All Forum Posts by: Dave Lin

There are a quite a few investors in the area. If you post your questions, I am sure people will chime in. Welcome to RE in the Lehigh Valley. 

So for single family rentals you can get a DP1, DP2 or a DP3. DP3 has the most perils covered. You will want to go with a replacement cost rather than actual cash value. You can read up on the 3 forms and RCV vs ACV. Will take 10 mins. tops.  You can also consider a higher deductible if you want to save premiums and use insurance for more catastrophic losses.  For Philly, I found Safeco typically has the most competitive premiums for landlord policies. 

@Scott Taylor that will be dependent on # of bedrooms. I got a 3 BD with one being passthru rented out for $925 in Allentown. Includes water. A screening tool I like to use in addition to the credit and criminal check vendors is the PA court dockets. Link below. You can input the name, DOB and dates you want to search for. It will pull out any evictions filed against them in PA, outside of Philly. Philly got their own separate page on the website. You can look around and find it easily. 

https://ujsportal.pacourts.us/DocketSheets/MDJ.aspx

@Scott Taylor What @Syed H. says. Allentown is very easy to get tenants. Now you will have to screen them of course, but you shouldn't have issues finding tenants. 

Hi @James Wise I own an insurance brokerage in PA and licensed in surrounding states. Will give you an add. See if we can help.  

@David Ribardo and @Kyle Keck are realtors in Allentown area. You can pick their brains about opportunities here. 

@Dante Campbell @Ralph Trinidad is a mortgage broker in PA. Looks like all your question is related to mortgages. He should be able to answer your questions.

@Nathanael Gonzalez That's awesome for starting so young! Congrats and good luck. 

@Vincent DeAngelis They do, I don't think you would have problems renting it out in my personal opinion. Lehigh Valley as a whole is pretty easy to find tenants. 

@Shin Bo if the rental properties are under your personal names, it's best to just call your auto insurance agent and get an umbrella over your auto, home/renters and your rental policies. Cheaper and will provide a more comprehensive umbrella. In Philly though, I rarely see people with the 250/500/100 underlying limits usually needed for the umbrella to go over the auto. If you only want it for your rentals, your agent can get that too. I have decent amount of clients in Philly and auto premiums I know are on the higher end.