All Forum Posts by: Paulette Midgette

Hello, I am an investor from Philadelphia, PA. I have had success in the area for a number of years. Because it is such a hot market, home prices have skyrocketed, competition is fierce, and the local political environment for landlords has made it difficult for me to maintain my affordable rentals.  All this is pushing me out of Philly.  I have been researching Norfolk (and surrounding area) since the pandemic hit.  I have tons of questions, particular to my real estate investing goals...affordable rentals, that aren't addressed in the posts I have seen.

I would like to connect with a local agent...meaning someone who lives in the area and has done so for 10 years or more.  I want an agent who really knows the market, the good the bad and the ugly.  I want an agent who stays abreast of the economic development going on in the area.  I want an agent who understands the job market in the area.  I understand there is huge military presence, but what else do you have with respect to major employers who can provide citizens with livable wages?

Just so you know I am a serious buyer: I purchased by first home at 25 years of age. I paid the home off in 20 years and am now living mortgage free. In between the purchase and payoff, I purchased and held a triplex in Philly and flipped 10 homes.  Before Philly got crazy I was flipping a couple of houses a year.  Now I am down to one buy and hold, a duplex that I purchased with cash.  I work a full-time job and use my salary to fund my real estate purchases.

Are you the agent I am looking for?  If yes, can you provide me with a brief summary of your market and how would you approach a real estate strategy for buy and hold rentals that would be offered as affordable rentals?

Hello BP,

I am in need of a recommendation for a GC for a house I am working on in Philadelphia.  General Contractors on the site, if you are reliable and have the time please IM me.

Thanks all in advance!

@Josh Caldwell, I hope your are wrong on this one.  Thanks for the reply!

I received a text message yesterday from someone saying he represented Helpful Home Buyers.  The message was asking if I was interested in selling a property I own in Philadelphia, PA.  It annoyed me because I get too many unwanted sales text as it is, but I was doubly annoyed by the familiarity expressed in the e-mail.  I asked that I be removed from his list and never contacted by phone or mail again.  

Is this the new trend, soliciting properties by text?  

@Maneesh Joshi, I am going through this permit issue right now.  Here is my experience, hopefully it will provide some insight and information to use moving forward.  I am currently rehabbing a home that needs rehab but nothing major.  I am installing a new kitchen.  There was some damage to a plaster wall in the kitchen.  Because of brick pointing issues part of one wall in the kitchen plaster fell away from the wall.  I believe in doing things right and not waiting from a contractor or someone else to educate me about codes.  So, I read the Philly housing codes, and my interpretation was the wall repair was an ordinary repair...hanging drywall over the the lath where plaster use to be, so no permit needed.  Well, I had a run in with a neighbor and he called L&I on me. The short of it, I was cited for hanging drywall in the kitchen without obtaining an alteration permit.  Upon receiving the stop work order I paid L&I district office a visit to understand why the permit was needed.  Again, the short of it, the inspector who would be inspecting my property is different than the person who visited the property and determined the work needed a permit.  So, my inspector could not say if I had a case or not based on the code I cited to him.  He did agree with me that the codes can be confusing and what one inspector considers an ordinary repair another may not. He recommended that I pull the permit and he would come out and help me through the process.  I also learned that in Philly you need a permit for just about everything even, changing out a toilet in the bathroom.  

The fee for pulling the permit after receiving a violation is double the price of the permit.  The fees depend on how large your project area is.  I was advised by a couple of seasoned contractors to continue to do the work and pull the permits after everything is done (which I am not doing).  They recommended this because once you have a fine, you have a fine, so why not continue the work.  But of course this would be for things not related to electrical or major plumbing.  In fact, one told me he doesn't pull permits for things such as my drywall issue until after all work is done, and he does so knowing there will be a fine.  He would rather pay the fine then hold up the work for weeks waiting on L&I to come out and ok the work before continuing.  Just a note to your question as to why people don't always pull permits.

Hi @Melonie Dickson, I live in Philly as well and purchased a homeowners rehab policy just a month ago.  I agree with @Michael Ablan in that going through an insurance broker may be the best course of action.  I called a number of policy agencies which quoted me some crazy rates (for 6 - 8 months)before deciding to call my broker I have my car, rental, and personal homeowners insurance with.  I received a quote for the rehab that was comparable to my rental and home.  My agent knew some things to employ to get me such a great rate (1 year policy).  Once my rehab is done and sold, I simply cancel the policy and will be refunded the difference.  Please feel free to PM me if you would like more details and contacts.

@Ahmad Nijim this type of issue is covered under the US EPA.  I have provided a link below to help you determine if the mold may require professional remediation or if you could clean it up yourself.  This would depend on the type of mold.  if you suspect the mold is toxic, you cannot address this yourself this would have to be professionally remediated and air quality tests performed.

https://www.epa.gov/mold/mold-cleanup-your-home

Thank you @John Knisely.  I appreciate the recommendation!

Hello All,

I need a reco for brick pointing and new steps.  Do you have one you have worked with and found to be exceptionally good (showed up on time, the work has held up to time as it should, left your place clean, etc.)?

Thanks!

Interesting article directly related to this topic.  I highly recommend all renting in Philadelphia read.

https://www.inquirer.com/philly/business/energy/3rd-circuit-throws-out-landlord-philadelphia-gas-works-liens-lawsuit-20180720.html