All Forum Posts by: Mason Hickman

@Victor Noriega What was your response rate like on the direct mail? Do you know how many mailers you sent to that owner before they responded?

I agree with everybody else. DON'T DO IT!! With no skin in the game, you never know what you are going to get hit with for utility bills. The name of the game is predictability. The more predictable your cash-flows, the better off you'll be. Therefore, utilities are the tenants responsibility. 

@Fred T.  I agree that you want to protect any of the utilities that can result in a lien on the property. In your experience, have these extra deposits resulted in a lower number of applications? Personally, after first, last, security my last rental move in bill was about $6,000. To tack on an additional $X for utilities may deter some folks. Your insight is helpful. 

What utilities will you be paying for that goes into the $13,000 you mentioned? This seems highly unlikely on a 10/11-unit if you are going to be covering heat/electric/water/trash sewer. 

I would dig deeper in to the cash collection of rent, as well. Poor records in that area could be a red flag of the tenants that you want to keep. 

@Jennifer Hollstein 

It sounds like you're on the right path. Keep it up!

@John Geldert 

Hey John, 

Sorry for the slow reply, I've been traveling for work recently. I did a couple quick searches and Saylorsburg seems to be a place worth looking more into. I saw you have a construction background, so a place like this https://www.homepath.com/listing?listingid=4512889... would be perfect for you...

@Ryan Craig 

I would love to get into the West Chester student rental game, but the prices seem outrageous. Since there aren't any more student rentals being created, it keeps the value up on those that have the permits. Since the school is trying to expand, I wonder how the city is going to change regulations to accommodate the additional students. 

Does anybody have a good website or file that shows the census data by zip code? I've started to compile information from the census and american factfinder, but it is not all that user-friendly and wanted to see if there are any shortcuts.

Thanks!

hey @Bill F. 

Welcome to the site. I live up in west chester, pa and have found it hard to make the numbers work on properties in the area. What amount of rent are you getting on your condo compared to your purchase price? Is it clearing the 2% rule? 

Also, what part of Philly do you currently live in? I've been trying to settle on a good farm area and any input on the areas help.

@Ryan Craig 

Hey Ryan, 

I'm right around the corner from you and was looking at the same markets due to their low entry price; have you had any luck in researching Reading? What other markets have you been looking in to? I have read a bunch about the other inexpensive areas but haven't decided on a farm area, yet. Pottstown is another one i've considered but some members on here have denounced it, so I am still researching. Feel free to PM me to discuss, I've been doing quite a bit of research...

Thanks @Ian Hoover ,

I am curious what Keller Williams' desk fees are etc? That is, if you don't mind sharing...

Feel free to PM me, as well. 

Thanks again!

@Raquel L. 

Raquel, 

Thanks for all of the great insight into the Pottstown area. This was part of my "deep dive" on the area and realize the prices you can get in the area reflect the amount of headache the town will be. 

Thanks again!