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All Forum Posts by: Tom McGrew

Tom McGrew has started 0 posts and replied 35 times.

Post: Need a Property Manager for large Mom and Pop portfolio

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31

@Amy Konopka

We can definitely help get everything organized for you. I’ll shoot you a DM.

-Tom

Post: Investing in Easton and Bethlehem Pennsylvania

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31
Quote from @Adam Pervez:

Hi All!

I am looking to purchase my first multi-family either in Easton or Bethlehem. I have checked out the area and deemed it a good spot for my first house hack. Did research on crime rates, schools, attractions, etc... 

I wanted to see if anyone else is currently investing in these areas and has any additional feedback.

Thank you!


 I've seen where Bethlehem units go a bit faster and for higher amounts than Easton currently (obviously everything is dependent on the specific property). There are some areas around Easton and Bethlehem that have good cashflow for investors and are close to those cities. Feel free to shoot me a DM.

Post: Bethlehem Rental License?

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31
Quote from @Sangita Khera:

Thanks @Ronald Bowser.

After the CO report from Bethlehem city is clear, what would be the process to get the rental license? My prop Mgt co said they will handle it but just for my awareness I wanted to find out which form should be filled for getting a rental license and I could not find any on Bethlehem city website.

In Bethlehem, you just need the Business Privilege License (BPL) which you can get here: City of Bethlehem (bethlehem-pa.gov).

Post: Would you every rent to a person with 550 credit score

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31
Quote from @Steven Sestir:

Hello everybody,

   I have put my apartment up for almost a month now and I had 50 or more inquiries but they did not fit the 3 times the rent policy, they already found a place or they had red flag answers to my questionnaire.  I have one person that seem like a good tenant but they have a low credit score at 550.  They said their credit is low because of their ex husband and they are getting a divorce.  Should I consider this person to rent out my apartment or just keep looking?  Also could I have a family member with great credit sign the lease? 

Thank you 


 I've rented to someone with a 530ish score and they are one of my best tenants. They had an issue with a Social Security debit card expiring and sent me a 5 paragraph apology letter on the 1st of the month that they may be 1-2 days late because it was in the mail. They paid the 2nd of the month. Unfortunately, "it depends" is the best answer here, you must look at everything else as a complete picture. Good tenant screening, in my view, will avoid 99% of any non-payment issues.

Post: New to the Real Estate Industry

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31

@Dameka Mack we are based in the Lehigh Valley. I’d be happy to connect with you anytime in the next week or two.

Post: House Hacking in Lehigh Valley, PA

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31

Post: House Hacking in Lehigh Valley, PA

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31
Quote from @Mary Ciccarelli:

My boyfriend and I have been house hunting in the Lehigh Valley area of PA since March 2021. We’re looking for a duplex to HOUSE HACK as our first investment deal but after looking for a year and making 3 competitive offers in the last couple months we just haven’t been successful in scoring a property.

Can anyone offer some general advice scoring a deal in this market?

Is this not the right market for us? Is anyone investing in Lehigh Valley right now and can offer some advice?

Do we need to change approaches, strategies, markets?

Appreciate any feedback!!


 Hey Mary! 

There are a few FB groups and there is a really strong in-person REI meeting every month in the area. I've known a few investors who have scored off market deals to avoid retail/MLS prices. Always happy to connect further if I can be of any help!

Cheers,

Tom

Post: Searching for title company in the area

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31
Quote from @Lance Wilson:

Hi, I’m a new local wholesaler. Can someone refer me to a title company you have used to close wholesale transactions successfully?


 Parkland Abstract is who I use, the owner is an investor himself.

Post: Details about using a property management company

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31

There's a lot of great info from others. 

Disclosure - I run a PM company in the Lehigh Valley. The one point that I'll add is to find a PM that resonates with you, too. Just like when you interview for a new job, one company might be a good fit for you and not another person. I think too often we focus on percentages, fees, and dollars - not to say that those metrics aren't important - but they shouldn't be the only things we judge PM companies on.  We have owners come to our company and pay a higher monthly fee because they resonate with our style and ethos.

Post: Leigh Valley: Recommended Lenders?

Tom McGrew
Posted
  • Property Manager
  • Bethlehem, PA
  • Posts 38
  • Votes 31

@David Cabañero Vazquez I know a great person DM me