Alan Asriants

🏡Real Estate Investor w/ 18 doors and Real Estate Agent with 50M+ in Sales. Helping investors and homeowners Buy and Sell properties

[Alan Asriants @AsriantsAlan]

Back in July 2022 I acquired a flip for $250k. Comps in the area were selling for 420-450k. Market was still doing well. Rehab costs was 90k, my all in with closing costs was 356k. Worst case was hoping for a $43k profit selling at 420k. Completed the project in Oct 2022.

[Alan Asriants @AsriantsAlan]

Think of the Future When Buying Rentals

Whenever I am looking at rental properties to purchase for my own portfolio, I often look at the amenities, features, layout, and functionality of the living space. I always ask myself: in 15 to 20 years, would this space still fit modern standards?

The reality is that new construction is only getting larger. People want bigger living rooms, more storage, more space, more amenities, and more features. Purchasing a property that is too small, has low ceilings, or has a funky layout lowers the potential of your investment in the future.

A functional and logical layout — with well-thought-out, dedicated spaces for living and dining — will stand the test of time. Units that feel strange or odd today may be completely obsolete in the future.

I call this future-proofing your investments.

Best of luck!

[Alan Asriants @AsriantsAlan]

https://t.co/SA3OFRDT1I

[Alan Asriants @AsriantsAlan]

https://t.co/2WhXDAc1c6

[Alan Asriants @AsriantsAlan]

https://t.co/pNcsj5btLx

[Alan Asriants @AsriantsAlan]

https://t.co/PRGoOX0Hqt

[Alan Asriants @AsriantsAlan]

https://t.co/ELvZWeJrWn

[Alan Asriants @AsriantsAlan]

https://t.co/QHwjuuQ0L0

[Alan Asriants @AsriantsAlan]

https://t.co/VvlaAtgE43

[Alan Asriants @AsriantsAlan]

Why regular walkthroughs will save you money – Real Life Story!

As a landlord, I take pride in having great tenants and well-maintained properties in strong locations. But funny enough, that stability can sometimes work against me. When things are going smoothly, it’s easy to get comfortable and overlook the importance of checking in on properties. Honestly, if it weren’t for my routine walk-throughs, I could probably go years without setting foot in some of them. That might sound like an investor’s dream, but in reality, it can be dangerous.

Not every tenant knows how to spot or handle maintenance issues. Routine walk-throughs aren’t about snooping on tenants—they’re about catching small problems before they snowball. For example, a minor roof leak might only cost a few hundred dollars to patch today, but if ignored, it could turn into a full replacement later.

I recently ran into this exact situation with a water heater. I decided to do a walk-through at one of my properties that I hadn’t visited in a while. Almost immediately, I noticed something odd with the vinyl flooring seams—they looked dirty and damp. The tenant mentioned he couldn’t get the seams clean, even though he pays for a monthly cleaning service.

Within 20 seconds of inspecting, I opened the water heater closet and discovered it had been leaking for some time. It wasn’t gushing, but the slow leak had seeped under the flooring, into the baseboards, and even the sheetrock. Luckily, the damage wasn’t severe. I called my plumber right away, and fortunately, the unit was still under warranty. It was a $2,000 high-efficiency water heater, but it only cost me about $600 for labor and a new expansion tank. I then set up a heavy-duty dehumidifier and fans to dry everything out, and after some time the seams were clean again.

If I had put off that walk-through, the damage could’ve been much worse—both structurally and financially. I also noticed some loose tiles during that visit, which reminded me to buy extra replacements now in case the style gets discontinued. That way, if I need to replace a few pieces later, it’s a quick, inexpensive job instead of redoing an entire floor.

The lesson here: just because you haven’t heard from your tenants doesn’t mean everything is fine. Schedule routine walk-throughs. They can save you thousands in the long run.

Happy landlording!

[Alan Asriants @AsriantsAlan]

5 Tips for new investors looking to get started!

Here are a few tips I like to share with my clients and anyone looking to get started in real estate investing:

1. Location Matters
This is by far the most important aspect of real estate investing. Where you invest will determine how well your property appreciates, how much rent can grow, and—most importantly—what kind of tenants you attract. A better location typically means less risk for the investor.

Unlike many other investment types, real estate is one where investing more usually means less risk. Think of it like stocks: the S&P 500 is a Class A location, while your brother-in-law’s startup tech company is a Class D location. You could make money in both, but your odds are much better with the S&P 500.

