All Forum Posts by: Steve Johnson

Thanks very much to all of you for your comments.  

Steve and Brian, thanks for your input.  It is much appreciated.

Good Afternoon Investors,

I am a new investor and am assembling the pieces in preparation for my first deal. My question is about closing costs and how to factor them into the project cost total. I understand that closing costs are made up of 2 main areas: one time fees and prepaid/escrow items. When adding closing costs to the total project cost, is it correct to add both the one time fees and the prepaid/escrow items or should I just be factoring in the one time fees since the prepaid/escrow items are essentially recurring charges that will be expensed monthly below the revenue line? It makes a material difference in the ROI calculation if done incorrectly, which is why I ask. If anyone can assist with this question I would appreciate it.

Steve

Good Afternoon Investors, 

I am looking for a good title company in the suburbs West of Philadelphia.  I am currently looking at 1-4 unit properties within 35 minutes of Pottstown, PA 19465.  

Does anyone have a recommendation?

Steve

Good Afternoon PA Investors,

I am a new investor and am looking for a good handyman or handywoman with a good reputation who can perform as-needed maintenance/repair tasks for single and small multi-family properties (1-4 units) in Southeastern Pennsylvania.  I live in the Pottstown area and am looking to invest within 35 minutes of 19465.  Can anyone recommend a good handyman or handywoman?

Steve

Good Afternoon Investors,

I am a new investor and am assembling the pieces in preparation for my first deal.  I am looking for a general contractor with a good reputation who can assist in estimating the renovation budget for single and small multi-family properties (1-4 units) in Southeastern Pennsylvania.  I live in the Pottstown area and am looking to invest within 35 minutes of 19465.  Can anyone recommend a good G.C.?

Steve

Good Afternoon Investors,

Is anyone out there using a Self Directed IRA to invest in real-estate? If so, what are the primary benefits? My understanding is it provides asset protection from the outside, but not from the inside in the case of a tenant winning a judgement.

Steve

Good Afternoon Investors,

I am currently looking for my first deal (1-4 units) in Southeastern PA and have a question about residential leases.  I have a copy of Brandon Turner's lease that can be found on Bigger Pockets, but am unsure if this lease is legal and binding in the state of Pennsylvania or if it is missing statutory language.  As I understand it, leases are state specific.  I believe BT lives in Washington state.  I like his lease due to its clarity and comprehensiveness.  Are any of you using BT's residential lease format?  If not, what format are you using?

Steve