All Forum Posts by: Jay Sechowicz

I think it would depend on where in Montco it is like Abington vs norristown kind of thing. I’m not exactly sure what to tell you on price but it sounds like it is basically twin triplexes if I am understanding it correctly? That may be what local realtors are basing their prices off of. 
Side note, I may be interested in purchasing if we can talk about more info.

Good luck! 

@Marc Possoff just out of curiosity where do you live/own in grays ferry? Seems like it’s still a bit of a hike to actually walk to penn. do a lot of people do that? 
I recently drove grays ferry and seems like its still very block to block. Any recommendations for specific pockets to try and purchase? 

@Daniel Kent I’m also looking in the grays ferry area as well. I wanted to buy a property to flip and then hold as a rental. But even shells are going for 100k+. Few short years ago you could easily have got them for half of that. Tough market but have to keep looking.  But I agree that that area still has a way to go and really does vary. I was originally turned off by that area bc of lack of retail and restaurants there but I have come around more. Would love to hear about your experience and what you’re looking to do. 

@Thomas Alessandrello a lot of comments have given good advice. I would spend the next few months learning, reading, listening and asking questions about what you’re trying to do. I am also a HAPCO member and you can meet a lot of good resources there.  I started off with an owner occupied duplex and am now looking to move on from that. Easy way to ease the transition of being a home owner and also getting experience with tenants as well. Also pre approvals are very easy to get but I would make it clear to your realtor that you are planning to stay at your current house until June. They can set you up with a portal to the mls that will send you properties that meet your criteria but he won’t have to take you around constantly if you aren’t serious about buying yet. Good luck! 

Also, if you own the house outright couldn't you take a mortgage out against the house you're currently rehabbing? 

If you were able to have a house built for $150k you should be able to get a mortgage around $900 especially with today's mortgage rates.  If you are getting $1200 for your other unit you should be able to get at least that much for new construction.  Also, there should be minimal repairs/maintenance issues.  Just my 2 cents but at the very least I would avoid selling the lot if at all possible. 

@Marc Possoff Are you able to take some equity from your primary to get the house built and then get a mortgage on it once it's complete?  Talk to some lenders you can probably get a construction loan too.  Other people have houses built all the time.  I am looking in to buying in that area too, so I am interested in how it works out for you.  I would try to keep the lot unless it is absolutely last resort. 

@Ethan Giller gave great advice. I would do all that he recommended. I own a duplex too and rent upstairs and I just have the commercial license in my name 

Awesome Job my friend looks great, cant wait to do my own. What did your renovation numbers look like if you don't mind me asking? 

Do you still do everything through your current cell phone? Or does it have to be at the computer?

What are the benefits besides just the public not having your phone number?  You still have to field all the calls somehow

Thanks everyone.  The google voice is definitely something i will look into.  @Jordan Turner I appreciate it but I don't need a lease.  I was more just looking for what people look for when finding tenants outside of the obvious.  Maybe clever questions they ask or things like that.  I didn't want to put a rent sign outside so I'm glad you guys agree. A friend of mine told me about postlets too so that is what I am going to use.