All Forum Posts by: Jared Forman

Originally posted by @Evan Anderson:

@Jared Forman Are you mainly looking for market deals or off market deals? And how what are you plans with these homes? Flip or rent?

My focus is at on and off market deals. In my market ( Philedelphia) the off-market deals can be worse than on market deals. Today I am looking at a triplex with 2 units rented and 1 vacant. It currently makes enough to cover the expenses and would be a great house hack opportunity or a buy -n- hold. 

This is a place I have been chasing for months, and finally get to view. Sometimes the wait is worth it.

Evan,

I am 24 years old not much older than yourself.  The questions you are asking no one besides yourself can answer. 

You need to decide what our your goals for the year and don't let anything stop you.

MY goals for this years:

Own 4 houses by the end of the year

Visit 2 more countries

I would have started learning about investing in RE in college rather than gambling on stocks while taking notes.

If I have the knowledge and drive back then I might have skipped a party to buy a house or two. 

Stance: Realtor Selling Properties Managed by ABC Capital

Although I have not bought anything from ABC, I am currently selling 4 houses for a client that are managed by ABC in Philadelphia. The properties were purchased back in 2012.

All of the properties are in rent ready condition with OK finishes. All 4 properties are rented out with tenants on month-to-month leases. The 2 tenants I spoke with were both in c - class neighborhoods. They said the management does not come by  often and told me about small issues they were having.

Will post more as the process unfolds.

I am not taking a stance, rather telling an experience from a different lens.

If you want to buy rented properties I have 6 coming on market, message me privately.

ditto what was said. These neighborhoods are investor friendly. if you have not practed running number I would recommend using the bigger pockets calculator and stress testing to see what effects them the most. The biggest mistake you will make on the first deal is paying too much. If the numbers don't work don't pull the trigger. I might know an agent or two who work that area. *cough cough* For your first deal I would recommend not going over 2500 sqft to reduce your risk.

If if you'd like to know a bit more about the Philadelphia Market, in the search bar type in Philly. There is tons about the different neighborhoods and people's predictions on up and coming neighborhoods

Do not know about the Brooklyn market, but Philedelphia is thriving with properties that cash flow. You can buy a triplex in a good neighbor for $450k or less and have it produce $3600-$4500 in rental income. This will diversify your investment with different streams of income ( 3 doors) and give good cash flow. For buy-n-hold investing it will mitigate the risk. 

If you have any other questions about Philedelphia and it's metro area please reach out.

Jared Forman

Investment Specialist

Keller Williams Main Line Realty

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My advice...

Look into Keller Williams and take their ignite program. This is a handon training with jov agent in the brokerage. I have had a great experience with them. 

If you want to grab a cup of coffee and talk about it I am free next Tuesday.