All Forum Posts by: Josh Tonnesen

Hello @Kofi Quaye,

The website that I use for the property taxes is the same one that @David Cochran mentioned (http://avicalculator.phila.gov/).  I have found it to be very accurate, and the amount that it is estimating for 2017 tax is 93.79.  2016's tax was 90$. 

-Josh Tonnesen

Hello Allen,

I am in the Philadelphia area, and would like to get in touch with you about your buyer's list.  Feel free to send a connection request.

-Josh Tonnesen

Hello @Ahmed Ogunbunmi,

Welcome to BiggerPockets.

There is a lot of opportunity in Philadelphia for both fix and flips and buy and holds.  Feel free to reach out or connect with me if you need anything. 

Also, Alpha funding solutions is a good hard money lender if you are looking for capital for your flip projects.

Good Luck,

-Josh Tonnesen

Hello @Christopher Hvostal,

Welcome to BiggerPockets.  The Fishtown area is an area that seems to be doing well and that I also have a lot of interest in.  Good luck with your investing!

-Josh Tonnesen

Hello @Alexis Williams,

Have you considered what type of properties you are going to invest in? For holding properties that do not need rehab, you can normally get a mortgage on your investment property and not have to much money down. If you are looking for more of rehab properties, or using the BRRRR strategy, it might be useful to consider using hard money. Feel free to connect with my and message me if you have any questions. I also know a good hard money lender in those areas.

-Josh Tonnesen

Hello Reuven Goldstein , Welcome to BP. Congratulations on finishing up your first flip. The Philadelphia market has a lot of good flipping opportunity and I am sure you will do well. I have come into contact with a hard money lender who does lends to a lot of flippers in the Philadelphia area. Their name is Alpha Funding Solutions. I thought I would let you know about them in case if you were looking for someone to help you finance your next deal. Feel free to connect with me. -Josh Tonnesen

@Brett Snodgrass

I started with the Millionaire Real Estate Investor, and then read the other two books in that series (Flip and Hold).  Then I have started to go through many of the favorite books on the podcasts.  I've read Rich Dad Poor Dad, 4 Hour Work Week, and I am currently going through the E Myth.  I found the Millionaire real estate investor to be the most helpful, and then flip from that series.  If you have any good recommendations, feel free to let me know, because I am always looking to expand my knowledge.

-Josh Tonnesen

Hello BiggerPockets community,

My name is Josh Tonnesen and I have a real interest for real estate.  I have read several books, listened to numerous podcasts, as well as had good, hands-on experience.  

I am looking to expand my network and contribute to the Biggerpockets community wherever the opportunity arises.

Hello,

I am currently a Junior in college, who makes roughly 10k a year through part time and summer work.  I have gotten interested in investing my money into real estate, since my student loans are not accruing interest for another 2 years.  My school is pretty cheap, and my expenses are low so I figure that it would make sense to put that into an investment property.  I have done research and have come up with a house that I would appreciate input on.

The house is older, but it has no structural issues (floors and walls are all level).  There is no stove, washer, dryer, refrigerator, and the roof leaks.  I understand that that really lowers my availability for obtaining loans, but I am currently looking through lender options.  I just want to hear some feedback on this.  

I am having a roofer come through next week to give me an estimate on the roof repair/replacement.

The house is listed at 25000

I assume there will be 8-12k in repairs

I estimate the ESP to be 45k

The way that I anticipate to make the money back is through holding the property.  The city that I live in is a low income environment, so the houses are going cheap, but it is a college town so the rent is high.  I have a group that could move in after the repairs are done, which I anticipate would be in August.  

I know I could get 800 a month in rent (1.78% of ESP)

The crime is low in this area, comparing it to the other parts of the city, and it is across the street from an elementary school.

I am curious as to if investors think that this is a good idea, since I am still in school and will have loans after college, but they are not substantial (20k total).  Also, if people would recommend wholesaling for starting investors, or if going into a potential good deal would be a smart move to understand the process.

I would appreciate any feedback, Thanks.

I am looking into buying my first investment property. I have done market research, and I know the rent market very well. I am still currently a student, and do not have credit history. I am also employed. I have gone to some local banks, and I have applied for my pre-approval letter for the mortgage. The house is listed at 28000 and it is a foreclosure. There are needed repairs, but I believe that this property could be bought for a good value. The mortgage I was applying for does not allow for the house to have certain problems, such as a leak in the roof, and the house is missing a stove, which is why I did not get the mortgage. I was looking for some advice as to where I should be looking for lenders, and if private loans are a good idea. I know they typically have higher interest rates, but I do not think it would be a huge problem because his house cash flows very well. I have numbers ready if anyone would like to see them, but I am looking for some lender advice. Thank you in advance.