All Forum Posts by: Randy D.

@Mike D'Arrigo

Conventional financing Such as ?

@Dave Spooner

Yes I put in some info to get a quote from a popular online mortgage co. They wanted 6-7k for all the fees. Seemed kind of steep for a 200k house

@Dave Spooner

I own the 2. I don’t live in either. 1 is being rented. 1 is a horror show that I’m renovating.

Hi.

I’m looking for some advice on how to proceed with purchasing my next rental property.

I just finished my first property and started renting it. I purchased a very cheap blighted property from the City that I’m currently working on in my spare time. I would like to get moving and take some calculated risk and purchase a turn key property. Somewhere in the 75k range. I have about half that in the bank. I have that amount in equity in my primary residence and the first rental is owned outright is worth about $60k.

I have a LLC. Should I get a business loan, a personal loan, Heloc ? Any advice helps. Thanks

& I’m not exactly risking the farm here so if you’re going to say “wait around and cash flow it” ... yeah I get it But I’d like to get the ball rolling on having multiple tenants.

Hi!

I turned a blighted property into my first rental property. I formed a LLC. What type of insurance coverage do I need for the new LLC and for the property ?

Right now I have a cheap vacant dwelling policy but will be changing it soon.

Also I plan to do construction projects under this LLC. Not sure I will need a separate type of policy if it's just insuring a rental property LLC vs a LLC that also does construction

Let me know. Thanks !

@Billy Daniel why do they require a brokers license?

Hello,

I live near York, PA. I’ve been doing general construction and property maintenance for 15 years. My wife and I flipped our first property and plan to rent it. I would like to start my own property management company which offers full service maintenance.

Started researching and to be a small property manager you need a broker's license ? Can anyone confirm this ? I do not plan to sell or list property on the MLS.

Any advice helps. Thanks

Hi, I’m just starting out in Real Estate inventing. I live near York, Pennsylvania.

I have been doing general construction for 15 years. My wife and I flipped our first property and are planning to rent it as soon as the city reopens their permit dept.

I work with a lot of insurance claims and deal with a lot of large scale property managers with 1,000s of properties.

I think I have what it takes to be a property manager and also offer full service maintenance. I could essentially pay myself for work done out of the rent, on-top of the 8-12% fee.

I started looking into the local laws for starting a SMALL property management company. There seems to be a lot of overlap with real estate sales. You have to become a licensed Broker. 240 hours of classes. ..accumulating a total of 200 points under a system established by the Commonwealth which designates points for certain transactions. Seems like a lot of unnecessary hoops to jump through just to manage a rental property.

I don't want to sell real estate, I do plan to advertise it but not on MLS. Do I need to be a broker just to post a for Rent sign in PA? Help !

Is anyone here a small property manager ? Is it even a viable strategy to be small scale PM or is the money in the mass numbers ? Too big of a risk for little return?

Thank you