Raised Around Real Estate
Since we were born, my brother & I have intended to participate in real estate investing. While growing up, we saw the entire process of rental properties simply because our mother owned three rental properties & our uncle Bruce owned over twenty properties. However, although we have seen the benefits, we have also seen the obstacles to rental properties and real estate investing!
Our mother purchased her first rental property in Roxborough when she was only seventeen years old. She held the property as a rental property while living at my grandmother’s for a reasonable price. That allowed our mother to profit a couple of hundred dollars monthly after she had paid the mortgage. At the age of thirty, our mother purchased her second rental property from her grandmother. Having multiple revenue streams is crucial; our mother had an average job, but we had the opportunity to live comfortably with all our needs met due to the rental properties!
At a young age, we played our role in assisting our mother with the rental properties. In between tenants, my brother & I would help with cleaning the rental properties and painting the properties. I’m familiar with advertising properties for rent on the internet; back when I was thirteen years old, I posted the properties onto craigslist. My mother always placed rent signs out front of the rental properties; years ago, this method worked well, but the internet makes finding qualified tenants much simpler in the modern age of technology! My brother and I used to run the appointments with my grandmother to show my mother’s and uncle’s properties to possible tenants, so we have seen firsthand how screening process!
Benefits of Owning Rental Property
There are many benefits to rental properties such as an extra source of income, a safety blanket, & usually real estate always increases in value. However, there are negative aspects of real estate, such as tenants not paying rent, significant, costly issues with the property, or having the monthly cost (mortgage, insurance, and taxes) exceed the overall profit. In our personal experience, the pros outweigh the cons. Most of the time, if you screen the tenants properly with a background search & credit history, you tend to have good tenants. It’s essential to build a shared understanding of respect. If there are any issues with the property, take care of it in a timely fashion. We recommend that your first rental property be updated and in “turnkey” condition; that way, you minimize the possible repairs. After the first rental property, you continue to build your assets! A few rental properties are easy to oversee, but if you get to the point where the number of rentals becomes overwhelming, you have the option to hire a property manager!
Thank you for taking the time to read our blog post about “Growing up around real estate, rental properties & real estate investing.”
More About Us
We’re two brothers who take gratification in assisting our community! Over the years we’ve helped dozens of families relieve their selves from a problem property or area. We’ve come across families who were living in unsafe conditions simply because the property repairs were too costly! There have been families stuck in dangerous areas which we’ve helped relocate. We’ve lived in Philadelphia our entire life, we have observed neighbors struggling and always had a desire to lend a helping hand! Both my brother and I have worked in career fields that assisted individuals. Prior to real estate, Ryan was employed by “save the children” which is a nonprofit organization that collects donations for children around the world who are starving and lacking education & medication! Before Ryan brought me into the real estate industry, I worked for an outpatient mental health facility in Norristown by the name of “Central Behavioral Health” as a career specialist and a peer specialist. As part of a treatment team for clients, I assisted the individuals with daily life and coping skills. I also helped the clients build resumes, apply for jobs, and enroll in college! It’s always been a strong passion of ours to assist others, so we provide the best services and will go above and beyond for homeowners we work with. If you’re facing any issues or obstacles such as pre-foreclosure, tax liens, or serious structural issues feel free to reach out to us to discuss what the options will be! We purchase property in any condition regardless of the circumstances. We specialize in purchasing property in Philadelphia and surrounding counties. Although we do serve entire Pennsylvania, Maryland, New Jersey, and Delaware! We offer different options to sell your property – we can approach selling your house the traditional method of listing it on market with a licensed real estate agent. We offer the option of a quick off-market sale that can be completed within twenty-one days or the off-market option that can delay closing for however long you desire! Our offer will be all cash for the property in as-is condition. You pay absolutely no agent commission fees or closing costs! We require no inspections or walk-throughs of the property. There’s a financial contingencies period since we directly fund our own deals and renovations! We take pride in our process being simple and straightforward!
Once we are able to agree upon a sales price on your property we will sign a brief two-page agreement of sale stating that we will be purchasing your property at the particular sales price. We will then send the agreement of sales to a local reputable title company for they can begin the title search. A title search is when the deed is cleared of any outstanding balances or liens, the title search typically takes two or three weeks although it can be as short as one business week. Once the title company completes all state and city required documents, they will set a closing date and time that works best for you. At the closing we will finish signing paperwork, the title company will then issue the funds to the seller either through paper check or wire transfer to your bank. After the sales are complete, we will bring in local contractors and skilled tradesmen to make any repairs, updates, or renovations! Once the renovation period is done, we typically hold the property as a rental generating monthly income! If interested in selling property, contact us “Buying Property 215” to receive the highest offer guaranteed on your property!