All Forum Posts by: Kristine McCreary-Williams

Hi Mark. I am the GM for SlateHouse Property Management.  Let's discuss options for the management of your property to see if we are a good fit for you. Send me your email so we can connect. 

Hi there.  What is your price range?  I can certainly source properties in these areas.  I have a two unit in Allentown, a two unit in Bethlehem and possibly a deal in Easton.  Please send me your email if you are interested in more information and photos.

There is great opportunities for both right now. Depending on your real estate goals and cash flow should determine what you purchase. If you look at what is happening on the basic economic idea of supply and demand we will see an rise in both property values and rent values. So you might be able to buy something in the next few months and over the course of the next 18 months see good appreciation along with increased Cap Rate if you properly manage your asset. The best idea is to sit down with a good Real Estate professional and let them explain our market and tell you about opportunities that might fit you best. When selecting a Real Estate professional the ones who dominate the market will provide you the best source of deals. 

As we all know the COVID-19 crisis has made all of us rethink about life and where we want to be and what we want to do. Since Pennsylvania Governor Tom Wolf reopened the Real Estate market our area has seen a greater increase in renters, home buyers, and investors from the New York and New Jersey area. Pennsylvania can be very different when it comes to real estate then our neighboring states. Example New Jersey requires a 3 Day right of rescission or attorney review period in all of their contracts which is different from PA which does not require this contingency. It can be negotiated into a contract easily with an addendum but does not need to happen. Understanding more about the PA market will better help you jump on an opportunity when it falls into your lap. So if you have any questions let's discuss.

Kris L--I purchased this at the Sheriffs Sale and paid cash so there were no closing costs.  I paid cash for the rehab as well and have kept the property to live in for a minimum of two years and may sell or pull out equity in the form of cash out refinance.

Investment Info:

Single-family residence other investment.

TWO Bedroom Single Family Residence

What made you interested in investing in this type of deal?

Value Add and potential of Cash Flow

How did you find this deal and how did you negotiate it?

Sheriffs Sale bid

How did you finance this deal?

Cash

How did you add value to the deal?

Complete Rehab and updates

What was the outcome?

Holding the property as a rental yielding $1260 per month with tenant paying all utilities.

Lessons learned? Challenges?

Cash out Refinance
Challenging Flip with lots of obstacles

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Trident Mortgage Omar Nasser

Investment Info:

Single-family residence fix & flip investment in Coplay.

Purchase price: $176,000
Cash invested: $38,000
Sale price: $250,000

Single Family purchased at the Sheriffs Sale for a fix and flip

How did you find this deal and how did you negotiate it?

Sheriff sale bid

How did you finance this deal?

Cash

How did you add value to the deal?

Updating and remodeling the entire home.

What was the outcome?

$75000 equity

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Trident Mortgage-Omar Nasser

Investment Info:

Single-family residence buy & hold investment in Macungie.

Purchase price: $147,500
Cash invested: $11,000

Town Home Rental Investment

What made you interested in investing in this type of deal?

Acquisition cost to ARV

How did you find this deal and how did you negotiate it?

An Investor that I have been working with for over two years was selling it

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Finished the basement and made some changes to the kitchen

Investment Info:

Single-family residence fix & flip investment in Salisbury.

Purchase price: $61,000
Cash invested: $40,000
Sale price: $162,000

Bank owned property purchased and rehabbed. Sold in only 5 days on the market

What made you interested in investing in this type of deal?

The challenge of the entire home. It was in really bad shape but in a great neighborhood and schools

How did you find this deal and how did you negotiate it?

Found on the MLS. Negotiated with the bank and their agent.

How did you finance this deal?

Paid cash.

How did you add value to the deal?

Increased value with the updates

What was the outcome?

$50,000 profit after completed and sold in 5 days

Lessons learned? Challenges?

Reiterated that the worse the condition, the better the outcome!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Acted as my own agent on this deal