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All Forum Posts by: Chris Richetti

Chris Richetti has started 0 posts and replied 17 times.

Post: Looking to network with contractors in Delco County

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11

sent you a DM

Post: Seeking Guidance/Information on Section 8 Rentals

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11
Quote from @Catherine McElwain:
Quote from @Chris Richetti:
Quote from @Catherine McElwain:

We have one Section 8 Property that has worked out well for us. The property is in Chester County - however, Chesco is no longer allowing new properties to become part of the program, and are offering no new vouchers to people due to funding decrease.  Your first step is to contact the housing authority for the county of the property and ask about getting started.  They send you a bunch of paperwork, the house needs to be inspected, and then it can be cleared to rent.  Be choosy with your tenant!

There are 2 episodes on the Bigger Pockets podcast that were helpful for us - #356 and #575.  

 Hello, Chester County Housing Authority has a surplus of housing voucher holders waiting to find units. Chesco is constantly looking to add new properties to offset the surplus; we added 5+ units within the last month.  They usually have a lottery once a year to add one new voucher holder. If, for some reason, they can not get a voucher, there are plenty of other nonprofits in the area that are willing to help.  If you need help with the process, feel free to message me.


 We received a letter from HACC within the past 2 months stating that there would be no new vouchers and no new properties - I checked the website and it says "open with exceptions."  Maybe we misunderstood the letter?  


 I received the same letter. There are so many voucher holders currently looking for places. Call Safe Harbor in West Chester and ask for Gerome Gray, he always has clients looking for a place. if you have any questions feel free to call my cell (484)947-7932

Post: Seeking Guidance/Information on Section 8 Rentals

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11
Quote from @Catherine McElwain:

We have one Section 8 Property that has worked out well for us. The property is in Chester County - however, Chesco is no longer allowing new properties to become part of the program, and are offering no new vouchers to people due to funding decrease.  Your first step is to contact the housing authority for the county of the property and ask about getting started.  They send you a bunch of paperwork, the house needs to be inspected, and then it can be cleared to rent.  Be choosy with your tenant!

There are 2 episodes on the Bigger Pockets podcast that were helpful for us - #356 and #575.  

 Hello, Chester County Housing Authority has a surplus of housing voucher holders waiting to find units. Chesco is constantly looking to add new properties to offset the surplus; we added 5+ units within the last month.  They usually have a lottery once a year to add one new voucher holder. If, for some reason, they can not get a voucher, there are plenty of other nonprofits in the area that are willing to help.  If you need help with the process, feel free to message me.

Post: Seeking Guidance/Information on Section 8 Rentals

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11

Hello,

Chester/delware County Property Manager with 40+ units of Housing Authority voucher (Sec8) tenants here... Any building can be rented to the housing authority if it passes their inspection and you have a tenant willing to stay. Depending on the area, renting to the housing authority could be more profitable. Delaware and Chester counties release documents yearly that show what their "payment standards" will look like based on area code. This makes it easy to see if you will pull a monthly profit. However, your initial payment and security deposit may take some time before it hits your bank account. For example, once you find a tenant you have to wait to get the RFTA approved, once approved they can schedule the inspection, if the inspection fails you will have to complete all the work and reschedule. Once the inspection is done, you will have to wait to collect a security deposit from ERAP.  All this takes time and eats away at any profit. The best part about the housing authority is that there is a guaranteed payment, and they have programs to help with any tenant damages upon move-out. Feel free to DM me if you have any additional questions. 

Post: Property Manager Referral

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11

Hello,

I operate a full-service real estate firm in Delaware County (Aston, PA). We help clients buy, sell, invest, and manage their investments. Currently, we manage around 200 units in Delaware and Chester County.

I would the opportunity to help! Please feel free to review our site/ google reviews.

Website

Google: https://maps.app.goo.gl/fWJqGCwWyGKAjnnv8

If you have any questions please feel free to reach out to me directly. 

Post: Need contacts for GC around Delaware County

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11

Property Manager in Delco that has a Construction Company here! www.CorePMRealty.com or GC is Scott (610)212-6636  Feel free to reach out and pick his brain!  

Post: Rookie trying to find a neighborhood to invest in

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11

Connect with a local real estate agent or property management company to determine what fits your budget and risk tolerance. If you look outside the city (Delaware county) we could help with both! 

Post: New investor looking for a duplex in Philly

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11
Quote from @Eric Greenberg:

Hi Stephen,

Welcome! There might not be much right now but $600k for a 2-unit in a nice area is very doable. Ive bought a few that needed work in up and coming solid B areas for much less (in & around Fishtown). The key is finding an area that fits your needs and driving around & walking are great ways to figure that out. 

Key things, new construction around here doesnt equate to quality. Id personally rather have a gutted/renovated brick row home than a new fab construction unless I knew the developer. 

Make sure the property is actually a legal duplex. Many many properties are sold that have been rented out as 2-units but are illegal. 

Happy to talk in more detail via DM if youd like. 


 Hello real estate agent property manager local investor in Delaware county. There are multiple duplexes triplexes and quads in Delaware county for under 600k. They move pretty quick so you have to have all your ducks in a row... if you're interested in seeing some numbers, I sent you a DM. 

Post: Referral for Philly area PMC

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11

Hello, we are a property management company located in Delaware county PA.  We would love the opportunity to discuss this further with you.

Chris Richetti

www.CorePMRealty.com/services

(484)947-7932

Post: Local Banks/Credit Union Suggestions

Chris RichettiPosted
  • Real Estate Broker
  • Glen Mills, PA
  • Posts 29
  • Votes 11

Trumark or Bryn Mawr trust are both great, local banks.

Brad Barone
Assistant Vice President, Commercial Loan Officer
TruMark Financial Credit Union
335 Commerce Drive
Fort Washington, PA 19034
Phone 215-953-5300 Ext. 5412