All Forum Posts by: Scott Seydor

Quote from @Drew Sygit:

@Scott Seydor

@Scott Seydor
Regarding S8 being great for a 5 bed home, not in our experience. What type of family has that many kids yet isn't financially stable? Add in that it'll also usually be a single parent household. We can show you pics of trashed homes from similar S8 families.

I’m not really keen on S8, but at $300/mo over market I might consider rolling the dice to see if I could get a good one in there.

Quote from @Drew Sygit:

@Scott Seydor

…We've not had good experiences with 5 bedroom homes for the simple fact that not a lot of families need that many bedrooms. It's a basic supply & demand equation, how many families need 5 bedroom homes? Not many. 

4 beds seems to be the cap before we start seeing a negative impact…

Yep, that’s what I fear and where my head is at.  Technically it’s a 4b, as the 5th doesn’t have a closet, but it’s listed as a 5.  But still. 

Quote from @Theresa Harris:

Have you looked to see if there are similar properties listed for rent or call a local property management company and talk to them?

Not many for rent… definitely no 5 beds.  Turns out there was a county voucher tenant in there and I’m told the county was paying $2170!  Just did a drive by.  Seeing it in the am and expect to be putting an offer in shortly thereafter.  

...that... and my concern that there would be fewer people that would opt to rent a house for $1800 instead of getting a mortgage for $1100.

@Theresa Harris I guess I'm more worried that we lucked out in buying the last place with built-in [great] tenants.  We recently listed our 1/1 (same town) and got tons of interest, but that's an entirely different type of renter.  Because we didn't have to list the 4/1.5, I have no clue what the renter pool is like for similarly-sized houses.  

I'm looking at a large 5/1.5 in a working-class neighborhood.  I'm still very new at all of this, but recently purchased a similarly-sized house in the same neighborhood that came with tenants that just resigned a lease with me for $1,750.  With similar rent, the one I'm currently considering will cash flow.  Given the neighborhood (not a place with a bunch of young people looking to split a place, not a college town), my target audience will be families.  Maybe I'm overthinking this, but at what point does the cost of rent limit my renter pool with people opting to buy instead?  Would I be better off focusing on smaller places with broader marketability?       

Looking to see if anyone has any experience filing for a zoning variance in Pottstown, PA.  Short(ish) story... I recently bought a duplex in Pottstown (first rental property) that came with a detached 4-car garage.  The garage has an unfinished walk-up attic (accessed from the outside) that could easily be converted into another two-bedroom apartment.  I submitted a zoning review application along with a sketch plan of the proposed apartment (I'm an architect) and they just came back stating that the conversion isn't allowed and I'd need to submit a formal variance request.  Specifically, the comments received were:

1. Chapter 27; S319 does not allow for this use.
2. Chapter 27; SSOO.1 two or more permitted uses shall not be permitted on one lot unless
subdivision... (full section)
3. Chapter 27; $500.2 does not allow for more than one principal building.
4. Chapter 27; 5OOO.t.A and $601.4.A off-street parking standards would be increased due
to the change of use.
a. The number of off-street parking spaces was not presented on the application;
however, through past conversations, l was advised that there is no off-street
parking is available on this Parcel.
b. Existing garage spaces cannot be counted towards off-street parking per Chapter
27; 5601.1.
c. 3 residential units x 2 parking spaces each= 6 off-street parking spaces are
required.

It's somewhat annoying that the biggest gripe seems to be surrounding parking and yet they won't consider the four off-street spaces I've already got in the garage?!?

So, if there's anyone out there that has dealt with the Pottstown Borough zoning folks, I'm wondering:  How did your variance request go?  Am I wasting my time, or do I have a shot here?  If I go down this road, do I need to hire an attorney to represent me?  

While the duplex is a homerun by itself, the garage attic conversion would crush it out of the park.   

@Clark Kirkpatrick  Thanks.  I ended up using Jdog (Tim in the Pottstown franchise) and was very pleased with the outcome.  I had a lockbox there, they came and let themselves in, gave me a quote and got it done.  They were great... Veteran-owned business, too.  Once they were done, we got the place cleaned top-to-bottom and on the market last Friday night.  Signed a lease with someone 4 days later and he moves in today!  

Does anyone have a recommendation for a quick clean-out in Pottstown, PA?  The previous tenant left some stuff behind and I'm thinking it won't be gone come the 31st.

Makes sense.  Thanks!