All Forum Posts by: Dennis Walter

Josh, great job on this project!  I remember walking thru the place during demolition thinking about how much work you had ahead of you, and I am glad you were able to complete such an amazing transformation!  Can't wait to see what your next project might be!  For anyone out in the BP world that is around the State College area: Josh and his wife are the real deal and are doing things the right way!  Glad to have them in my neighborhood doing projects like this!

I am thinking more along the lines as Marian, where you will be saving more on the down payment and interest rate by owner-occupying the home rather than it being classified as an investment.

I recommend Anthony Snare & Associates, by the way if you are looking for a local lender.

Hi Linda!

I am familiar with the Altoona market.  It is near right next door to my hometown, and I currently have a 5-unit building in Altoona.  What area of Altoona is it - what's the address?  $60k sounds like it is right in the mix for Altoona, sounds like a typical home in altoona built in the early 1900's, and 3% seller assist certainly helps at closing.  The cracks in the walls are likely just old plaster in need of repairs.  Take a peak into the basement to see if you see any major cracking in the foundation walls or floor joist problems for peace of mind.  

Do you know exactly how much you will be saving, annually, if you receive the Homestead exemption?  I can't imagine it will save you any more than a couple hundred dollars a year on the real estate tax?  

Welcome to BP!  I'm a fellow Penn State grad, and very curious to hear more about your 6 rental properties and your experiences with your investments around the State College, PA market!  

https://www.facebook.com/centrecountyreiclub/

The Facebook page for the Centre County REI club looks to be updated more frequently than the wordpress website.

@Jay Barndt I agree with @Josh Parra on working on the credit score. He mentions Credit Karma which I use to monitor my credit with too. Josh is also correct about the local REI meetings:

https://centrecountyreiclub.wordpress.com/

I have not been to any of the meetings yet either.  

Good luck and welcome to BP!

Welcome to BP and welcome to State College!  Nice to see another State College local on BP!

Hi Andre, I have interest in those markets also. I currently have a condo in Cresson and a 5-unit building in Altoona. I'm from Hollidaysburg and live in State College. What kind of information are you looking for? I'm willing to share information and would be willing on collaborating on investment opportunities. Thanks Dennis

Is anyone that current owns a Single Family or Small Multi-family rental property in State College, PA willing to share with me a summary of their operating costs and the type of property and # of units?  I am evaluating a few potential opportunities in the area and am hoping to get an accurate estimate on operating costs.  Any help would be appreciated!

Thanks,
Dennis

Matt Welcome to BP 1) LLC is probably not important for you at the time being from all that I have gathered. You can get insurance and an umbrella policy instead to provide you with protection. But this is better to be answered by someone with more expertise and maybe you should consult a good CPA with real estate investment knowledge and experience. 2) This also depends on your situation. I would lean towards the second choice of better terms and better cash flow. Remember that loans are not bad and it's good debt if they pay for themselves by resulting in positive cash flow from the investment.