As a local investor and agent, I’ve personally shifted away from the city and focused more on the suburbs. In my opinion, the suburbs are still undervalued and offer a pool of high-quality prospective tenants. Plus, landlord-tenant laws tend to be more favorable for landlords. I think Bensalem still has a reasonable entry point, gives you solid bang for your buck, and attracts stronger applicants.

2. Don’t Chase Cash Flow
If your goal is strictly cash flow, you might be better off starting a business. A business can generate more immediate cash and can be sold later for a lump sum. Real estate investing, by contrast, is meant to be passive. Especially with today’s prices and interest rates, real estate isn’t a cash flow goldmine. Most investors profit more from appreciation and tax benefits than from monthly income. Cash flow just helps keep the lights on.

That said, don’t buy a property where you’re stuck paying $500/month out of pocket. That’s not a good investment either.

What’s the point of chasing $500/month in cash flow if it eats up hours of your day, forces you to chase tenants for rent, deal with constant repairs, and fully rehab the property after every turnover? Wouldn’t it make more sense to earn $100/month with far fewer headaches? Sure, you’ll have to put out fires now and then, but your time ROI is much higher with solid properties in quality locations.

Here’s an example: a buddy of mine recently asked if he should take a new job that paid more. First thing I asked: “How much more will you be working?” He was making $100k/year working from home about 25–30 hours a week. The new job paid $120k, but it was much stricter. Long story short: the extra $20k wasn’t worth it. He ended up working double the hours, including weekends, and was under a lot more stress. Within a year, he went back to his old job.

3. Property Type Matters
Let’s say you find a property in a great location and the price seems too good to be true. Be cautious. Don’t be blinded by the numbers—look at functionality and flow. Some properties look great on paper but fall apart in person: odd layouts, low ceilings, old electrical, plaster walls, uneven floors—all of these can tank your resale and rental value.

If a home doesn’t feel right when you walk through it, that’s a red flag. I never buy anything I couldn’t see myself living in. Walk away and let that be someone else’s headache—unless the deal is good enough to justify a major rehab and build serious equity.

4. Think Long Term
People often ask if I would invest in an “up-and-coming” area. The answer depends on what they mean by that. Some neighborhoods have been “up-and-coming” for decades with no real change. This is investing, not gambling. If you want to gamble, buy a piece of land and sit on it—you avoid tenants, maintenance, and other headaches.

I always recommend investing in solid areas with a proven track record. That gives you the best odds of long-term success. Delayed gratification pays off much more than chasing big short-term returns. Slow and steady wins the race.

5. House Hack
If you’ve never bought a property before, consider buying one as your primary residence, living in it, then renting it out later. Many people jump into real estate investing without owning their first home. Primary residence mortgages offer lower down payments and better interest rates. It’s a lot easier to save 5% down than 25%.

This strategy also allows you to buy in better locations, which are usually more expensive. Buy a property to live in—whether it’s a duplex or single-family home—stay in it for a few years, and when you’re ready to move on, keep it as a rental and buy your next one the same way.

If you can acquire just 2–3 properties over five years using this strategy, you’ll be in a great financial position. This is a realistic plan. With smart budgeting, saving up 5% for another property within a year or two is very possible. Saving up 25%? Much harder.

Quality beats quantity.

If you need any help or want to chat more, feel free to reach out anytime!

[Alan Asriants @AsriantsAlan]

Selling your home? Know when to take an offer – even if it is a Seller’s market…

Whether you’re in a buyer’s market or a seller’s market, it’s crucial as a seller to understand the traction your listing is getting—and to know when to accept an offer or hold out for something better.

Many sellers in a favorable market want to hold out to maximize their gains. While that can be a smart strategy, it can also backfire. The key isn’t just to know what kind of market you’re in—though that’s certainly important—but to understand how well your specific listing is performing.

Typically, the first few days to a week are the most important time for a listing. This is when your property gets the most attention, especially if inventory is low in your area. Taking advantage of that early momentum is critical.

Many sellers hope for multiple offers—ideally above asking price—and while that’s a great outcome, it doesn’t always happen. It’s important to know when to accept an offer and when to wait.

As a listing agent, I pay close attention to how much activity a property is getting. If we’re getting multiple showings per day and have future appointments lined up, I wouldn’t urge my clients to jump on the first offer—unless it’s significantly over asking with exceptional terms. In that case, I’d typically recommend waiting for another offer and then setting a deadline to allow all interested buyers a fair shot.

