All Forum Posts by: Dana Waller

Collecting some data and would greatly appreciate your help! It seems like the one thing you can count on is that during a rehab, something will go wrong that will increase your budget. 

What is the most your construction budget has increased because of unforeseeable issues? Has anyone had their budget double? Please comment with a percentage. 

Thank you for your help and participation! 

I’m working on a project and I’m hoping some of you will be willing to help me collect some information.

I am seeking to find out about mistakes you have made in real estate that have led to positive results. This could involve any aspect of the real estate process from buying a property to renovating to renting it out etc.

If you are open to helping me, please feel free to send me a PM explaining the following:

1. Explain the mistake that was made.

2. What was the positive result and lesson learned?

3. Why are are grateful that the mistake happened?

Thanking you in advance to anyone who is willing to help me collect this information!

@Tom Donnelly thank you for sharing this inspiring story! I’m just getting started investing and I’m looking to adopt a very similar strategy. I live in NYC and have been looking for alternative markets to invest in. Great to hear that long distance investing is very possible!

@John Teachout I suppose it's possible, but my hunch is that it's probably more of what Troy mentioned above. Appreciate the feedback though!

@Troy Sheets very helpful information. Thank you for this!

I am looking to invest in Philly and I've been finding several homes listed as multi-family but they only have 3 bedrooms and 1 bathroom. Is this because they are zoned multi-family but were never set up that way? It seems like this is fairly common but I'd love some insight. What would need to happen in order to convert a home like this into two separate units? I know each property is different, so I'm just looking for any information from anyone who has come across this before. 

Many thanks!

@Sean Sloop really appreciate you sharing your story! As a new investor planning to BRRRR as well, it's SO helpful to hear stories that don't always go exactly how they're intended. I know my first few deals will be huge learning opportunities as well, and I really admire your boldness to share and to keep going! Lots of luck on your next deal!

@Justin Brown Thanks for sharing the info on the meetup! I'm looking to get started investing in the Philly area (and open to the outskirts as well). Is the meetup specific to Allentown? Or do people come from all over PA? 

I'm a new investor from NYC getting started in Philly! I'd love to connect with more women investors! 

@Brendan Markle Thank you for the neighborhood suggestions. I'll begin researching all of them! I'll send you a message to connect and discuss further.

@Shawn Mcenteer I really appreciate the insight into North Jersey and I think when I'm a bit more advanced I'll branch out into investing there. 

@Nicky Lisewski Really appreciate all the info! My goal is to BRRRR which would require a rehab so I've been doing a lot of research on the process as a whole, the teams I'll be looking to build and long-distance investing. While it does seem like an added challenge to begin in an area that isn't within an hour of where I live, I can get to Philly whenever I need to be. While rehabbing from afar is a challenge, I think it will be necessary if I want my strategy to work. I'll definitely be getting a property manager and am in the beginning stages of establishing a great team. I look forward to staying in touch and keeping the conversation going.

@Sheryl Sitman Such great information - thank you very much! I've been spending some time reviewing Philly's geography but still have my work cut out for me. It definitely takes time to learn an area especially when you don't live there. Still, I appreciate all of the suggested resources and am ready and excited to dive in. Looking forward to keeping in touch.