Diversified Investors Group - South Philadelphia Subgroup
Monday, September 28, 2015
6:00 PM to 8:30 PM
Famous Dave's, 1936 South Christopher Columbus Boulevard, Philadelphia, PA
www.digonline.org
Speaker - Joseph Neilson: The Real Estate Professor
Joe Neilson is taking the real estate market by storm. He is a real estate investor who started at the age of 61 who has bought, renovated and rented over 65 properties in the last 7 years! After purchasing house after house and producing remarkable cash flow for each property over the last 7 years.
Joe shares his experiences from failure to success and how he did it! He demonstrates a proven system of "Buying & Rent Foreclosures" to build wealth. After 7 years of investing his net worth is 3 Million and has a net profit of $22,000 a month!
Bio - I'm the Real Estate Professor, Baby!
Joe Neilson is an author, educational speaker, entrepreneur and landlord based outside of Philadelphia, Pennsylvania. In 2005, Joe was 61 years old, without a job or pension. Joe needed steady monthly income! He had poured his heart, sweat and blood into the corporate world and refused to go back to climbing the 30 year corporate ladder. He didn't have time for that!
So Joe started investing in rental houses and it was the best decision Joe ever made. 10 years later Joe has 75 houses and 27 garages earning $24,000 a month in profit and has 4 million in equity that he operates under Delco Home Rentals, Inc. located in Boothwyn, Pennsylvania. After purchasing the houses and producing remarkable cash flow Joe shares his experiences to success along with his mistakes, failures and how he did it! Joe demonstrates a proven system in his book "Buy& Rent Foreclosures" to build cash flow and wealth. Now with Joe's new book "The 7 Essential Habits of Wealthy Real Estate Investors", the companion book, Joe digs digging deeper into the general concepts by giving step-by-step instructions...gritty, no-nonsense essays from the real estate trenches.
Tenant Choice and Management
Tips for Renters
Owning rental property is a great investment. You want your property to be a profitable investment and a steady cash flow for you, not a constant money pit or headache. Making good choices along the entire process from choosing which property to purchase, how you manage that property, and the people you have as your tenants all can determine your success in the Greater Philadelphia property management arena. Here are some of the items that will be discussed.
- Length of the lease: Depending on your landlord’s preferences and the state in which you live, the length of the lease may be yearly, monthly or weekly.
- Security deposits: In most of the states, a limit is set on the amount which a landlord can charge as a security deposit.
- Responsibility of landlord: Your landlord is responsible for repairs and any other such issues.
- Fee: When you are negotiating on the deal, make sure that the management firm’s or estate agent’s fee is collected from your landlord and not from you.
- Scrutinize the property: Try to find a property that is in good condition, preferably one which is newer and has a good air conditioning and heating system and a nice bathroom and kitchen.
