All Forum Posts by: Melissa N.

Hey Noman, I don't have one I can recommend but have you checked Angieslist? We use people on there all the time. Good luck! 

Hello everyone,

We are looking for a small apartment building (over 5 units) in the Philadelphia area. We are starting our initial research of Philly and would love to talk to commercial agents, or anyone that knows the area well. Thanks BP family!

I think, and it's only my opinion, that it depends on the area in Charlotte. There are obviously very large apartment complexes with lots of amenities in a lot of areas. Those are somewhat your competition so you have to price below them and hopefully offer something they don't - allow pets, more parking perhaps, etc. 

What area are you looking in?

I like the idea of renting your current and buying a new one (perhaps a duplex, tri, or quad if that makes sense for your lifestyle). You'll get a better interest rate and because you are willing to live there I'd think you'll be less likely to end up in a war zone and you'll get quality tenants. 

Everyone is speculating the next hot neighborhood in Charlotte. But nothing is certain. To me, that seems like a safer investment with great returns. Let us know what you decide!

We are sort of in the same position. Looking for over 5 units and since philly is drivable fro NY we are considering it. Are we too late to the party? Looking for long term buy and hold, 200 per unit in cash flow, and in a good neighborhood. From our initial search, seemed do-able but we will have to start driving down to become familiar with different areas. Any thoughts? Areas to start looking in first?

@Syed I own a SFR in Charlotte that we rent. I wouldnt trust the Zestimate. I find it too low in many cases but you can do your own comparison using Zillow, rentometer.com, or rentjungle. You can also just search Craigslist.

They call it "house hacking" and it can be an effective approach. You'll get a low interest rate and help paying the mortgage. Be careful with townhomes,IMO, because of monthly fees. As your rents go up so can your HOAs and they may outpace gains.

Good luck! UUsethe rental property calculator and there is a deal analysis forum too. They are great! 

Good luck and feel free to reach out.

@Bianca Cooper @Alex Franks Thank you very much. I think we are pretty much terrified of SC now haha but Bianca I will contact you via PM once things settle down. 

@troygandee can i pm you?

Welcome Patrick!