All Forum Posts by: Dan McCarthy

Hey everyone - I have an area on my farm that I leveled and spread clean 2b stone for equipment storage, trailers, etc. for my own stuff but I was approached by a local tree service that just lost their long term storage area. I plan on leasing the parking area to this guy for a few months until he can locate a long term solution and wanted to see if anyone had a rental agreement that would fit this with liability waiver language for his equipment, etc.

Thanks in advance as always!

Dan

Hey everyone - Looking to add a property manager for some units in Boyertown, PA and wanted to see what recommendations came from this group. 

Thanks, 

Dan

@John Underwood The plan would be to choose the best location, probably down by our creek with a fire pit, then build an elevated platform for the canvas tent to sit on so there would be a small 'porch' to sit on outside of the tent. My initial thoughts were to have a bed frame with a nice mattress, solar lights, adirondack chairs, and possibly a small wood stove within the heavy canvas tent. Really just providing a nice comfortable place to sleep and hang out in the woods and also provide smores supplies and firewood. Just a few thoughts off the top of my head but wanted to get some other opinions before diving in.

Hi everybody, my wife and I have a 30 acre farm that is split 50/50 between open pastures and woods/creek. We're thinking about what we can do to monetize some of the outdoor areas and heard the 'Glamping' idea on one of the recent podcasts. We have a few areas that would be perfect and should attract renters pretty well but wanted to throw it out there for those of you that have done it and what you'd recommend to look out for, what to buy, and any other outside the box ideas. Thanks in advance!

Hey everyone, 

Does anyone know of a good place to find discounted appliances in Southeast PA? Seems like a lot of the smaller appliance repair places are going under and many don't have websites. Any help would be appreciated!

Recently purchased a 6 unit building that has one central oil boiler that provides shared heat for all units with one zone. A friend had mentioned installing a thermostat by Honeywell that has 4 - 6 sensors that report back to the thermostat to then try and average the units and come up with the appropriate thermostat setting to keep all units where they should be. Has anyone heard of this or can recommend a better solution for this short term? Long term we are looking at possibly going with mini-splits on each unit to be able to pass the utility to the tenants and also provide A/C. Thanks in advance for the help!

Hey everyone, 

I'm working on a promissory note for a private lender and the deal is that he will lend us the funds needed to purchase and do a light rehab on a property that we have under contract at a good discount to market value. My question is, how should I word the repayment portion to reflect that the principal and interest will be repaid once the property is refinanced since the banks are taking a long time to close these days?

Here is what I have so far and I welcome any thoughts or suggestions.

1. Repayment. ­All principal and interest, together with any costs, payable under this Note shall be due and payable to Lender at the time of the closing of bank refinancing of property.

Thanks!

Dan

What is everyone seeing out there these days for rates and terms on private loans? I figure with the current state of the fixed income market, yield is getting pretty hard to find for a lot of people and lower rates on private lending should be starting to look more attractive. Just want to see what the market feels is fair right now. I was thinking short term (less than 3 months) would be 8% and long term (3 month+) would be 6%.  

Let me know your thoughts!

Firing up this old thread again to see if anyone has any great General Contractor recommendations for projects in the Montgomery, Chester,  and Delaware counties in PA. Looking at projects that could range from cosmetic (paint, carpet, appliances) to full gut/building shell rehab. We have one group we work with currently but would like to bring in another to support a few more projects we're looking to move on soon. Feel free to reach out directly or post here!

Hey everyone - Looking to purchase some distressed multi-families in SE PA and BRRRR them as long term rentals. Anyone have any HMLs with good rates you'd recommend working with? Also looking for any general contractor referrals as well that can handle cosmetic rehabs or complete shells/rebuilds. Focusing in the Collingdale, Ridley Park, Springfield area. Let me know who you think is great!