All Forum Posts by: Erich Snyder

My wife and just closed on our first rental property in mid December after a year long search. We went the traditional route with a realtor and MLS listings because we felt it was the safest bet as new investors with full time jobs and a kid. However now that we've closed on that deal I'm interested in keeping the momentum going. We live near Coatesville, PA and our first property is in this area. I want to explore creative financing options as we used much of our capital in our first investment property. Looking forward to connecting and learning more as we hope to eventually transition to full time investors in the next 5-10 years.

 I'll be sure reach out if we have to go that route!

@Scott Seydor- It probably warrants a call to the the L&I department at the borough to try and get a straight answer. It wouldn't necessarily break the deal since we factor in management costs regardless of whether we plan to self-manage, but finding reputable PM in the borough would add another level of complexity to the deal.  

Clark-  you're correct. After some more digging, I found the rental application and it only requires a local PM/caretaker if the owner does not reside in the surrounding Tri-county area (Montgomery/Chester/Berks) . Since we live in Chester county we'll be able to self-manage the property.

My wife and I are currently looking a potential deal on a duplex in Pottstown, PA as our first ever investment property. My question pertains to the the borough's requirement for the landlord to be a resident of the borough OR have a "designated responsible agent" that resides in the  borough.  We live about 30 minutes away from Pottstown in near-by Chester County so it is not as though we are out-of-state investor's.  Is there anyway around this besides hiring a property that is local to Pottstown? TIA