All Forum Posts by: Christian Paluzzi

My partners and I are looking to move into the Huntsville market and acquire +/-100 unit garden style B-/C+ complexes with value add opportunities to provide attractive returns to our investors. We would love to make some connections through this excellent community and are looking for broker and title attorney recommendations!

I have serious concerns for my properties as well due to the new assessments.  One property in particular has 4 years left on abatement but the 2019 assessment is 243% higher than 2018's, and all of the other houses on the block show similar assessment increases.  Without the abatement, my tax obligation would have gone up $4700 this year.  Judging by the article posted above and my investigation of assessed values in the area it seems like I am along for the ride without any recourse.

@Steve Bullock, I second that.  25% required for 2-4 units with conventional loan products.

Welcome to BP @Josh Kravets!  Having just purchased two student rentals at Temple, there is alot of activity and alot of good people in the city, but also a ton of knowledge on the forums.  Make sure to use the "Events" feature under the Network tab to find meetups in your area, it has definitely helped out here in CA.

@Account Closed is correct, the city has a current initiative to reassess values on every property within its limits which is significantly changing assessed values and taxes.  The 19121 zip around Temple for example saw assessed values (and subsequent taxes) nearly double at the last adjustment. 

I have interest in Germantown as well, and though I do not have much experience with the immediate area, my investor-minded realtor has recommended staying near Germantown ave on the Mt Airy side of town due to increasing development.  Dissenting or agreeing opinions welcomed!

@Ohad Behore I used the same inspector on my last two purchases in the city and ran into issues within the first two months of ownership stemming from overlooked items on the inspection.  This may have been due to inexperience on my part (and I am out of state and was not present at the inspection for what it's worth), but I would not use this inspector again.  In the interest of tact, PM me if you would like the name of the company.

Also in for an update on the Germantown market like @Cliff T., I purchased a couple of student rentals near Temple earlier in the year and I am considering Germantown next as I like the variety of homes (it does not seem to be block after block of identically laid out rowhomes).

I apologize if this is hijacking, but I live in California but have two rentals in Philadelphia; would it be wise to use a Philly area CPA for tax purposes to make sure the person is savvy to the specifics of the area?  If so, I am subscribing to this thread in hopes of a CPA recommendation.

My thought is that people may start moving into Port Richmond as Fishtown continues to rise in price, but that may be 5+ years away. At least on the MLS, nicely finished 3/1's in 19134 are being listed for ridiculous prices (250K) and sitting for months, so people seem to think buyers will pay Fishtown-esque prices but not getting it.