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All Forum Posts by: Matthew Fleming

Matthew Fleming has started 7 posts and replied 25 times.

I have 4 units. I give my tenants deposit only cards and it works for me. Only thing is online you can only see the numbers of the cord of who deposited money and not the name on the card. But all 4 units have different rent so it's easy for me to see. I hope this helped.

Post: Windows for a rental in Philadelphia

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5

It's time for new windows at the rental property. Does anyone have any suggestions? I'd rather deal with a window specialist vs general contractor.

Post: New member from Philadelphia

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5
My first property was a live in rental. It's a good way to get started. Good luck.

Post: Using Trulia, Zillow, Redfin, Realtor, etc for comps

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5
Originally posted by @Mark Redmann:
Originally posted by @Matthew Fleming:
Originally posted by @Edward B.:

It is OK, but not great. Your information will likely be somewhat dated and less detailed to what the MLS will have. It is a good way to get an idea of value but you probably want something more solid (CMA/BPO/appraisal) before you do a deal. Of course, this assumes that you have the knowledge and expertise to evaluate the comps. If not, use a realtor.

 I wouldn't say I have expertise in evaluating comps, but I generally go by area (Usually inside of a zipcode), sq ft, beds, and baths. I use the AVI Calculator & the Philadelphia department of revenue websites to verify if the homes were recently sold and the accuracy of the sq footage.

 Philadelphia is VERY block by block. I live in 19146 (graduate hospital) and the comps for 19146 (point breeze) are quite different. even inside of "point breeze" the comps can differ drastically. 

 Philly is definitely a block by block city. I see that you wholesale. What tools do you use for comps?

Post: Using Trulia, Zillow, Redfin, Realtor, etc for comps

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5
Originally posted by @Edward B.:

It is OK, but not great. Your information will likely be somewhat dated and less detailed to what the MLS will have. It is a good way to get an idea of value but you probably want something more solid (CMA/BPO/appraisal) before you do a deal. Of course, this assumes that you have the knowledge and expertise to evaluate the comps. If not, use a realtor.

 I wouldn't say I have expertise in evaluating comps, but I generally go by area (Usually inside of a zipcode), sq ft, beds, and baths. I use the AVI Calculator & the Philadelphia department of revenue websites to verify if the homes were recently sold and the accuracy of the sq footage.

Post: Using Trulia, Zillow, Redfin, Realtor, etc for comps

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5
Originally posted by @Angel Rosado:

@Matthew Fleming I would suggest using an Agent. An agent will be able to tell you information about the market that you will not find on these sites. These sites have a lot of the MLS listing but NOT ALL and sometimes the listings are missing information such as lot size. IMO if you find a good agent, he will be worth his weight in gold.

 Thanks for the advice. I'm thinking I might have to find another agent. Sometimes he doesn't move fast enough for me. I already passed the test, so I need to become my own agent. My agent does come through sometimes though. I generally use these sights when I'm casually researching markets that I'm familiar with.

Post: Using Trulia, Zillow, Redfin, Realtor, etc for comps

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5

Is it okay to use the recently sold function from the above mentioned websites for comps? or should an investor only use a real estate agents comps from the MLS?

Post: Laminate Flooring

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5

I used 10 mm with the pad attached it worked great for me. But if you are about to cover old hardwood, you should consider refinishing the hardwood.

Post: Purchasing using credit cards

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5

I'm thinking about using this strategy for my next investment. You should be able to tell how much the bank is going to give for the ARV refinance based on recently sold comps right?

Post: Diversified Investors Group - South Philadelphia Sub Group

Matthew FlemingPosted
  • Investor
  • Philadelphia, PA
  • Posts 26
  • Votes 5

I will be there. I am a DIG member and I'm looking to learn more about wholesaling or Whole-Tailing lol.