All Forum Posts by: Nathan J.

Hi there fellow BP'ers. I'd love to hear your experience of the following areas

I am looking at a tri in the Haddington area near Callowhill and N 61st street in West philly.

I am also looking at a duplex in the Fern Rock area near N18th street and West Rockland street.

Do folks here have educated opinions or experience with these areas. My goals are stable cashflow with potential appreciation 10 years down the road

Thanks so much

Nice work @Troy Sheets

You are turning into a multi-faceted real estate entrepeneur

I tried Valley Green bank. Their commercial product was a 5 yr loan with 25yr amort. After 5 yrs it would need refinancing. High 5% rates, plus 1 point plus all costs. They basically said they were moving away from these types of investments due to their portfolio being overweighted here.

I also tried Northwest Savings Bank but they no longer cover philly

@Shawn Washington & @Michael Badin would love to hear if you find any good ones...

@Nathan Zhivalyuk & @Ron J.

 how have you guys found the Frankford area? Low crime? Family area? Easy to rent? 

I myself have stayed away from section 8 so far. Though i have focused mostly on Tacony, Wissinoming, Holmesburg so far.

Hi @Asif Gill - how did you do with your Frankford property? How do you think that area 19124 compares with Tacony or Holmesburg? I started to invest in that latter area also mainly as buy and hold

Hey Damian, sorry for the delayed response. PM me and I will give you my experience so far.

PM me and i will give you the guy I use

thank you all for the feedback. It's early days for me yet but I will keep a close eye on them. On the plus side they do really seem to care about the tenants and provide good advice about local licenses and protections.

I recently rented my first property. I got a call tonight from my property manager stating 3 things:
a) There was no heat coming from the radiator in one of the upstairs bedrooms
b) the water in the kitchen was dripping slowly
c) A couple of the electrical outlets were not working

I would have expected that the PM would have had someone bleed the radiators to solve a) since that was obvious, and have one of their staff check out b) and c). I would have expected them to do this before calling me. Instead they called me and I told them to have someone bleed the radiator, and then I arranged for an electrician to come out and a plumber also. Shouldn't the property manager take care of all that without calling me?

What do more experienced folk think here?

Oh - and they charge me 10% of collected rents, plus one month to place tenants

I appreciate folks perspective here. Thanks in advance

I just started with Brown & Mckinney. They are slightly more expensive but had heard more good things about them.
Early days yet for me so I'll reserve judgement. Contact me in a month or two and I'll give you my thoughts