All Forum Posts by: Diane Menke

Hi guys and thanks for the welcome.

As you may know, most of Philadelphia housing stock is over 75 years old. So a great market for remodeling. And the house I bought in foreclosure is closer to 100 years old. Lucky for me (but unlucky for him) it had been 95% remodeled when the previous owner who did all the work ran into troubles with the banks! Some things still needed finishing like small trim bits. We replaced the copper that vandals stole and we made other repairs to structure and function....so now we have it listed for sale. Its a huge good looking house in a nice upcoming area. A good house to get into for first time buyer or even someone who wants to rent to students. Its in the neighborhood of University of Penn. Any tips on moving the house quickly?
Thanks all,
Diane

Heather if you need a contractor and you have never used one, you are at a real disadvantage as a RE investor. You need these pros to work with you as part of your team. So you are right to reach out to others to find your contracting team members.

I would start by asking the realtors, neighbors and family members you know to recommend someone.

I also especially recommend NARI and RAR as sources for qualified remodeling contractors. You may need anyone from a handy man to a full fledged design/build contractor.

All of these pros have professional contracts, mark up rates, etc. Expect to get what you pay for. Treat your team member well and they will take care of you.

Full disclosure I am an owner in a design build firm in PA and a member of RAR.

Hello this is Diane from Philadelphia intriducung myself.

I have been checkin in with Bigger Pockets BLOGs for about 60 days or so as part of my daily news intake.

My personal RE experience is like this - Starting in the early '00's I did a refi to access some home equity, I then did 3 flips for cash, I bought 2 rental houses for good cash flow and equity.

I now still have those 2 rental props, plus one prop I bought in repo in June which I now have up for sale/rent. In my "other job" I own a design/build remodeling company. Nice synergy.

Thanks and I hope I can learn more from you all. Today was all about EIUL's which sound very interesting.

Diane