On the other hand, if a home has been listed for a few days with minimal or no showings scheduled—and a decent offer comes in—I would strongly encourage the seller to consider it. Even if the offer is slightly below asking, it may be in the seller’s best interest to accept it while the listing is still fresh and there’s momentum. That early excitement fades quickly, and offers can dry up.

We recently experienced this firsthand. I was representing a buyer who submitted an offer roughly $7,000–$10,000 below asking. The seller pushed back hard and countered at full asking price. My clients scheduled a second showing but ultimately decided to move on and pursue other opportunities. While the property had many great features, things like low ceilings, a small basement, and being on a main road became more apparent compared to other options. That home was listed at $620,000—but after sitting on the market, it’s now listed at $540,000. Meanwhile, my buyers have already purchased another home.

So if you’re a seller and you receive a solid offer with little to no activity on your listing, give it serious consideration. Holding out might seem like the better play, but you could end up losing far more in the long run.

Whether you’re in a buyer’s market or a seller’s market, it’s crucial as a seller to understand the traction your listing is getting—and to know when to accept an offer or hold out for something better.

Many sellers in a favorable market want to hold out to maximize their gains. While that can be a smart strategy, it can also backfire. The key isn’t just to know what kind of market you’re in—though that’s certainly important—but to understand how well your specific listing is performing.

Typically, the first few days to a week are the most important time for a listing. This is when your property gets the most attention, especially if inventory is low in your area. Taking advantage of that early momentum is critical.

Many sellers hope for multiple offers—ideally above asking price—and while that’s a great outcome, it doesn’t always happen. It’s important to know when to accept an offer and when to wait.

As a listing agent, I pay close attention to how much activity a property is getting. If we’re getting multiple showings per day and have future appointments lined up, I wouldn’t urge my clients to jump on the first offer—unless it’s significantly over asking with exceptional terms. In that case, I’d typically recommend waiting for another offer and then setting a deadline to allow all interested buyers a fair shot.

On the other hand, if a home has been listed for a few days with minimal or no showings scheduled—and a decent offer comes in—I would strongly encourage the seller to consider it. Even if the offer is slightly below asking, it may be in the seller’s best interest to accept it while the listing is still fresh and there’s momentum. That early excitement fades quickly, and offers can dry up.

We recently experienced this firsthand. I was representing a buyer who submitted an offer roughly $7,000–$10,000 below asking. The seller pushed back hard and countered at full asking price. My clients scheduled a second showing but ultimately decided to move on and pursue other opportunities. While the property had many great features, things like low ceilings, a small basement, and being on a main road became more apparent compared to other options. That home was listed at $620,000—but after sitting on the market, it’s now listed at $540,000. Meanwhile, my buyers have already purchased another home.

So if you’re a seller and you receive a solid offer with little to no activity on your listing, give it serious consideration. Holding out might seem like the better play, but you could end up losing far more in the long run.

[Alan Asriants @AsriantsAlan]

Working with a contractor on a renovation? Follow these tips.

If you’ve never worked with a contractor before, there’s a good chance you could end up frustrated. Contractors are often notorious for not finishing jobs, taking too long, or failing to complete all the work you agreed on. Below are a few helpful tips to help you avoid many of these common headaches:

1. Get references
Always ask for references. Talk to people who have used the contractor before—ask about their experience and request photos of the completed work. Many people choose the lowest bidder and end up with the lowest quality results. While price can reflect quality, that’s not always the case. I personally work with contractors who charge less but deliver excellent results. A couple of solid references can go a long way in helping you avoid being taken advantage of.

2. Write a detailed contract
Contractors often aren’t great at writing contracts—especially those offering cheaper bids. Some may not offer a contract at all. Do not skip this step. Even if a contractor sends a basic quote or scope of work, I make sure to rewrite it to be as detailed as possible—especially when working with them for the first time. The more detail you include, the easier it will be to point to the contract when there’s a dispute about what was agreed upon.

3. Avoid large upfront deposits
There’s usually no need to give a contractor 50% upfront unless it’s a large-scale job like roofing. I prefer paying in increments tied to completed milestones rather than two large lump sums. As you get to know and trust the contractor, you’ll be better able to adjust how you handle payments.

4. Watch for the runaround
This one is tough, especially if you’re new to renovations. Some contractors are very convincing when explaining why their shortcut is “the right way” to do something. In many cases, it’s just the cheaper or easier option—not the best one. If you’re unsure, ask a friend, mentor, or your real estate agent. You can also search YouTube for how a specific task—like installing tile or cabinets—should be done. And don’t assume that a high price guarantees high-quality work. I’ve seen contractors charge top dollar for results that were far worse than my lower-priced, more skilled crews.

