The Board of Directors of the Pennsylvania Residential Owners’ Association met December 3, in Camp Hill, outside of Harrisburg. The Officers, Grant Nelson, President, Rita Dallago, Executive Director, Jean Yevick, Vice President, John Baldwin, Treasurer, and...
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Bradley Dornish
Seven Things You Need to Know Before You Buy Rental Property — Thing Four: Your Tenants
Most of the time, we do not buy rental property which is vacant. We buy with at least some existing tenants, so we can enjoy immediate cash flow from the property. Banks generally prefer to loan against existing cash flow, instead of taking your projection as...
Seven Things You Need to Know Before You Buy Rental Property — Thing Three: Your Municipality and its Rules
Many inexperienced landlords find a great property at an unbelievable price in a nice neighborhood, and hurry to buy before the Seller realizes he or she has priced the property far below its value. Only after closing on a real steal does the buyer realize that...
Seven Things You Need to Know Before You Buy Rental Property — Thing Two: Leases
Some people think that any lease is a good lease, or that all leases are created equal. They couldn’t be more wrong, and it is a very expensive lesson to find out after you buy a rental property that the lease or leases on which you depend for the income to pay...
2009 Mechanic’s Lien Law Changes
A mechanic’s lien is a security interest in personal or real property for those who have supplied labor or materials without being fully paid. In Pennsylvania and most other states, these liens are statutory in nature. These protective devices exist to provide...
PROA Needs Your Help For its Legal Defense Fund to Fight for Real Estate Investors Statewide
Why does it matter to a landlord in Pittsburgh or Philadelphia what a small town council does in the middle of the state? Why should an investor in Erie worry about the result of a lawsuit in Common Pleas Court in Lackawanna County? The answer to these...
Seven Things to Know Before You Buy a Rental Property — Thing One: Utilities
As a real estate lawyer for 25 years, I have watched many investors come and go, and some stay and prosper for the long haul. I have helped them with contracts, closings, evictions, contractor troubles and sales, among other things. Each time someone calls me...
Mortgage Fraud Task Force Indicts More Investors and Professionals in July
In March, Assistant U.S. Attorney Brendan Conway spoke to the ACRE meeting in Pittsburgh, told us about the indictments the Mortgage Fraud Task Force had made to date, and promised that more investigations underway would lead to more indictments. In July,...
Home Improvement Contractor Registration Act 132
Dramatic change has come to the home improvement contracting business in Pennsylvania, with the Home Improvement Consumer Protection Act, which has an effective date of July 1, 2009. The new law, also known as Act 132 of 2008, and found at 73 P.S. Section...
PROA Board Meeting June 2009
The Board of Directors of the Pennsylvania Residential Owners’ Association held its quarterly meeting in Harrisburg on June 4th. I attended as ACRE’s representative, and met with other Directors representing over twenty different real estate investors’...