All Forum Posts by: Jake Arnold

@Jacob Plocinski thank you Jacob. How strong do you think our market is? Are people moving here or moving away? It’s hard for me to see. I see the webstraunt store moving in town and Marr development on lightstreet. Do you think people want to live in this area and do you think there’s a job market strong enough to support them?

@Lina Bibikov thank you Lina. I hope to eventually move on to different markets and learning how to long distance invest would be beneficial. I hope to have all the properties I acquire managed themselves at some point. Maybe I can work on some of those methods as you mentioned.

I live in Bloomsburg, PA. It’s a small college town. Population 14k or so. I currently own a Duplex student rental. The colleges enrollment prior to COVID has slowly declined. With COVID who knows.

I moved here two years ago when the company I work for bought out another company in the area. I agreed to 5 years with the company, 3 left. I’d like to buy more property and build my portfolio but I’m afraid of buying anything else in my area. I think they rely to heavily on the university and if that were to go the town would follow.

My question: what should I do? I want to acquire more properties, learn more and do more but I don’t want to build a portfolio in a location that doesn’t benefit long term goals.

@Nathan Smith go for a semester and try it out. I dropped out after one semester because it wasn’t right for me. However, it may be right for you. I also own student rentals in the central PA area so your you’re going to school there let me know!

@Jake Drappi the tenant moved out the day of purchase. I’m not sure how laws are right now but I had the option to terminate the lease upon purchase in August. I would request rent payment history.

@Jake Drappi hey Jake. I bought my first property, a duplex two months ago. You have to take risks in my opinion. No condition is ever going to be perfect. At worst if I lost everything I’d still be ok. I guess it all boils down to you’re gut feeling. Each state and city is different.

Peoples will always need affordable housing so that’s what I went for.

@Carlos Medina you’re from Lancaster? I’m from bloomsburg. Maybe we can connect.

In regards to the original post. I like the control with real estate. In stocks your giving your money to buy a piece of another company that you dint control unless you invest very heavily most of the time. I’d rather have my own thing.

@Chase Cannon how do you feel about the bloomsburg market? It seems bloomsburg is relying heavily on the university. I own a student zoned duplex in bloomsburg but am currently going all residential.

@Greg Gangle I own a duplex. On side has completely new wiring, the other side it half new half knob and tube. My insurance premium is about $400 higher because of the knob and tube. In my opinion knob and tube is fine as long as you can run everything you need to off it in regards to amperage. The side with knob and tube easily runs 3 window ac units and two refrigerators. If there’s a fuse box and not a breaker box I’d start there. For me though I plan to upgrade down the road when walls need to be repainted ect.?

@Joe Cassandra I’ll have to look into that. Right now I only have two units so even with doing showings I’m learning things but at some point my time will be very limited I see that already.