5. Leave enough “juice to squeeze”
As your project nears completion, don’t leave only a small amount unpaid. If your renovation budget is $10,000 and you leave only $500 to cover finishing touches, you’ll likely have a hard time getting the contractor back to complete them. Those final details—like caulking, silicone, and trim—are often time-consuming and make a big difference in the finished look. Give them a real incentive to return. Personally, I wouldn’t leave less than 10% of the budget unpaid—ideally closer to 25%.
6. Do a thorough walkthrough before final payment
Before you make that final payment, double-check everything. Open every cabinet door, test all appliances, run the water—both hot and cold. Look for any floor separation, unfinished details, or missing elements. Go over everything thoroughly. If you’re not sure what to check, pull up a walkthrough video on YouTube or ask me.

Best of luck—and don’t be afraid to hold your contractor to a high standard!

[Alan Asriants @AsriantsAlan]

NO MONEY DOWN! Sounds great but please tread lightly…

There’s a growing trend in the real estate industry of influencers and so-called gurus promoting strategies to buy property with no money down. While some of these approaches may have merit in certain situations, I recently came across one piece of advice that was not just bad—it bordered on predatory.

The advice? Use a credit card line of credit as a down payment to purchase a multi-million dollar property, with the plan to refinance within a year—during the interest-free period—and pay off the credit card debt.

Sure, in theory, this could work. But it has to work perfectly. You’d need to buy the property at such a deep discount that, within a year, you could do a cash-out refinance to cover all of your debt—including the down payment, renovations, and any other expenses. And if anything goes wrong, you’re stuck with sky-high interest payments once that 0% period ends. That’s not just risky—that’s financial roulette.

It might sound cool in the moment: open a business credit card with a high limit, pay no interest for a year, buy the property, and then refi before payments kick in. But let’s be real—how many people are actually getting high-limit business credit cards with no prior business history? And how often are people finding deals good enough to make this strategy viable?

The point of this post is to raise awareness about flashy, clickbait content and get-rich-quick seminars. Real estate investing works—but the kind that actually works doesn’t rely on short-term wins or wild risk. It’s a long-term strategy built on solid fundamentals.

Those fundamentals are simple:

Buy in the right location
Choose the right type of property
Place the right tenant
Take care of the asset

If you don’t have 25% down, start by buying a property as your primary residence or a househack. Live there, then move on. It’s the most straightforward way to get into real estate investing. No need to reinvent the wheel.

Owning just 2–3 paid-off properties 30 years from now can be an incredibly powerful wealth-building tool—and it’s often overlooked.

Remember: slow and steady wins the race.

[Alan Asriants @AsriantsAlan]

Philadelphia Househack/Rental Property Purchase Checklist

Congrats! You are almost a new owner in the City of Philadelphia. I bet you are excited to get started with your new ownership. That being said, there are a few things that I would consider and do once I become the owner. Luckily they are not too difficult. Some of the items below I would HIGHLY recommend receiving while under contract to verify things like zoning, violations, leases, etc.

1. Leases

Ideally this should be done very early on during your transaction. Typically with a tenant occupied addendum the Seller has 5 days to furnish you Lease Agreement and you have 5 days to review. Its really important that during this time you not only verify terms of the lease but you also ask the Seller for Proof of Payment. Most Agents don’t do this, but I certainly do. Just because there is a lease, doesn’t mean that the tenants are paying on time. Also you want to have those handy once you close so you know all of your terms with your future tenants. Some leases have clauses for transferring ownership at settlement, so you want to have that signed by you and the Seller at closing. Also if the owner took great care of the property, make sure to get the info of their Landscapers, handymen, etc. Established relationships are great and can ensure your property runs smoothly!

2. Seller’s Rental License/Property Certificate

A common issue that Buyers have in Phila, is that they buy a multi family property thinking its a duplex but it ends up being a Single Family Home. Don’t trust the Listing or the Sellers word for it. Do a quick search on https://t.co/7tb8yUK43I and see what the permitting records say and if there are any active rental licenses. Most people get burned when they think they are buying a triplex but it is only a legal duplex. You don’t want to be that guy. Many MF homes are in Single Family zoning overlays, meaning that those properties have a variance. That being said if their rental license has been expired for over 3 years or there was no history of it being used in the past as that type of multi family property, you could be buying a dud. Get a rental license from the Seller showing 3 rental units, and at the very least have them order an L&I certificate (this is standard) showing that it is a 3 unit property. This is applicable for all unit mixes. The L&I cert will also show you if there are any open violations. Make sure the seller clears them before you take ownership, otherwise they are your problems.

