All Forum Posts by: John Knisely

Ran your post by my mortgage broker and he said he can cover you 80% LTV. Let me know if you want an introduction.

@Justin McElroy thanks man!

@John Petriccione II happy to help. My team is based in Media. We all invest in Delco as well.

Hey Victor, depending on what county/township you are researching in the answer will vary. Some of the suburban counties have GIS systems or just addressed based parcel records, Philly has Atlas etc. Land use code is something I typically use to distinguish in Delco (zoning code often doesn't tell the story). I also pair it with Google streetview to count electric meters on a property (when possible) and I do have the luxury of looking at past MLS sales on a property if they exist. Message me if I can help out.

Diversified Investors Group is a great starting place. I'll message you the link as I believe my post will be flagged if I comment it here.

Right in my signature banner below. My post will get flagged and removed if I type it out.

Hey Ben, feel free to shoot me an email. Happy to look over what you've got and offer some of my experiences.

Hey @Hampus Oberg welcome to Biggerpockets. Happy to meet up and chat with you guys. I house hack a triplex and would glad share tips.

PA landlord and agent - I keep it simple. I give them the interest, all of it  I don't waste time with 1% admin fees or anything. I feel its splitting hairs and I can spend my time on far more productive things. Many of them don't even realize its legally a requirement so they appreciate the fact that I follow the rules. It builds goodwill.

I try and cut the check through billpay methods so I have a clean digital record of it.  I maintain the money in an Online savings account with Ally bank, so I do get 1.75-2% in interest on the money.

First step is don't close of course...yet. Is the property going to be rehabbed anyway, or was it relatively turnkey?

Make sure the water is and the situation isn't getting worse. Someone should get in there asap to limit the damage (mop, dehumidifier etc). The Seller should do this.

If the deal works, I wouldn't back out until at least attempting to get the seller to come down on price or provide a credit. Renegotiate. It is the sellers responsibility to maintain the property through settlement date in proper repair (in most cases). I would get repair estimates from no less than 3 licensed, insured, reputable contractors to take the issue back to the condition it started in. You could let the seller choose 1 of the contractors quoting and choose 2 of your own or your agents recommendations. You could then take the average of the 3 and reduce the purchase price or have the seller provide a credit/assist and then agree to accept it in as-is condition with the damage.