All Forum Posts by: Tony Chiaramonte

I have three homes in the Fishtown/Port Richmond area and am in need of a contractor. The need is both immediate and ongoing. I would like to find a "go-to" guy (or gal) for all my units. Currently, I need a fence constructed and a basement finished in my primary residence along with a few other smaller jobs. However, I have several upcoming projects for my rentals in 2017. Please reach out if you are interested or know someone who may be. Thanks!

My wife and I just purchased two homes in the Port Richmond area of Philadelphia as investment properties. I have been preparing my own taxes for the past few years, but realize that the issues that the new purchases and ongoing operation of the rental houses are beyond my area of knowledge. So I am looking for a good CPA for RE investors in the Philly area, preferably one who has experience with smaller RE investors just getting started. Any help is appreciated. Thanks!

Sorry to hear about your recent burglary. My primary residence recently was burglarized (likely by neighbors, as well) and it's really upsetting. We went with Frontpoint Security. It is totally cellular and connects flawlessly with our iPhones. Evidently, it has it's own cellular device in the control panel that is not connected to anything in your home for added security. You have the option to customize your package with door/window sensors, motion detectors, and cameras. You can also add on smoke/CO2 detectors. You do have to pay for the equipment upfront, but if you "pass" their credit check it's pretty cheap (ours was about $125 with the camera, 2 doors, 2 motion detectors). It is $49 a month, but only $45 a month if we didn't have a camera. Also, there is a 3-year contract, but it is transferrable across different residences so you can move the system. 

So far we are satisfied. Hope this helps! Good luck! Also, don't forget to file your HO claim. If you need any advice, I just went through this process and would be happy to answer any questions. 

I recently found a potential deal though a realtor here in Philly. Owners were asking $115k, but I valued the property at closer to $100k. I contacted the realtor and she reached out the listing agent. Realtor responded that I should move on because the bank has only approved the $115k price, and anything lower would require approval, which could take 6-9 months. Even then, she said, the bank may counter. Short answer, she said unless I wanted it for $115k to move on. Is this all accurate? What's the bank going to do if no one offers $115?

Thanks

I'm fairly new to RE and am quickly learning that relying on realtors to set up MLS deals is not the best way to go. A lot of people on the BP forum seem to suggest "driving for dollars." Sounds like a good idea...But this raises the question, how do you find the owner once I locate a potential investment opportunity? Thanks!