All Forum Posts by: Saaj Patel

Keith, nothing worth it will reach the 1% rule in Philadelphia proper (common cashflow metric).  Big money has entered the market and affordability is super low. I have been looking into other strategies to pivot and still keep the ball rolling. 

Would love to chat, if you want to bounce any ideas back and forth. 

Shadowing what others said set up an LLC and put all commissions/costs through this business account. I went through this process last year and can give you some guidance if you ever want to chat.

Nicholas, 

This is not a difficult process. The most difficult part is finding out where L&I is hiding in the main city building. 

Nowadays, they will help you online via Zoom as well. Costs $200 and you have to renew this yearly. 

I see some people saying that inspectors won't check up on this - recently I met an old L&I employee who is of that mindset, however, in the event that something does happen to your property/renters, then the license would HAVE TO be active. 

Hit my DMs if you want to bounce some ideas back and forth. 

I use the avail.co application. it is $55 and I have always pushed that fee on the tenant. I operate in Philly so it is a bit more important to screen tenants that the usual territory. 

With Avail.co, you get the basic renter's profile, credit report, criminal report, and eviction report. All customizable to fit your wants/criteria.

Hannah, Love the drive to get a deal done even in this environment via seller-financing/sub to. A lot of people turn away from this because of the complexity (which in reality - it is not as complex as people make it out to be)

I have some experience, I have done 1 seller-financed deal for my personal portfolio. You'd be surprised with how many sellers are attracted to this type of sale because they receive an annuity. 

Let me know if you want to bounce any ideas off of me. I'm always available!

19121 has some that may fit your criteria

If your variables are pretty accurate then this looks like a good deal. I would take it. 

What market can I find something like this in? :)

Does anyone have any visibility on rental rates? I have not seen much depression in the 19121 Zipcode

Echoing what others have said, I would go FHA 100%. Definitely allows you to recoup your original investment quicker.

Hello, 

does anyone have an opinion on the Darby, PA market in the next 5-10 years? Looking into a potential rental investment property.