All Forum Posts by: Glenn Russo

 We actually sold that property at 450k a few months ago. The unit did well, but was our least performing property in the portfolio. 

That property propelled us to grow a STR company where we own/manage 17 listings now.

Hit me up if you want to chat

Hey Everyone! I was out of the country for 3 weeks and dropped the ball on wrapping this prior to leaving. 

Thank you all for the responses and messages. I will be in touch shortly. 

Thanks!

Glenn

Thanks all, ill be in touch!

Hey Everyone, 

Looking to find an agent in the Philadelphia area who is investor friendly. Currently own 5 doors including one successful Airbnb unit. The goal is to buy another multi family in the short term and grow the airbnb business. 

Thanks in advance, 

Glenn

Thanks Brandon. April is our first full month of Airbnb. We are currently at 60 percent occupancy. We need about 25 percent occupancy to cover the mortgage. Anything more than that should be cash flow :) - May and June occupancy is already at +35%

Heres our shared album for the live in rear unit reno. (Coffee maker in full use in the bathroom)

https://goo.gl/photos/NGrRLe4dca57zLnj7

Timeline is this... Bought the duplex in November, moved into rear unit in December. Reno'ed the front, started rear reno last week. We plan to stay here for at least a year. Refi to owner occupied should take place in late May.  

Hey Shantavie - I saw the property pop up on my MLS feed and put in an offer that day. We chose manayunk mostly because of the smaller town feel while being close to the city. I also work out in the burbs so shaving some time off the commute was also a factor.

Brewerytown is an area I'm very interested in. It's come a long way and I think has a long way to go. We just didn't want to live in that area right now. 

Feel free to take a look at our pictures. 

https://goo.gl/photos/wZKuP9HSiwPYW9Tx8

Just an update here. 

We finished the front unit and decided to make it a AirBNB property. It's been about 2 weeks and we have 2 five star reviews so far. The unit is already booking at a 45-55 percent occupancy rate for April, May and June. At this current OR, we are already cash flowing more than what the unit would rent for. We've made the process fairly easy with keyback locks and I pay the GF to clean the unit. 

We started demo and reno on the rear unit this weekend (We live in this unit and are currently house camping!) We are slated to finish the renovation by mid May, which is our 6 month mark. From there, we will cash out refi somewhere between 50-80k. 

Next goal is to find another property close by in Manayunk and repeat the process. 

Hey Patrick! Welcome to the BP club! I'm fairly new myself, but can definitely relate to the beginning of your story. I live in Philly (and actually work out in Malvern) and have about 3 properties - Looking to expand more. Let's sync up.