All Forum Posts by: Joseph ODonovan

@Tanner Shore Everything is negotiable. Remember, we are real estate investors who make $$$ by not over paying. Run your numbers, if the turnkey fits then make an offer. Always try to negotiate, never offer asking price unless it's priced under market.

@Joe S. I know this post is over two years old but curious to see if anyone here pulled the trigger on properties in or around Gardners Basin. If so, how are you making out with it? Are there any other areas in Atlantic City that would make good as a short term rental?

@Adam Wodka I doubt it has any value. The labor to get it out of the house combined with the transportation of it makes it worthless. You should be happy if someone took it off your hands for FREE.

@Emma Fitzgibbon I own a SFR in Brigantine which is a 7 minutes drive north of AC. I AIRBNB it but I do get it to use as a vacation getaway for anywhere from 4 - 6 weeks a year. Obviously the bulk of my rental income comes during the months of June, July and August. My annual expenses are slightly more than my rental income but I'm building equity and I have a beach house to use when I want. Brigantine is a great beach town and we get to enjoy the entertainment and dining at the casino's. I would buy a STR in AC but location is critical as some sections can be dicey.

@Dan DiBiase As a buyer I would never use the LA to represent me. I always use my agent to represent me thru the entire process, from writing the offer, negotiating and closing.

@Sean Banilivy Exactly what @Sheryl Sitman said but let me add this. A $180K ARV will not get you into Fishtown or Brewerytown. It may get you into Germantown and will definitely get you into Cobbs Creek. Another neighborhood to look at is Mantua, just north of Brewerytown. Or some pockets north of Temple. Check out the 19121, 19122 and 19132 zip codes. Good luck!

@Jason Lee Real Estate is local. Therefore I can only speak for the Philadelphia region. As long as interest rates stay near Zero, I don't see a downturn. Residential Inventory here is low, demand is steady. The Fed is doing everything in it's power to keep credit flowing. Until then, I'm an optimistic. On the hand, commercial real estate not so much.

@Blaine Meehan "....with the consent of any owner, occupant or agent...."

Therefore, yes they can legally enter the property. If you take this to court 1,000 times, you would lose 999 times. With your 1 win being with the Judge who caught his wife with the code enforcement officer

@Phillip Costa I can't read the article you posted but I highly doubt that Drexel University will not reopen post Covid19. And that goes for every major university in the Philadelphia area. Education will ALWAYS be necessary. Universities will to adjust to the new climate accordingly.

@Cj Powderhorn None of the 3 zip codes you reference are downtown Philly. Regardless, what exactly is your question? Not sure what you are asking