All Forum Posts by: Mark Benevento

Check out I Fund Cities out of Philadelphia. I can put you in touch with someone there if interested!

I would put up a few large signs displaying Available for lease, with the traffic count below!

I would definitely try to firm up your rental numbers. A quick and easy way to do this is through Zillow, mls (Closed), realtor, etc.

You can also run some high level numbers like this

Income - $1500+$1000 = $2500X12 = $30,000

Operating expenses = 25% of $30k... ($7500)

NOI = $22,500

You may set your investment criteria to a 7 or 8 cap (Return if paid cash) depending on the market.

Say you are looking for a 7 cap, $22,500/7%= $321k

I would also focus on cash on cash return. I can help further if you want to shoot me a PM.

Best of Luck!

Congrats! Looks like a pretty good deal to me! I would come up with a Capex budget and put some money aside each month for that!

@Nat Chan thank you Nat, I appreciate your input!

@Nathan G. The current seller isn’t willing to give me the property without the tenants. He is 85 years old and doesn’t want to go through that process during COVID

@Daniel A. Thank you so much! I really appreciate the time you put into your response. I will definitely explore those options.👍🏻

@Carleton C. Would you do that in person? I am only 23 so it is definitely a tough situation for me. Thx!

Hey BP,

I am purchasing a duplex with closing in 3 weeks and I plan on doing a full rehab but need the tenants out asap. I obviously can not evict them during this time but would be more than willing to pay 1 months rent somewhere else for each of them. Does this sound like the best option during this time? Thank you!

Hey BP,

I am purchasing a duplex with closing in 3 weeks and I plan on doing a full rehab but need the tenants out asap. I obviously can not evict them during this time but would be more than willing to pay 1 months rent somewhere else for each of them. Does this sound like the best option during this time? Thank you!