All Forum Posts by: Kenneth C.

Hello Everyone,

I have three properties in Frankford as of now, and my long term strategy is to continue to invest in this community. Two of the three properties were purchased in early 2018 have have cash flowed pretty well for me. I closed on the third property in January (2019), and after completing some minor repairs will have it rented this spring.

I'm not sure if this is the correct term, but there are two opportunity zone tracts in Frankford (e.g. 300 and 302). The boundaries for tract 302 are as follows:

South: Wakeling Street

West: Castor Ave

North: Cheltenham Ave

East: Frankford Ave./Griscom Street (small section)

The boundaries for tract 300 are as follows:

South: Orthodox Street

West: Frankford Ave./Griscom Street

North: Cheltenham Ave.

East: Tackawanna/Charles/Valley Street

If the allure of the tax breaks associated with the zones attracts developers, a byproduct of their investments is that the properties in these areas will appreciate. I'm investing in the area because it cash flows well for me, and I intend to hold on to the properties for 10+ years as @Janine Covello is doing. If the aforementioned does happen, great. If not, it's still a win if it cash flows well. So I am a believer in the area @Brendan Markle.

@Aaron Poling @Tim Kaminski - Thank you both for the feedback.

BP,

I have a tenant that will be terminating their lease unexpectedly and early (April 1, 2019). Currently, the tenant pays all of the utilities with the exception of the water. Do I inform the utility companies and have the bills transferred into my name/companies name? Do I have certain utilities shutoff?

My intention is to prep the property to be rented by mid-May or sooner. Hence, I will use April for this prep work. Any and all advice is welcomed. 

Ken

Hi @Andrew Beauchemin

Please send me Jacob's info when you get a moment. Is his office in or around Philadelphia?

Thanks.

Ken

Thank you all for responding.

Hello,

With my first full year of generating income and expenses under my LLC almost at completion, I think it would be prudent to engage a CPA for the upcoming tax season. Does any have any recommendations for the Philadelphia area?

Thanks in advance.

BP Folks:

I have a property under contract in NE Philly (19124) and I'm looking for a home inspector. Any recommendations?

Thanks.