All Forum Posts by: Eric Armstrong

Join the Delreia facebook page, if you haven't already.  A lot more action on there.  BP is great for general education, but not so much for local stuff.  Delreia Facebook is Great for local recomendations and networking.

Landlord here.  You currently in Claymont?  I grew up there.

Where have you chosen to purchase your rentals? Why did you choose that location? I’m looking for places out of my market. I’d like a place the isn’t too expensive and has good metrics for growth. Would need to have at least $300 net cash flow.

@Tamirah Jackson I recommend when reaching out to join a team, you mention what qualities/skills you can bring to the table, as opposed to asking them what they need. Or, you can pay for a mentor.

@Vincent Garman big baller presenting!!!!

@Corinne Bogan @Vincent Garman for your agent needs. Lives in and invests in Wilmington.

@Corinne Bogan hello Corinne and welcome to the DE RE community. It’s great, at your age, that you realize what you need to do for your financial future. Buying a place now with the opportunity to rent is a great strategy, especially with these mortgage rates so low. If you can find a multi unit, that would be ideal, but like mentioned above, they are harder to come by. I would recommend also consider the Little Italy, Union Park Gardens, and St Elizabeth areas. The DELREA FB page is a great resource for info and networking. Also, google “greater wilmington housing providers”, they are a Wilmington based landlord group. Most concentrated network of Wilmington landlords in the area. I believe they are having monthly virtual meetings at the moment. Very low yearly fee(maybe $40). Good luck and please feel free to reach out with any questions. Eric

@Kris Alexander 2 of mine were purchased and fixed up to some extend.  That was 3 plus years ago though.  Wilmington Prices have gone up for sure, but quality of tenant hasn’t necessarily.  You can still get the 1% rule in decent areas but there aren’t as many there used to be. Low income areas can still get 1.5% or an occasional 2%.  This is on market props.  There are off market stuff out there is you’re a good marketer.  

@Thy Nguyen be careful with the Wesley area. Students only live on one side of campus.  The other side is too rough. Literally one block from campus.  

@Kris Alexander honestly, there are much better markets to invest in IMO, although my rentals are in Wilmington. In you want cash flow check out parts of Wilm, upper new castle, Dover area.