3. Water

Water will be transferred to you after settlement. You will receive a bill to the address that you identified at closing, look out for that Bill

4. Trash

Trash will be transferred to you after settlement. You will receive a bill to the address that you identified at closing, look out for that Bill. it is now $500/year

If you are a Househacker, you can get this fee waived if you live in one of the units. https://t.co/IX3SxY4OWr…

5. Rental License

Whether you are House Hacking or buying strictly as an investment, do not skip this step! You will be able to do this once you are the owner. Some have experienced issues getting the license until their name shows up in public records. If you need more info on how to get your rental license you can use my guide here: https://t.co/IX3SxY4OWr…

6. Landlord Cooperation Program

THIS IS REALLY IMPORTANT. Once you have your rental license you can sign up for this program. Gas through PGW is lienable to the property. Meaning if your tenant(s) stop paying gas, this bill can fall on you. If you sign up for this program, you will not be liable for any tenant debts. This issue can be a lot more common than you think! After you get your Rental License use this link to sign up to LCP: https://t.co/8tr9xgAGY9…

7. Homestead Tax Exemption

If you are a House Hacker its really important that you sign up for the Homestead Tax Exemption. By. simply being a owner occupant you can save up to $1399/year in taxes. Thats about $117/month. I have found that calling actually works. If the current owner was not registered, you likely can’t get this savings until 2026, but apply right away because there is a deadline. Use this link for more info: https://t.co/8tr9xgAGY9…

While this list is comprehensive there are many more things to consider. I hope this helps you to a smooth transition as an owner of your new Home/investment in Philadelphia!

Reach out to me anytime if you have any questions!

[Alan Asriants @AsriantsAlan]

The Rental License Guide – Philadelphia

I know that a lot of newer investors have trouble understanding the rental license process in Philadelphia and what must be done.

Below is a step by step process of what you need to do to get a rental license.

Once you close on your property:
– You need to get a Phila tax ID
https://t.co/2rCmA2QVC2…
– Then you need to register for a commercial activity license
https://t.co/NGXN9g0ya5…
– Once you have a commerical activity license you can finally get your rental license
https://t.co/NGXN9g0ya5…

All of the above will be done using the eClipse online portal system

If your property is built before 1978:
The system will kick back your application and you will not be able to get a rental license until you get a Lead

Safe test.
This is when you will hire a licensed 3rd party to come out and doing a lead test for you. Once the results are in, you will upload them to:
https://t.co/3FsiklUruZ

If your property is built after 1978 and you are getting kickback:

Sometimes the Phila records are incorrect and they show wrong build dates. This happened to me multiple times. You are able to argue this by uploading zoning information from: https://t.co/7tb8yUK43I

When you go on that website you will type in the subject address and go under “License and Inspection” and then Zoning Permit Documents

If there is nothing there, try clicking on a “CORNER” property as the mass records for that row or community are usually under the corner property. That document will often show you when the plans were approved to build that development of X amount of homes. Make sure your address falls under that range.

Here is an example: https://t.co/YlaUI8iJq1
You can then upload this document to their Lead Cert portal (link above)

Once you have your rental License:
– You need to deliver to the tenant a Rental Suitability Cert. You obtain this by going to the link below and putting in your rental license number.
https://t.co/umYr92ydo7…

– You need to deliver the following to the tenant:Partners in Good Housing guidebook

You must give new tenants a copy of the Partners in Good Housing guidebook.Housing requirements

All rental properties must comply with the requirements in the Partners in Good Housing guidebook. The requirements describe the regulations in the Philadelphia Code.

Landlords must follow all non-discrimination and housing laws.Renters Access Act tenant screening guidelines

You must comply with this law when screening tenants. For more information, contact the Philadelphia Commission on Human Relations or the Fair Housing Commission.
Bed bug control responsibilities
Landlords must develop and follow a bed bug control plan to prevent and control bed bug infestations.

You must give tenants:
An informational notice from the City of Philadelphia about bed bugs and landlord/tenant responsibilities.

A written description of bed bug infestation and remediation in the rental unit within the preceding 120 days and of any ongoing remediation.

Within ten business days of receiving a written complaint about bed bugs in a rental unit, you must hire professional pest control services to investigate the complaint and begin remediation if an infestation is found.

