Real Estate Investing & Rental Properties
(In this blog post, we discuss how we grew up around real estate, rental properties, & real estate investing. We illustrate one of our motives behind initiating “Buying Property 215“)
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 merely because our mother owned three rental properties & our uncle Bruce possessed 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. She held the property as a rental while living at my grandmother’s for a reasonable price. That allowed our mother to profit a couple of hundred dollars monthly after paying the mortgage, property taxes, and other expenses. At 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. Between tenants, my brother & I would help with cleaning and painting the properties. We’re knowledgeable about real estate advertisements, especially for renting properties on the internet; I published the properties on craigslist when I was thirteen years old. My mother always positioned rent signs out front of the rental properties; years ago, this method performed 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 potential tenants, so we have seen firsthand how the screening process works!
Benefits of Owning Rental Property
There are many benefits to rental properties, such as an additional source of income and 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 and 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 of being a home investor; the pros outweigh the cons. If you screen the tenants properly with a background search & credit history check, you tend to have adequate tenants. It’s essential to build a shared understanding of respect. If there are any issues with the property, take care of them quickly. We recommend that your first rental property be updated and in “turnkey” condition; you minimize the probable 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 reading our blog post “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 themselves from a problem property or area. We’ve encountered families living in unsafe conditions simply because the property repairs were too costly! Families have been stuck in dangerous areas, which we’ve helped relocate. We’ve lived in Philadelphia our entire life, observed neighbors struggling, and always wanted to lend a helping hand! Both my brother and I have worked in career fields that assisted individuals. Before providing real estate services, Ryan was employed by “save the children,” 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 named “Central Behavioral Health” as a career specialist and a peer specialist. As part of a client treatment team, I assisted the individuals with daily life and coping skills. I helped clients build resumes, apply for jobs, and enroll in college! It’s always been a strong passion for assisting others, so we provide the best services and will go above and beyond for the homeowners we work with. If you’re facing any issues or obstacles, such as pre-foreclosure, tax liens, or severe structural problems, please get in touch with us to discuss the options!
We purchase property in any condition, regardless of the circumstances. We specialize in purchasing property in Philadelphia and surrounding counties. Our company buys various properties; single-family houses, multi-family homes, vacant lots, and mixed-use properties! Although we do serve the entire Pennsylvania, Maryland, New Jersey, and Delaware! We offer different options to sell your property – we can approach selling your house through the traditional method of listing it on the market with a licensed real estate agent. We offer the option of a quick house 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 deals and renovations! We take pride in our process being simple and straightforward!
Once we can 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 special sales price. We will then send the sales contract to a reputable local title company so they can begin the title search. A title search is when the deed is cleared of any outstanding balances or liens; it 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. We will finish signing the paperwork at the closing, and the title company will issue the funds to the seller through a paper check or wire transfer to your bank. After the sales are complete, we will bring in local contractors and skilled tradespeople to make house repairs, renovations, or home upgrades! Once the renovation is done, we typically hold the property as a rental generating monthly income! If you are interested in selling a property, contact us at “Buying Property 215” to receive the highest offer guaranteed when you “sell my house“!