All Forum Posts by: Eric Greenberg

The only multis we do this for are MTRs that are furnished as the folks are there for transitional times/work, not for a LTR as it would be better to just lower the rent and not have the headache. 

Id find some local meet ups in the area and start going to them. Meet some of the folks and see if you can help anyone out and in turn shadow them for a day. Most rei folks love young folks super interested in the field. 

Eric, to me the maintenance of a humidifier is very low on the importance factor compared to everything else to be worried about on old rowhomes homes. I run one in multiple properties and have them all drain into a slop sink in the basement. Obviously if you need to drain the bucket then its a nonstarter as theyll fill up within a couple days during the summer. I also wouldnt worry about the electrical drain unless you are converting it to an MTR and paying electricity. 

Hi Jade,

Id start by absorbing as much info as you can and getting your finances in order.

If you plan to invest in Philly and/or want to talk with locals

https://www.facebook.com/groups/PhillyLandlords/permalink/

Im very confused by this thread then. Why are you interested in multis in philly then if you are so pessimistic on it? Also I wouldnt hang my hat on CBS news for if I should or shouldnt invest in a location. 

That is a huge area with lots of different markets. If first figure out what your goals are then drill down from there. Its hard to believe something isnt in this area that will work for you and your goals.  

Mostly Philly folk but there is a great Facebook group 

Philadelphia Landlords Connect
https://www.facebook.com/groups/PhillyLandlords/permalink/

Key to multis in philly is to 100% verify that they are legal. Many are not and the process to do so is tedious and may not result in a positive outcome. 

There are definitely ’barren’ areas of center compared to NYC like Market East but there are slews of huge projects underway throughout the city. 

Key is to really understand the areas you want to be in and your goals to make sure they align. There are plenty of deals but plenty of terrible ‘off-market deals’ too so be careful and become an expert or get someone on your team who is. 

I would only do a queen bed if you are renting by the room to traveling professionals. What percentage of the time  are you renting to families now? Most of our guests are looking for an office for WFH