All Forum Posts by: Brad Glenn

Welcome @Greg Behan, would love to hear how rehabbing goes over in Bucks County. Beautiful properties there, much higher price point than what I'm accustomed to, from my understanding. Sounds like you're already making some good connections here.

@Michael B. well said. I'm certainly taking more risk with leverage on properties than I would if I had enough cash to own them free-and-clear. But I believe the potential long-term benefit warrants those risks now.

@Walt Payne your approach sounds great. But it will only provide asset protection (the solid ones protected from the "riskier" ones) if you do not personally guarantee any financing, correct?

As an alternative approach to letting the properties cash-flow once paid off, someone recently shared their approach - they have essentially 10 properties, every year they re-fi one and live on that amount, the property still cash flows with the rent covering payments and all expenses, and he then doesn't have to pay tax on almost any of it because most of the income from the property is converted to tax-deductible interest. Does that really work?

@John Schmiesing thanks for the input, very helpful. I'll reach out via PM to coordinate a time to meet-up.

@John Schmiesing I'm happy to take this off-line, but thought others in the York area might appreciate and even want to jump in. I'm going to be looking at a bunch of properties (mostly SFR/duplex) in the York area, but not in the city (West York, West Man Twp, Spring Garden, Springetts, North York... I think that's about it). Wondered what you (and anyone else) think about buying properties in the York area - is buying in the city worth it? Any input on these other surrounding municipalities? Any feedback on any of the schools?

I'm new to the York market, but considering expanding into it. I've bought only in the Harrisburg area (again, only outside the city), and in Carlisle.

Would be happy to meet up for coffee when I'm down looking at properties Thurs or Fri next week.

I appreciated the post, and much of the subsequent discussion. I'm fairly new to BP, trying to spend 1/2 hour or so on couple times a week. Better than college!

I've partnered on many of the deals I've done, and it's been much more rewarding than those I've done on my own. Sounds like there is great networking happening here. Already learned a lot.

@David Helman

Looks like you were able to sell this deal back in January at a decent price (in my opinion). Congrats!

@Andre Dillard

What's making you leave the area? Just curious - I've found success investing here.

Just reading through this post now, but super encouraged by the discussion. I've been a partner on 13 purchases and rehabs in the last 2 years, all buy-and-hold, and we've chosen to purchase all in our personal names, and I'm frequently asking myself if that's the "right" thing. Mainly for liability and asset-protection purposes. Several attorneys I've talked with have advised that $1 million liability policy will cover 99% of any liability risks I'm exposed to on SFRs. Question is am I comfortable with the 1% risk.

One other "buffer" is that many of the properties I'm involved with I have a co-owner on the deed, so those properties are somewhat protected from liability from other properties on which they are not owners.

I love the idea of putting properties in different entities and "shutting it down" if something goes south and continuing on with my other entities. But if I'm signing personal guarantees on them all, I'm still on the hook personally anyways, I think.

PS - My very first post on BP. :o) Finally took the plunge. Thanks for reading.