All Forum Posts by: Christos Philippou

Literally as I am typing this on my phone, I just watched some lady walk from across the street with a chair to sit in front of my building. Wow

Recently, I have received a few complaints from my tenants at a 4 plex in a not so awesome part of town. We offer affordable places for rent to lower income families. That's besides the point though. We have been receiving a few complaints about tenants being uneasy due to the amount of loitering neighbors and city folk who are literally bringing chairs and sitting outside my apartment. Do I have any recourse towards these people? If I place my own "no loitering" sign, will the police honor this and fine them? Just trying to look out for my tenants here. Thanks!

Dang @Raven Parmer !!! That looks amazing. Really awesome job, wow. I would loveeeeee to buy a construction site and do all the work myself while living it, since I know verrrrry little about being a handyman. I can replace a lightbulb (sometimes), so it would be awesome to learn all that myself. 

However, I don't think my wife would enjoy it much haha. Good luck!

I randomly have thoughts about stopping my 401k with my employer and saving that money to put towards buying another deal, then I realize that would be stupid (for me).

Every employer is different, but if I put in 6%, they put in 7.5. It's so much free money I am missing out on if I don't do it. I am super into real estate now, but who knows if I will be in 5-10 years. What if I hate real estate, sell everything, and don't look back. But the whole time, I wasn't putting any money into my 401k. I don't like the uncertainty, so I am going to continue to contribute until I retire. 

Very true @Luke G. ... I almost did the same right out of college. I would certainly rather be safe than sorry and be over cautious with this though, as it's somewhat out of the norm. I hear NC is a great place to be haha enjoy

@Marc W. I think puts it out well... Why would you sell your primary residence and move without having the job lined up first? That seems really odd... I would require the offer letter.

@Jennifer L. also brings up a good point. He could put 20% down on a rather nice, cozy comfortable home and just move out in 60 days. I'd require some sort of larger-than-normal deposit to ease your mind about a quick turn over

Anything else about Wilmington DE you can share with us @Brian J Peterson ??

I've inquired with the public works people in Wilmington, DE about how landlords separate meters for water here. The guy said it's very costly and difficult to do because you need to tap the main line. If they were to do it, he estimated at least $10k. He said what most people do, is install their own private meter somewhere along the tenants pipes. Then at the end of the month/quarter you just have to do the math to deduct their usage from the total and bill it how you want.

Best option for me going forward is to simply not look at properties that aren't individually metered already haha

Glen Beringer don't talk to Brian J Peterson like that. He knows everything about our specific market. Don't correct him from half way across the country lol. If you can get into trolley for under $140 that's realllly awesome. When I was shopping around for my primary residence everything I was able to find was starting to hit the 200s. Maybe soon we can make the move over there haha

@Glen Beringer has some good insight on the areas in Delaware as well. Trolley is certainly ideal as there are q lot of bars and restaurants and it's a great location. But like he said, cost of entry is going to be significantly higher. You'll have to do the research and math. 

I could probably get 2 propeties in slightly less desirable locations for the price of 1 in trolley. But you'll have better tenants (probably) in trolley