All Forum Posts by: Joshua Kleiman

Hi all,

I'm a new investor looking to learn more about the market near the FSU campus. I would love to get any advice from experienced investors on good price / sq foot (I've been looking at zillow, and other online tools), expected avg rent per tenant, and any pro tips a newbie may not know (e.g., maintenance, certain streets that are popular, advice on tenants, etc). 

Thank you!

Josh K.

Thank you guys!  

@Elvis Vasquez - I've looked at the title provided by the National Title Abstract Company but am still unclear if these liens will remain after purchase of the tax deed (e.g., mortgages) and still don't know how much money is owed for some of the city liens(e.g., $100 v. $30K).. When you purchased the land in homestead how did you find out how much was owed in other liens? 

@Doug Phillips  -  Thanks for the helpful adivce! I've looked at the specific property and it seems to be in good condition. Do you have any more info on how to use netronline or other sources to find the actual amount owed on liens? 

Hi there. I'm looking to buy a tax deed property from an auction in Miami. Do any of you have experience with this? If so would love to understand how to go about doing the diligence prior to auction day to find out how much is owed on liens that won't be cleared once sold. I would also greatly appreciate any intros to tax deed lawyers or title companies that can help guide me throughout this process. 

Thanks! 

Hey Lux - that is amazing to hear! 

I'm also new to REI (based in NYC!) and looking into multi-families in PA. I'm not sure how much research you have done yet but NYC is pretty expensive so assuming you are looking at small 2-4 multi-family units. If that is the case you will have to put 25% down, cover closing costs, and have 6 months of mortgage payments leftover in the bank (unless you live in the unit and "house hack" which may be the best option from what I've read on BP). Again, I'm still learning but this is what I've gathered from conversations and blogs I've read.

I'm happy to chat, compare notes, and share what I've learned so far.

A couple of useful links below that I've used to educate myself: 

Blog on multi-family investing: https://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/

Post with Ben Leybovich that I found super helpful and his 13 steps (recommend hearing the podcast as well): https://www.biggerpockets.com/renewsblog/2014/03/13/investing-multifamily-ben-leybovich/

13 steps of multi-family investing eBook (free if Prime member): https://read.amazon.com/?asin=B00EP6XMCS

Info on mortgages: https://themortgagereports.com/29052/what-to-look-for-in-a-mortgage-company

GOOD LUCK!

@Scott D Burrows, Thank you for the advice and intros! This property will not be owner occupied. 

Hey BP - I'm currently shopping for mortgage pre-approvals in the Philadelphia area for a small multi-family (2-4 units). Does anyone have experience in this area and have any bank(s) or broker recommendations? 

Hey David,

Appreciate the advice! I would say I'm concerned about "pre-deal" and "post-deal" items. 

Pre-deal: 

• I don't know enough about the area (e.g., what are good neighborhoods to invest in) 
• Lack of confidence in the calculated costs for expected and unexpected items (e.g., electricity, gas, CapEx repairs). 

Post-deal: 

• Becoming a landlord and managing/ renting out the property 

Because I don't know these things, I am worried about making a bad investment (especially since it will be my first). Any thoughts on good articles to read or people to speak with? 

Hi there, 

I'm brand new to REI and looking to get involved in a market near me (NYC). I've read some books, blogs, and listened to podcasts but am still struggling to "get started".

I recently started looking into small multifamily units in Philadelphia and was wondering if anyone here has experience in that market and is willing to share some advice.

Thanks,

Josh K.