All Forum Posts by: Shawn Washington

 @Bob Stevens is that for a 2 bedroom on the West side?

 Hi @Sino U.,

I'm an agent license in PA & NJ. I own properties in Philly, Cleveland and other areas. I can breakdown the pros and cons of each area to help you with the decisions. If you're interested let me know and we can schedule a call to discuss further.

 Hi @Karim Elahi,

I'm an agent and investor in Philly. I can assist you with investing in the area. Let me know if you would like to schedule some time to discuss further.

@Serina Bellamy, Inspectors would fail items that were previously passed during prior inspections. They would withhold rent for minor items that were caused by the tenants. Ex: tenant daughter (that wasn't on the lease and shouldn't have been residing in the property) broke one of the railing spindles and didn't notify me. During inspection they found me at fault and withheld rent for 2 months (that's how long it took to re-inspect). It passed re-inspection but they only paid me for 1 month. Told me the violation wasn't corrected in the 30 days required timeframe (yes you are correct, the repairs were done in time but they didn't come out to confirm). 

One of the best was when they told me the radiator in the kitchen is warm and should be hotter. I used the radiator key to let the air out and 10 mins later the radiator was hot. Inspector refused to check it even though he was still in the property finishing up the inspection. They withheld rent for 3 months for this one (time it took to re-inspect). I received 2 months after re-inspect with the same excuse. I had multiple cases like this for several of my properties. This was about 5 years ago and I hear it's much better now. 

I also have multiple tenants in the Ohio market that are part of the voucher program (CMHA & Eden). My experience has been good the past few years. I make sure I screen each potential tenant thoroughly (background and credit checks) and require references. This process has been working really well for me. I use to rent to Section 8 in Philly but the program started to be too much of a headache. 

Realtor® | Licensed in PA & NJ

Hi @Jacob Sherman,

I'm a Realtor that works with a lot of investors. We're always looking for good lenders to work with. I'm going to send you an email to get more information.

Hi @Nick P., 

I'm a Realtor licensed in PA & NJ as well as an investor in single family and multi-units in several states. I'm happy to assist. Lets connect and discuss further. 

Investment Info:

Sixteen multi-family Apartments out of state

Purchased Sixteen units out of state

What made you interested in investing in this type of deal?

The monthly rental return

How did you find this deal and how did you negotiate it?

Found a Realtor through my brokerage

How did you finance this deal?

Conventional loan financing through a bank

How did you add value to the deal?

Completed upgrades to individual units that allowed rents to be increased

What was the outcome?

Increased rents provides greater monthly return

Lessons learned? Challenges?

Twelve of the Sixteen units were tenant occupied. Many of the tenants were not screened properly and caused issues with non payment, evictions and damaged units. Normally I require all units to be vacant prior to purchasing which allows me to screen each tenant thoroughly.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with a local Realtor that did a great job. I've used the agent multiple times with additional purchases and continue to use them.

Thanks for the info @Kevin M. good to know. I don't have any evictions pending but I'll pass along this info to other investors/landlords/PM/ETC.