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All Forum Posts by: Eli M.

Eli M. has started 132 posts and replied 221 times.

Post: 2% rule

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12
Originally posted by @Charles Cline:

the rent needs to be 2% of the purchase price of the property

 what does this formula represent? why does the rent have to be 2% of the purchase price, what does it show? where can i read more about it?

Post: Taking My First Step in Philadelphia - ADVICE WANTED!

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12
Originally posted by @Troy Sheets:

@Phil C. What areas are you looking in? I think you've got a solid plan with MFH's that need a bit of work, however, if you buy in the wrong area you'll be more likely to have tenants who will not care for your unit as much as you'd like (trash it), you'll spend an inordinate amount of time managing them (babysitting, chasing them for rent, evicting, repairs, noise complaints, pests). I wouldn't want to manage low or lowish income units from afar. Yes, you can get great returns with low income units but the trade-off is the time and aggravation that goes into them. If you're going to use a management company, will they even manage in the area you're looking to buy? Many companies won't take low end rentals on.

 Troy, thank you so much for your advises. which areas of mayfair/frankford and oak lane would you recommend for single-home rentals and for flips? i hear the upper part of oak lane is a hot spot now, is it true ? thank you in advance 

Post: Emerging Markets for SFR purchases?

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

how can i get the right ratings of a property ?

Post: Depreciation

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

Should i take into my return on investment calculation the depreciation of the renovations which i did and the appliances i installed, once the tenant moves in and starts using it?

Post: House with a recently moved paying tenant

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

Hey, would you know what is the best strategy to sell a house with a good, paying tenant?

Post: section 8

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

hey there, 

Is it possible to know in advance, at least, approximately how much section 8 will pay in rent on a monthly basis?

Thank you in advance

Post: Brokers for investment properties

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

hey there,

i am about to sell a house of mine with a good paying tenant, i was wondering should i give it just to any broker to sell or there are brokers out there who specialize in that sort of sales ?

Post: Auctions

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

did you hear something about the fact that one can't resell a house which he bought on an auction for year, or something like that the original owner could buy his house back even after the shrief's auction ?

Post: Auctions

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

Hey, could you please advice me what is the best and the safest way to buy a house on an auction?

what are the advantages and disadvantages of buying a house in a auction in Philly ?

thank you all in advance

Post: Multiple family houses

Eli M.Posted
  • Investor
  • Brooklyn, NY
  • Posts 231
  • Votes 12

what would you say the pros and cons of having let's say one 3 units home or 3 single family houses ?