All Forum Posts by: Jordan Sachs

Yes new tenants were screened. It's actually super easy to evict someone in Allentown. I mean if you have good reason which I did because her lease had expired and she stopped paying. Judge gave her 14 days to get out and said if she wasn't out in 14 days we'd go back to court and she would get 14 days more. If she didn't leave then the constable would come remove her. So basically in 30 days it would've been done but she left in just over 2 weeks.

I bought 3 SFHs in Allentown in 2021 and it was a bit challenging at first but now they are great. Once had a good tenant who still lives there, one was vacant and needed some rehab but I've had a good tenant for almost a year and the other I inherited a terrible tenant from the slumlord of Allentown. I had to evict her and then fix a bunch of stuff and pretty much reno the whole place. It's all good now, properties are cash flowing well, and my tenants are good. The areas are ok, I personally would not live there myself but as others have said, that's kind of irrelevant. I would make sure to get a rental history on any tenants you inherit and I personally would recommend against buying from the most notorious slumlord in Allentown. The numbers will work great but the tenant will probably suck and you'll end up having to fix a bunch because he does very crappy upkeep.

That's unfortunate indeed. I bought a property from the biggest slumlord in Allentown (live and learn) and the place was a disaster but the low income tenant was paying way more than she should have been. I would definitely not be surprised if he were the owner of this property because he owns a ton of them there and he takes really poor care of them does incredibly shoddy work. It's actually really kind of sad how he takes advantage of low-income folks.

@River Sava do you offer DSCR loans for STR? If so, I'd love to connect as well!

I have three DSCR loans on LTR and they've been great. I am looking to get a STR though and I know that at present my lender underwrites properties for STR using LTR data so it is definitely a bit more tricky to make the numbers work. I'm looking into other lenders who may use the actual STR data to underwrite the loans though. I definitely found the loans to be very easy to use as long as you have the money for down payment.

No problem!

@Carritha Matthews Yes! someone messaged me and said they tried access funding and it ended up being a scam and they lost some money. I didn't get any further than that but it didn't seem like a good idea!

@Steven Foster Wilson I was thinking that as well. Thank you!

Thank you very much! All great points to consider and I really appreciate the input!

Hi everyone. I'm a newbie to investing (only 3 SFHs) and my partner is considering whether to sell or rent out his home. His house is in Clifton, NJ and has a 3.25% interest rate, monthly PITI of $1920, He could probably rent it out for maybe $2600-$2700 on the high end but if he sells he'll prob walk away with around $200k. Personally I think it's a lot of money to have wrapped up in one property when he could sell and maybe buy a couple properties in different areas but I'm curious to know what other people who are more experienced think? I'd be grateful for any insight!