All Forum Posts by: Gennaro Adamo

Thanks guys! Is there any specific website I can look at for 3/4 unit properties just to get an idea?

I currently have one rental property that I purchased last year that's cash flowing well for me. I'd like to move on to a multi-unit investment next. Location isn't too big of a deal for me but preferably somewhere along the east coast or midwest would be good. I'm looking to find something no more than 400k. I know this is very broad but if you guys can just throw locations out there that fit my price, I'd greatly appreciate it. Thanks!

Hi All,

I just purchased my first rental property in the 18102 zip code of Allentown, PA. Being from NY, I had to get a property manager, and they charge 7%. It's a 4 bed 2 bath, with $85k purchase price. My mortgage is about $600. The property management company got me a renter within a week and the rent is $1200. Since this is my first property, I was wondering if those numbers seem ok. The roof is only 5 years old, which I was happy to hear. Also the house was in fairly good condition, so I just put about $2k in work in.

Another question I have is are there any other areas of PA (about 2-3 hours from NYC) that are good to invest in with prices of no more than $90k? I know it's a cheap buy price and won't really be in a great area, but thought I'd ask. I saw Reading and some parts of Philly, but from research those seem to be really rough areas.

I'm from New York but looking to invest in Philly. I was looking in Kensington as it's in my price range of $80k but not sure of the neighborhood. Are there any neighborhoods you guys recommend for a single family rental property under $80k in Philly? Thanks!

I have a cousin in Philly who has a couple rentals and knows some contractors, so I'm not too worried about that part.

 Sorry for the confusion, I'm looking to put 16k down on 80k home.

Hi All,

New investor here- I'm from NY and looking to BRRRR somewhere in PA and have a few questions. I'm a total newbie at this so please bear with me.

I'm looking at SFR and looking to spend no more than 80k after repairs. After some research I've narrowed down the areas to Philadelphia and Allentown. If there are better rental investment neighborhoods within a 2-3 hour drive from NYC, please let me know!

Now come my questions...

I would like to put 20% down on a property, so that leaves me with an 80k budget. Is that enough for a rental property? Should I save a little more?

Can you include the repair costs into the mortgage?

Philadelphia is big and some parts are affordable for me and some are not. Do I want to risk investing in the affordable neighborhoods like Kensington, Hartranft, etc.? Is it worth it to invest in these neighborhoods?

If anyone can provide any help with my newbie questions, I would appreciate it. Thanks!