All Forum Posts by: Account Closed

@Sam Sand I grew up near Wilmington, went to school there, and my mother currently works there...there are parts that I've noticed that look completely different from when I was a kid in the 90s to now.

I'm not currently investing there now, but maybe in the future I will.

I'm currently working on my 1st project in Chester,Pa

I have an investment property that was my first home.

I was renting it to family for 2 years and have recently kicked the out from the property and have cleaned up the home, repainted and recarpeted it.

It's ready to be rented out again but I dont have the time and no longer wish to deal with the property.

I still owe quite a bit on it. I do know that my mortgage can be assumed and know that is usually attractive to investors.

How can I sell my property?

I dont have the money to hire a real estate agent or wait forever. I'd just like someone to take over the mortgage so I can be done with it.

The property is located in Chester, Pa and has 4 bedrooms and 2 full baths with a 1 car detached garage. Section 8 says that rents for homes with that many bedrooms and bathrooms can get rent up to $1700 a month.

And I know some people will say "why wouldn't you just keep it and rent it yourself and make some money" the answer is "time" I dont have it.

Working a rotating swing shift with no help puts too much stress on myself.

I've started a new life but the home is holding me back. I've already tried to offer it to as many people that I know but everyone seems to either have less than perfect credit(you need a score of 620 to qualify for the mortgage assumption) or no money.

The family I had renting from me were supposed to buy it but had money issues as well(which is why I kicked them out)

So what is your advice? How can I sell my property with an assumable mortgage to another investor? Or can I even sell it?

@Ola Dantis

Thank you so much! I'm interviewing a PM company soon and I'm so excited. To be hands off...how sweet that would be.

@Ola Dantis

I may do this with ALL my properties...only reason I have this property is because it was my very first home I bought at 20years old.

If I was more knowledgeable back than(32 now) I wouldnt have bought it. Overpaid in an area that was supposed to be getting a facelift...new soccer stadium about a mile down the road, casino...subpar schools built. But the left the center of town a dessert...didnt help property value at all.

Would sell it but still owe too much...but it's a prime area for section 8...if I can find a tenant.

@Charles Salumn

Lol yeah...I like in bear/Newark...want to move to Middletown.

DE taxes are unbelievably low.

Love Delaware

@Charles Salumn

I live in Delaware...lived in Pa for about 15 years on Chester,Pa...right by the commodore Berry...and always wonder why I saw so many NY tags on cars, lol.

Now I get it...yeah...homes are WAY cheaper...NJ has high taxes IMO.

But being orginally from De and living in PA...the taxes are "cheap" looking at NY taxes.

GOOD LUCK!!

@Brandon Penn

I dont know what docket sheets are, how to check them or what inform I need to check them.

Is there a sheet I print out from somewhere and have them fill it out, than I look it up on some website?

How much does it cost? Should I have them give me cash and I write them a receipt?

@Dennis M. i dont understand the djs portal is, how to use it, or what a docket sheet is. Could you explain?

@Meir Greenblatt

Looking for one

@Brian Garlington

Is it worth the cost? Is this how u found ur section 8 tenants?