All Forum Posts by: Joseph Platyan

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Hi group! 

I am wondering if my numbers are correct here for this Pittsburgh home? 

Are rents for a 3 bed 1 bath in 15235 around $1,000? 

What are your thoughts on this deal? 

Thanks! 

- Joe 

I’m with Keller Williams. They don’t seem to have an issue with the fact that I am more interested in investing than selling. Talked with a couple guys at Property Merchants in Media as well. Small brokerage but great group of guys. They are 100% focused on investment properties. 

@Jimmy O'Connor I think blocks do definitely matter when talking about West Philly. For Overbrook and Wynnefield it's a matter of being closer to City Ave for the most part. Some value as you get further east but I would say risk definitely goes up the further east you go from City Ave. Driving around these neighborhoods will give to the best feel for what makes the most sense. 

I am interested in Wynnefield and Overbrook. Cobbs Creek I don't feel is ready. My insurance agency is on City Ave on the boarder of West Philly. It use to be in the Parkside area so I have a feel of how the neighborhoods are. I talk with insureds daily in these neighborhoods. My gut tells me the two I mention above are promising the others (besides U City of course) I would be hesitant still.  

Al give Wendy Monaco a call from Allied Mortgage in Bala Cynwyd. I believe she can get it done. Tell her I sent you! 

Nick my first primary was a condo in Spring Garden section of Philadelphia. It’s a great neighborhood nestled between Fairmount and Northern Libs. However it doesn’t have the same price tag as those neighborhoods. There are still plenty of good areas in the city you can get a home with that budget. My advice would be to find a duplex, live in one and rent out the other. 

If you have a real estate license and you want to hang it with a brokerage in the Philadelphia area the specializes in investment properties (fix and flip & buy and hold), where would you hang it and why? 

I would think being in an environment that is focused on the investment side opposed to the sales side would be more beneficial for the licensee to join. Especially if their goal was to use their license to acquire properties to invest in. Or does this not really matter? 

@Jason Gilroy as an insurance broker I can say this is going to be very difficult to recoup any type of benefit from your neighbors policy. You’d have to prove that your neighbor was truly negligent for starting the fire. If it was a accident their policy won’t pay for your property. Insurance is super important on a rental not only because of property coverage for instances like this but also for the liability. One slip and fall on the property, a good lawyer will come after everything the investor owns.

@Jimmy O'Connor looking at a three bed 1 & 1/2 bath a little under 1300 square feet. 

@Michael Lenahan awesome work on your brrrr! Let me know if you'd be open to chatting about your experience in this area. 

Looking at properties in the Wynnefied section. This one would be a "turn key" type deal. Recently renovated. Been on the market for a bit listed at 149K and believe I could get a minimum of $1300 in rent. 

What are your thoughts on this section of Philly? Is $300 enough cash flow to make buying a turn key deal worth it or should I look for something I can "BRRRR"?

Still a newbie when it comes to this investing stuff.. 

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