All Forum Posts by: Patrick O.

Just curious, have you thought about maybe partnering up with one of your investor clients on the deal. You could then maybe get into it with very little or nothing out of pocket, gain a little firsthand experience, make a client happy and make a few bucks all with no real risk. But if you’d be comfortable living there maybe that’s why not. Either way, sounds like you’re on the right track and going to do well

It sounds like the only one at fault is you. Hard to believe a first time home buyer would go forward with a home with a leaking roof and not have budgeted for it. They disclosed the damage and you still moved forward. I’m sure that was accounted for in the price of the home. Sounds like you’re just fishing for a way to pawn it off on someone else

I ended up finding someone local. Appreciate your help though, thanks

Hi, I’m looking for someone to help me with doing my taxes and giving tax advice. I’m in the 19128 area in Philadelphia. My apologies if this post isn’t appropriate or is in the wrong forum

A load calculation is pretty much a waste of time on a place that small in square footage. Personally, I find the main reasons for variances when quoting installs are based off of how long the labor will take and what brand and efficiency the equipment is. The reason most HVAC contractors aren’t going to show specific cost breakdowns is because it can be difficult to buy equipment for most folks. Supply houses generally only sell to licensed contractors or certified installers.

Thanks. Appreciate you clearing that up for me!

I bought a SFH a few months back and have been working like crazy to improve the place. I'm thinking that when I finish the improvements I could sell it and make a few bucks. What I really wanted all along was to buy a duplex or triplex but I didn't see any I liked in my budget so I bought the SFH. What I'm thinking is that with the profits from the SFH I could either buy a nicer multi or buy a cheaper one and use some of the profits for improvements. In recent zillow searches I saw some multi's in my area that had multiple garages. I understand that you can use projected rental income from other units towards what you can be approved for but I've never heard anything about garages. On one particular property it would make a huge difference. I'm quite certain they would be very easy to rent out but not sure if lenders see it that way. Any thoughts, advice or shared experiences would be greatly appreciated. Thanks

I’m only guessing from your post and responses about your long-term goals. With that said, it sounds like the first thing you should do is start researching real estate. Narrow your market search. Seems like you’d like to have some cash flow along with the appreciation you’ve been getting. Selling outright would be absolutely foolish due to selling costs and capital gains. After doing enough research in finding the right market for your personal goals I’d then look to find a retiring investor who is selling off their properties via a package deal. I’d then sell the property via 1031 and use the proceeds to fund the package deal. A retiring investor will be far more understanding of the 1031 process and you are far more likely to get discounted properties. It just doesn’t seem like you’re interested in spending all of your time hunting for needle in a haystack type deals given the exorbitant prices in your region

Gino Zahnd Thanks for your input. I think that’s very important as many are scrambling to find a new service while being hesitant over security concerns. Myself included. Wondering if maybe it would be a good idea to have someone of a technical background explain the logistics of what specifically happens to our money. ERentPayment’s post says they have a processor who went bankrupt and then another processor. This seems redundant to me. Also, they claim to insure our money but are now deflecting when it’s time to pay up. I realize you can’t speak for their company, obviously, but maybe an instructional video on your site walking folks step by step through the process their funds go through along with a clear definition of who’s responsible and what insurance will cover in the event of an issue. I know, personally, I feel left in the dark and while I am a big believer in the service you provide I am very hesitant to entrust my funds again. From my involvement in the Facebook chats with others who’ve been affected I believe I’m not alone in this feeling.

There has been an update on their Facebook page that increases all of my concerns. Please tell anyone you know who could potentially be affected in any way to close all accounts with this company and avoid them at all costs. There is almost certainly something criminal going on