All Forum Posts by: John Whitridge

Hi BP!

I am looking over the Profit & Loss statements for a duplex rental property located in Columbus OH.  In each of the last last two years the owner has spent $30,000 in repairs and maintenance which is significantly cutting into the profit margins but seems to signify that the property has a lot of differed maintenance issues that are finally coming into the light.  

Should I expect this trend to continue in the future? The property is near Ohio State University and rented to students which leads me to believe that a lot of the repairs are going towards tenant damage, is it possible to write certain clauses into the leases that would have the tenants pay for any repairs they willingly caused (i.e. broken doors or windows)? 

@Joe White now that's what I like to hear! Thanks for the advice I'll keep an eye out for any changes to the market.

@Joe White That's something I have heard of a few times that I am concerned about negatively affecting my ability to rent out units.  How do you combat something like that happening?

@Joseph Gozlan Thanks for the reply that does add some good perspective on the situation.  It sounds like the new stadium would be almost right outside if it is put in where they are discussing, I am aiming to rent mainly to students since it is so close to campus so I am hoping it will add to the allure of the units.  

Hi Bigger Pockets!  

I am getting ready to close on a 3 unit multi-family home in Philadelphia less than 2 blocks from a local university.  I recently spoke to my soon-to-be property manager who informed me that there is talk of the school expanding and putting in a new football field a 'stones throw' away from the multi-family building.  He informed me that in his opinion it would only add value to the building but I would like to hear a second opinion on whether University expansion is always a good thing or if it has ever brought negative results for local home owners?

@Joe White That is great advice thanks for the response.  I was hoping to avoid having to do renovations but it seems like that might not be possible to get the best deals.  

Hi Bigger Pockets, 

I am looking to start my Real Estate Investing career by purchasing a Multi-family building in the Philadelphia area but all of the properties I have looked into are either out of my price range or are not cash flowing enough to justify the purchase price.  Is this a sign that this is not a good time to buy and I should wait until prices drop or am I looking in the wrong places for deals?

If anyone is in the greater Philadelphia and has experience House Hacking I would love to go to lunch and discuss options on how to begin Real Estate Investing.

Thanks, 

John Whitridge 

Hi Zach, 

I would love to hear more about this property, is it still on the market?  If you could send me any more details to [email protected] I would appreciate it!

Thanks, 

John Whitridge