All Forum Posts by: Joseph Platyan

Hey Sean, I am an insurance broker in the Philadelphia area. I have a specific program for RE owner umbrellas. Let me know if I can help. 

Thanks Dave again super helpful.

The $5,000 is for cosmetic. I am not looking to BRRRR this property. It is actually very livable and up to date. It's currently owner occupied.

My thoughts are to put 20% down, take advantage of some cash flow right away by renting it shortly after I buy, and hold on to it long term. What I really want is to pay it off in 20-25 years when I am close to retiring. I would like to do this with a few homes and this would be this first. 

I don't think I am ready for a BRRRR type property yet.

@David Wenger this was super helpful and very informative. I agree about that area and proceeding with caution on the electrical.

You mentioned leave myself a buffer because the numbers are tight. What does that mean? I am still a bit of a newbie

Thanks Tim! The 4.1% was approved by the bank already (thankfully!) however I think you are right on the cap ex and repairs. I used a general 5%. Would you say 10% would be more accurate? 

Thanks Michael! From the sellers disclosure it appears they updated the electrical to 200 amp in 2018. I didn't see any knob and tube present which was good but I didn't check the outlets. That is a good idea. I would definitely get an inspection on the home and have them look out for that.  

Hi group,

I am looking for advice on analyzing this single family home which would be my first buy and hold property. It's located in Palmyra PA near Hershey. The area has A rated schools, major hospital, low crime, and good potential for growth. The home is older, built in the 1930, radon levels are at 5.5, but it does have gas heat (most are oil in this area), and window units for air. It could use a little face lift other than that it appears to have good bones.

Let me know your thoughts!

Thanks in advance.

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*This link comes directly from our calculators, based on information input by the member who posted.

Hi group,

I am looking for advice on analyzing this single family home which would be my first buy and hold property. It's located in Palmyra PA near Hershey. The area has A rated schools, major hospital, low crime, and good potential for growth. The home is older, built in the 1930, radon levels are at 5.5, but it does have gas heat (most are oil in this area), and window units for air. It could use a little face lift other than that it appears to have good bones. 

Let me know your thoughts! 

Thanks in advance.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

What is your take on buying a rental property with oil heat. Is this something that should be avoided or does it not matter too much?

I remember being a tenant in a home with oil and it was a bit of a pain to deal with also could get expensive for a tenant. 

Does anyone have any experience in the Oxford PA area market? I live in Delco and know as far out to Kennett but haven't been to Oxford. Does this area have potential for buy/hold? 

Awesome thank you all for your help!