All Forum Posts by: Dave Lin

Hi @Sean Tracey 

Depending on the flood zone it would atleast $2,000-$3,000. If the house qualify for as a preferred risk, it would be about $500. There are private options available too, you don't actually need to be on the FEMA program. The private options tend to be much less premium.

Hi Chad,

I use 10% for my vacancies. The 1 month leasing cost is fine.  Bethlehem city doesn't require the landlord to cover the trash cost, they make you responsible for it.  A little difference there.  So basically you need to make sure there is trash removal by setting up the removal service, but you can factor that into your rent or you can make the tenant pay it separately.  Sewer and Water I use $60-90 a month depending on the size of the family and laundry service. Insurance is also right up my alley (see my main job).  I would factor in $500 to $750 a year for a 180k house depending on the insurance company.  Bear in mind this is a rough estimate based on my and my clients experience for the Bethlehem city area.  You should get a quote to make sure.  

@David M.

For Multi-units, less than 4 families, I use Safeco or The Philadelphia Contributionship.  The loss of rent coverage is pretty standard on normal Dwelling Fire policies.   You can see if you have a local broker who have access to the two carriers, or I would be happy to get a proposal to you.  Good Luck!

-Dave

good luck and welcome!

Lower Macungie and North Whitehall would be a good area to start as quite a few of the medical professionals live in these 2 areas.

@Thomas N Dowling If the current market is depressed, maybe a buy and hold then flip when market gets better?  I guess the New Yorkers aren't moving to the area anymore or not as much?  

I am actually part of the DLP investor meetup on meetup.com.  Think it is the same seminar.  We have a few investor clubs in the area.  Most of them you can find on meetup.com.  There is also a seminar hold by KW Williams in Allentown once a month.   The thing with me is I am only available on the weekdays and during the normal work hours for these seminars.  

@Thomas N Dowling

Hi @Thomas N Dowling,

Welcome to the site, sounds like you are off to a good start.  How is the market in the Poconos?

 Hi Joe, you can add me to your list.  I will pm you my email.

Hi and Welcome.  I am located in the Lehigh Valley, so a short drive to the Poconos.  

Someone had actually posted a thread a month or so back with those info.  Here it is:

https://www.biggerpockets.com/forums/92/topics/256963-property-managers-management-lehigh-valley-allentown-bethlehem