All Forum Posts by: Hansel Akers

Beating a dead horse here, but this is incredibly informative and definitely reduces a good bit of my analysis paralysis.

Awesome work on your first BRRRR and appreciate the thorough details and lessons learned.

-Hansel

@Cameron Riley

Where’s the rehab?! Congrats!

What areas of Lancaster City are people targeting?  I am originally from Lancaster, PA but need to gather more information on neighborhoods in the city.  I have typically been primarily evaluating properties near the train station (commuters) and LGH (nurses/doctors). 

Thoughts? Thanks everyone. I have one property in Reston, VA. Live in Philly- so evaluating here in Center City, but also very interested in Lancaster primarily because of the lower barrier for entry on down payments (not all of us have 10s to 100's of thousands of dollars sitting around) :)

Looking forward to hearing from everyone!

-Hansel

Hey all.  

Thanks to you all for the information and responses.  After being swamped with a couple different jobs (start-up life), I have an update to provide!  

I have continued to rent out the place in Reston, VA and it has appreciated at an impressive rate (which was what I anticipated and biggest reason for keeping). The rent continues to grow as well! Currently renting at 12% over mortgage + condo fees combined. The extra costs I am throwing right back into my mortgage towards principal and my mortgage is dropping quickly. The value of the condo has also appreciated at about 4% per year as well.

Another update: I am now heavily involved in tracking down my next investment property with my fiance.  We are evaluating Pennsport, Pennsport/Passyunk, West Philly and my personal favorite as of now (outside just investment opportunity) is East Falls.  I am not looking for a flip, rather a buy and hold so I think both West Philly and East Falls could be awesome locations for student housing rentals down the road.

Does anyone have any info/best practices on updates to rentals?  Flooring, kitchen cabinets, etc.?  Affordable / durable (waterproof) / value increasing?   As I see it I don't need much now but as a novice in the landlord realm, I am always willing to listen to some advice from the experts!

Thanks again everyone for the responses.  Joe-- looks like you are in the Philly area as well.  Hopefully we can connect!

-Hansel

Hi everyone. I am 25 years old and a little over a year into my purchase of a condo in a very expensive, fast growing area. Although I have been saving up for a little while the funds will be used for relocation to Philadelphia, PA. The rental property is in too good of a location to sell and make a small amount of money, so I want to keep it and rent it out. I want to also avoid the unreasonable property management expenses. Any advice on this matter? The rent will barely cover all that I am currently paying: Mortgage, Condo Fees, HOA. So I want to avoid using an entire month's rent on a property management company.

Any advice would be awesome!

Thank you all