All Forum Posts by: Vincent M.

Great Robert. Thanks exactly what I wanted to know!

Thanks so much for the information, appreciate it. 

Hi Bigger Pockets 

I am looking to buy my first rental. The property we are looking at is offered subject to the existing owners mortgage of 55,039.00. 

All of the number for cash flow and returns look good. My questions are:

1) Tax deductions: Buying subject to, who gets to write off the interest on the loan since its in his name and who gets to depreciate the property?

2) Is creating a trust to transfer the property to me when the mortgage is payed off the best way to protect myself. 

3) Any advise of what to look out for and avoid would be greatly appreciated. 

Thanks in advance for your input. 

Vince

Hi Jimmy 

I am a Real Estate agent and investor in the Montgomery county. I have been flipping and listing homes while working a full time and two part time jobs. Would be up for grabbing lunch and talking about real estate. I am located in Gladwyne about 35min from you. If you are interested IM me and we can set something up. In the meantime look into DIG meetings in your area. It is a great way to meet investors. 

Best 

Vincent 

the property is still available. I have a showing scheduled for tonight at 6:30 for anyone who is interested. It is not an assignable contact, it’s an off market listing. 

I am setting up a showing for Monday at 6:30. Are you available to see the property then. 

The area is up and coming. The location being right on the park is what drives the price. On the same block is 5174 Parkside for sale right now at 375,000 4 bed 3 bath 2,480 triplex 1bed 1bath, 1 bed 1 bath, 2bed 1bath. 5122 renovated would have 5beds 2,610 sqft bringing the rent up and arv 2bed 1bath, 2bed 1bath, 1 bed 1 bath. Renovation cost would be determined by what you are looking to do with the property. 

1) 600,700,750 now, area pulls much more after renovated. 

2) Repairs are needed throughout, see link to pics above

3) moving

Hi Zephaniah

1) Address is 5122 Parkside Ave Philadelphia P.A. 19131

2) Fully rented 3,400

3) tenants pay all utilities

4) yes

5) see #2

best # Cell:914-441-9564

I am setting up a showing for the property this Thursday 6/28 at 6:30 if you are interested in seeing it. 

Best 

Vincent 

OK, I will contact you early next week. Thanks