All Forum Posts by: Christian Malesic

Prices are still over-inflated here in Harrisburg, Pa as well.

The Realtors and sellers just don't get that the run up was artificial and the correction is upon us. Things are sitting on the market forever.

I am not agreeing OR DISAGREEING with MikeOH. I am trying to make the point that a mini-analysis or quick computation of any kind is not acceptable, in itself, to close on a deal.

MikeOH has made his point many times on many threads. It FEELS right. I don't know if there is hard data to back it up, but my experience would agree.

Just DO YOUR RESEARCH. That is what I am pushing here.

There is such a thread

How to Research

That is a HUGE Point.

In PA, independents basicly sit the primary election out. They may get a chance to vote up or down a referendum once in a while, but our state is not huge in that as compared to, say, California.

Many elections are all but determined in the primaries since (a) cross-filing is allowed, meaning candidates run legally as both a R & D and (b) a lot of candidates run a write-in campaign in the opposite party.

An independent in PA is essentially taking themselves out of the political process, especially for LOCAL elections.

Being hands-off and letting them do all the work. Inspect don't expect.

Let's be clear...

The 50% rule is a quick analysis. It helps you to determine if you should even consider further research into the proposed property. We use a similar formula and call it the "Mini Analysis".

If a property passes the mini. We do a driveby, then a walkthru, then start crunching numbers and reviewing tax docs. If it does not even pass the mini we quit and move on.

MikeOH hits the nail on the head...

An easy to remember phrase for the future:

"Inspect don't Expect"

Excellent!

You will fit in nicely around here. Look around. Check out all of the forums. There are a number which fit your goals.

Welcome to BiggerPockets!

Good luck in your mentor search. Here is certainly a good place to start your search.

Wow.

I think even your question has you starting off too big. How about 2-4 unit buildings. Most of what we own are 2 units with a couple of 3 units thrown it.

You buy 1 or 2 of these at let it ride for 6 months to a year. This will give you the landlord feel.

So many folks jump into the landlording business with dollar signs in their eyes. When they find out it is real work, they bail. It is better to bail on 1 building or 2, that is smaller and easier to sell than it is to get into a 5+ unit.

For the record, 4 units and less play by different rules than 5 plus units. This is true at banks, insurance agencies, and sometimes even real estate agents.