All Forum Posts by: Joe Steinheiser

If buying a condo for rental, how much would you reduce, if at all, capital and maintenance expenditure reserve in you calculations? Anything else to consider when buying a condo to rent out?

Andrew, I revised this and re-posted (I didn't like what the link showed and couldn't figure out how to delete the post entirely and start over). It is a 2 story row home with a full poured concrete basement. Center unit with vinyl siding. rear off street parking with a small back yard. Built in 1983

So this property has renters that have been in the house for 29 years! They want to stay and the seller would like the buyer to let them stay. The rent would be raised to market com parables and so far the current renters are in agreement. The reason I mention is because the maintenance and vacancy percentages are a little low. If they were not to stay I could raise the rent considerably after doing renovations. I ran those numbers and they are even better. Right now with my first deal I want to get my feet wet and let the long time renters stay. what do you think? View report

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

So this property has renters that have been in the house for 29 years!  They want to stay and the seller would like the buyer to let them stay. The rent would be raised to market comparable and so far the current renters are in agreement. The reason I mention is because the maintenance and vacancy percentages are a little low. If they were not to stay I could raise the rent considerably after doing renovations. I ran those numbers and they are even better. Right now with my first deal I want to get my feet wet and let the long time renters stay. what do you think?

I'd like to set up a LLC to protect me and any future assets I acquire but not sure how that will affect my borrowing ability. This will be my first property. How is borrowing affected when you borrow as a LLC as opposed to an individual.

Thanks,

Joe

Hi BP,

I'm looking to invest in my first property (multi-family preferably but would consider single family) in East Falls, Germantown or Manyunk. I'd like to get recommendations for a RE Agent specific to those areas. If anyone has any advice for those areas that would be much appreciated also.

I picked the areas because it's close to my daughters college and figured that would be a good place to start so that she could live there while she's at school.

Thanks,

Joe