All Forum Posts by: RJ Peralta

Shalom Brandon!

First of all what kind of a sale was it?

If it was a foreclosure or short-sale, the seller always makes it very clear that the sale is "as-is", so they cover their butts from this sort of thing with the buyer. Did you ask the seller for money for some of the repairs that needed to be made or did you ask for a lower price based on the inspections?

The thing about sellers in Real Estate in any market is that you would have to litigate in order to prove that the seller indeed knew about these flaws... and that my friend is pretty tough to prove.

That's why I was blessed with a friend of mine who is a contractor, he tells me exactly what needs fixin' and what may appear to be a disaster but be only a simple fix, when walking through a property. 

Hope you learn from this and find recourse.

The cameras are all on the outside of the property, so privacy wouldn't be a problem. On top of that I will give the tenants access so I remove myself from the role of "monitor" and let them call me if, and ONLY, if something fishy is up.

Since this last post I have done some rethinking and will only offer the tenants free wi-fi. The logistics of monitoring the cameras I didn't think through long and hard enough.

Hello and Shalom to all members. 

This question is specifically for seasoned investors in the Lehigh Valley, PA. I have a couple of rentals in Allentown (2 SFR's in center city, one in South Allentown) and a couple in Easton (1 duplex and 1 SFR).

I wanted to know, since I started using the calculators on BP, how do you figure out the average vacancy rates, annual income growth, PV growth, annual expenses growth, etc, in our specific market?

Thanks in advance!!!

Superb discussion. Yet another way to make sound financial decisions and make a TON of money through Real Estate. Thanks @Mark Allen.

Good morning and Shalom peace to all.

I just finished rehabbing a 2 unit I bought in Easton, PA. The neighborhood is up and coming and the price was right. I decided to install wi-fi cameras in the property to monitor and to give access to future tenants for peace of mind. The wi-fi is really cheap here about $60 per month and I was thinking about offering that as an incentive to my tenants but I spoke to on of the installers and he said multiple devices accessing the network would slow access to the cameras and that's the last thing I need. So I will only have wi-fi on my properties for the cameras since I can block all other access to the network from any device to the router it won't be hard at all. 

I know how to install the cameras and set up the network so it's cost effective for me.

Any thoughts?

Thx.

Pay connection charges or not get paid the agreed amount from your tenant in a timely manner....

I think you'll pick much more wisely next time.

Yeah. Property taxes in NJ are insane. I have properties in the Lehigh Valley area PA. Not that far from NJ and I find anything over 15% of my gross in taxes just egregious. I currently pay anywhere from 8% to 12% on my properties. The rents are around $1100 for a SFR around here.

Hi and blessings to all. I am in need of a good handyman/contractor (or team) that can maintain my investment properties (all SFR's to this point), is familiar with the building inspectors in the Lehigh Valley, knows electrical, plumbing, drywall, etc; and can do remodeling if necessary.

Hi James hope you succeed in all your investing goals. Let's connect!!

Shalom!

Thanks for sharing. 

Let me tell you that I was at a point in my life where I had no job, 2 kids credit card debt up the ying yang and a very serious legal issue that set me back 6 years. I lost my father to drinking and my brother passed away in 2013.

As I write this (thanks to the blessings of my Creator) I am on a flight back from Ft Lauderdale with my mom, going to close on 2 rentals this Friday, met face to face with wonderful people through BP and I am securing financing for a 4 unit and a duplex. Life is a marathon of ups and downs. I am only 33 and I've faced more challenges than people twice my age. So believe me when I say that if you just hang in there and have faith, you will find your way. 

If you ever want to connect let me know.

RJ.