PricePosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 51
  • Votes 9

Why not buy fewer units that net the same percentage?  If the percentage is the same, he'll be making the same amount and have less of a hassle factor to deal with in terms of renting them out. I'd rather have one quad with one roof, one lawn, etc. in an area I could get to in 45 minutes of beltway traffic.

Post: Need some assitance analyzing this deal!!!

Chris PricePosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 51
  • Votes 9

@Sagar Naik What sort of return are you looking to make? If you have that first, it can help guide you in your search. For a first investment, you might find it harder to learn about being a commercial and residential landlord at the same time. Something to consider.

Post: Online sources for potential multiunit property

Chris PricePosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 51
  • Votes 9

@Sagar Naik Is there a reason you are not getting your agent to do a search for you on the MLS? I'd be happy to do a search for you in PA.

Post: Converting from month-to-month to 12-month lease

Chris PricePosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 51
  • Votes 9

@Claire McGuire- What did you decide to do? 

Post: Selecting a Broker/Investor To Work with

Chris PricePosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 51
  • Votes 9

Who did you go with and why? How have things been going for you over the last year?

I read the "Your First Year In Real Estate" and found that it had a lot of good questions to ask, and had good suggestions about how to approach the process.

http://www.amazon.com/Your-First-Year-Real-Estate/...