All Forum Posts by: Rasheed Mcdaniel

I just purchased my first duplex in Delaware county in March. The realtor I worked with was amazing, I'd be happy to make an introduction. 

Pm me and I'll give you his contact info. Happy shopping

Hello @Joseph Scorese

I just acquired my first rental and am also looking for a good cpa to replace using H&R block. Could you also send me the information. Thank you

hello everyone I am a new investor in the Philadelphia / Delaware county area. I just closed on my first owner occupied duplex on March in Delaware county just outside Philadelphia. Is there anyone in this area that knows of any rea's close by and maybe some good area vendors I can contact. 

Thanks in advance. 

@Lucas Hall hello,

Thanks, I completely forgot about avvo, and I see their commercials all the time. 

@Matthew Kreitzer great. Thank you,  I'll look into that shortly. 

@John Fleming thank you for your timely response and suggestions! I will contact them both today. 

Can anyone recommend a good lawyer in the Philadelphia/ Delaware county area of PA? I'm a week away from settlement on my first property and I want to get a property management company set up to self manage. Please and thank you.

@Joe Mulcahy yes I am defiantly looking to have the tenants pay as much as possible 

Originally posted by @Matthew Paul:

I would go to gas water  and electric .  At the least put in electric hot water downstream of the boiler   that way in the winter the boiler feeds hot into the water heater , and in the summer turn the boiler off 

Thank you for responding so timely that sounds like a Great idea

hello everyone i am new to the business investing in Philadelphia, PA and the surrounding suburbs. I am currently under contract with my first rental property due to settle within a week or so. The numbers look good (in my opinion) even tho It will be owner occupied for the first year ( $110k selling price, $900 1st floor unit, $125 garage rental, and another $800 2nd floor unit once fully rented) the taxes are high at $5,600 a year. Total numbers are $1,200 monthly payment including mortgage insurance and escrows, and $1,025 coming in with me living in the second floor unit. 

Two days ago i found out just how much the existing oil based heating and hot water systems will cost to operate (which i had no idea about). I was quoted $400 a month average for oil deliveries during the winter months and a additional delivery maybe two to keep the hot water going during the warm season. This basically  takes my monthly from $1,200 to $1,600 as they are both covered by the landlord currently. 

This has led me to search for other methods of heating and ways to projects costs back to the tenant and in doing so I have narrowed the selection down to either converting to natural gas or installing a ductless heating AND COOLING system or systems. Both seem to have great pros and cons. My overall question i guess is: would it be best to convert everything over to gas or should I install the ductless system and use it as the primary heating and cooling source? Secondly, If that were done would it be best to keep the existing hot water system running on oil or should i convert to electric hot water as well?