All Forum Posts by: Crystal Dundas

I invest in Philadelphia. There are some risky areas on the outskirts of University City that can be profitable. In Philly's riskier areas, it's really block by block and you have to drive around and get a feel for the place imo.

in my opionion it really depends on what you are looking for in return. I try to cashflow at least $300 per unit. But it really depends what you think is sufficient for you.

I have a progressive late fee built into my lease. $5/day for every day after the grace period. I have one tenant who pays late EVERY month for the past 5 years and includes the late fee every month. She's stretched thin financially because she pays tuition for her son and likely manages her finances poorly, but she has never missed a month of rent. I agree that it feels better to just collect and collect on time. But if you're willing to work with someone who may not be in top notch financial shape, a late fee is a good solution for the inconvenience.

thanks for all of the helpful feedback folks. This was my first post to bp and super useful!

I've looked into the solar option. Apparently there is no tax credit for rentals.

Do both units have to have gas? Why can't I heat one with electric and the other with gas.

there is an electric heater in the other unit. Are you saying one unit can't be electric and one gas?

'Thanks folks. I tried the education route, and they still ended up ignoring my warnings. Sounds like the best permanent fix would be look into a gas line. I know the house had one previously so it might not be too much to convert back to gas.  Thanks guys.

Thanks Roberto

Direct mortgage loan company helped me do my first rehab.