All Forum Posts by: Patrick O.

They're a perfect offset to the gray. Especially at $1 a sq.

Wow. Looks really great. I love how the light gray makes the white trim and fixtures really pop. Are the floors wood look ceramics?

I think it sounds like a great idea. I would try to get something that's either very popular in the area or something the area is known for. As for the others who are saying run it like a business I'd say that without tenants there is no business. The biggest drains on your investment are vacancy and turnover so if a $20 gift solves that go for it. Hotels give complimentary breakfasts and leave chocolates, etc.

Sorry Booker, didn't see your response. Personally, I live in the city where gas is prevalent and I have gas. I am an HVAC mechanic by trade though. Oil-fired units are more prevalent in areas where gas wasn't available when the homes were built. They do require more maintenance than gas. I would shop around with the local companies that supply oil. Many of them will offer you a reasonable price on maintenance if you sign a contract with them to supply your oil. I would shop around and always research any repairs they recommend. Another tactic would be Craigslist to look for a local self-employed HVAC mechanic who specializes in oil and is local. Maybe a guy who does it as side work.

Hi Joseph. Sounds like an ambitious plan. Curious to hear more details like what area you plan to do your flips in and if you're planning on doing them yourself or contracting them out. If you have any questions on the construction side let me know. Best of luck on your flips and keep us updated

At the top of the tank, you unthread a cap. Inside, there is a dipstick similar to checking your oil in your car. Also, I'm pretty sure there's a stamp somewhere on the tank that will tell you how many gallons it holds. Just do the math.

Considering your kitchen will likely be the most expensive room in the building I'd have major concerns. My thought would be to pay your contractor to walk through the property with you before making your deposit. I'd rather lose an hour of salary to him then potentially lose a whole lot more on a brand new kitchen deteriorating. It's a really big investment, protect yourself

Trust the numbers. If your math says the property makes sense go for it. That's what you were saving for in the first place. If rising interest rates are scaring you I'm sure they're scaring other prospective home purchasers. That should only make it easier to rent. Best of luck

Thanks. That's what I was thinking but I did a quick google n saw people saying you could do it but that it's more difficult since 2007. I'm just trying to avoid emptying my savings by being forced to put down 20-30% on a new home. 5-10% would be ideal.

Hi, about 3 months ago I bought a 4 bedroom SFH in the Roxborough section of Philadelphia. Before moving in I chose to make some upgrades to the home such as adding a 2nd bath, fresh paint n fixtures, etc. During these past few months working in the property I've come to the conclusion that the home is a little big for my liking. I've put out some feelers and have a tenant prepared to rent the place for a minimum of 18 months. I would like to buy a smaller home in South Philly. Wondering if I would be able to get a home loan on it or if I would be forced to purchase it as an investment property? Could I count income from the rental on my new loan app? If anyone has any experience with this situation or advice it'd be greatly appreciated. Thanks