All Forum Posts by: Joshua Jonas

Thank you everyone for your response!  I really appreciate it and am looking into all of the options.

@Account Closed

Hey BP,

Any recommendations for a home inspector in the Philadelphia area for our due diligence process? We just came to verbal agreement with the sellers, and will have the house under contract shortly. Since we will not be working with a realtor (this is a FSBO), any advice would be appreciated.

Thanks,

Josh

Hi BP,

Seeking some advice and criticism:

I am currently analyzing a triplex in my city for a buy hold rental; which we will most likely live in for the first year or two. We plan to live in and increase the rent of the lowest unit by $50.00; which will fully satisfy the 1% rule. I plugged everything into the rental property calculator and was pretty satisfied with the results. Cash flow comes to $481.69. Would you make this deal; yes or no?  Why?

Purchase price : $225,000.00

Monthly Rent: $2,200.00

Mortgage P&I: $885.49

Taxes: $205.42

Insurance: $183.00

Vacancy: 147.40 (6.7%)

Repairs: $110.00 (5%) *property was renovated 6 years ago.

Cap Ex: $187.00 (8.5%)

Thanks in Advance,

Josh

@Amy C.  Hey Amy, I am currenly looking at a triplex in philly and would like to know if your insurance situation has stayed the same or changed?  

Thanks in Advance,

Josh

@John Knisely thanks!

Hello,

I am currently seeking a duplex/triplex in the Philadelphia metro area for a buy & hold.  If you are a seller in this market, we would love to be added to your buyers list and see your properties.  Feel free to reach out for my contact information.

Thanks,

Josh Jonas

Thank you for sharing!

Josh

@John Knisely if you would not mind answering what defines "assistant" to a licensed agent.

The reason I ask is I have a family member who is a licensed agent.  What is required in order for me to be considered an assistant, and do you know the annual fee?

Thanks in Advance,

Josh

Such a great topic.  Hoping to make it there.

Josh

Hi BP,

Actively looking for a multifamily deal in the Philadelphia metro area.  Some of the deals we are looking at would require us to pursue a renovation loan, since conventional standards are not met due to things such as boarded up windows, wholes in drywall, etc...  From our understanding, acquiring a quick reliable estimate is key to moving renovation loans along smoothly from the jump, as they take longer.

With all that said, we are in the market for a general contractor.  Someone who can join us on walk throughs and provide quality estimates in a timely manner if we believe a renovation loan is needed to finance the purchase.  I am actively building a list of referrals so I can begin looking for a good fit.  I have already tapped friends, family, and coworkers.... but would love to hear from some fellow BP members.

Any recommendations are greatly appreciated.  Also feel free to ask any questions regarding our situation.

Thanks in Advance,

Josh