Remediation services must continue until there is no longer evidence of bed bugs in the unit. The unit must be monitored for the next 12 months to check for reinfestation.

In buildings with four or more units, the pest control professional must also investigate whether there are bed bugs in the units above, below, and next door.

I use docusign to sign all documents and to send all brochures. This ensures that I have copies of everything a proof of delivery.

If there is anything I missed, please care to share!

[Alan Asriants @AsriantsAlan]

Why Sellers hate Home Inspections – A Strategy for Buyers and their Agents

Over the past five years, we have been in what is mostly a seller’s market. Often in a seller’s market, buyers are forced to waive contingencies, increase purchase prices, and provide very favorable terms to the seller.

One of the most common contingencies that is waived is the home inspection contingency. This is usually waived for obvious reasons. Without a home inspection contingency, the buyer can’t renegotiate terms or terminate the agreement for something found during the home inspection, whether it is major or minor.

In Pennsylvania, buyers can terminate the agreement for any reason. That means if the only issue in the home inspection report is a GFCI outlet that needs to be replaced, the buyer can still terminate the contract.

This is a significant concern for sellers because, even if their property is in excellent shape, a buyer might still back out due to cold feet. Waiving the contingency eliminates this risk for sellers. The home inspection contingency is also the most common point at which contracts fall apart.

Since the 2020 post-COVID market shift, I have noticed that more of my contracts are being accepted with home inspection terms. However, sellers tend to be very strict with their responses because we are still in a seller’s market. In the back of their minds, they know they can terminate the agreement and likely find another buyer.

One of the things sellers hate the most—regardless of the market—is when buyers use the home inspection contingency to negotiate minor issues just to get money out of the seller. This practice, commonly known as “nickel and diming,” frustrates sellers and can jeopardize deals. It can leave the seller very angry and not want to negotiate ANY terms with the Buyer. While the Buyer might think that asking for all these minor credits that add up is a good strategy, what they forget is that they are dealing with a human being. That human being can become offended and not want to negotiate further. This jeopardizes your chances at maximizing your negotiated terms.

A strategy I use for my buyers to improve their awareness and increase their chances of negotiating better terms after the inspection is to be as informative as possible during the showing. While this might seem straightforward, many agents don’t do it.

Many agents act as “yes men” (or women), praising the house while ignoring visible issues that the buyer might not notice. This approach creates problems later during the home inspection process.

When I walk through a property with my clients, I immediately note things that need to be addressed. I don’t focus on aesthetics like wall colors, kitchen cabinets, or flooring materials—those are personal preferences. My job is to identify necessary repairs and make sure my Buyer is buying a solid home. If I see that all the windows need replacing, I make sure the buyer knows. If the electrical system is ungrounded and needs rewiring, I point it out. Any other issues that stand out, I highlight for the buyer.

This way, when the buyer submits their offer, they are already aware of the existing issues and can reflect that in their price or terms. When those issues appear in the inspection report, they are fully prepared for them, understanding that these are problems they will have to address. As a result, when buyers negotiate with the seller, they are more prepared, less likely to get cold feet, and more confident in what needs to be fixed and how much to ask for.

If there are issues we didn’t notice during the walk-through that arise in the inspection report and they are significant concerns, we always address them. Unless there’s a major structural or other issues that significantly impacts the property’s value and will be an absolute deal breaker, we inform the seller that we were already aware of other items during our walkthrough but are only requesting remediation for the major concerns that were not directly seen or disclosed.

This strategy has been highly effective in negotiations. It signals to the seller that we are not trying to squeeze every dollar out of them, which often leads to frustration. It also shows that we are serious buyers who want to proceed with the purchase but need to renegotiate due to significant, unforeseen issues.

Ultimately this keeps the Buyer at ease, fully aware, and prepared, and gives them highest chances of success for home inspection negotiations. If you are a Buyer that is waiting to use the home inspection contingency, regardless of the condition of the home to renegotiate terms and get more of a discount, you will only upset all parties.

Good luck to all!

[Alan Asriants @AsriantsAlan]

Why a Triplex/Quad is not always the best investment. More units doesn’t mean better

When investors first start learning about real estate investing, many share a common goal: acquiring a large number of units, generating enough cash flow to leave their 9-to-5 jobs, and becoming full-time real estate investors. With their newfound knowledge, many gravitate toward the easiest type of multifamily property to acquire—quadplexes or four-unit buildings.

This preference is largely because 2–4 unit properties are classified as residential, meaning they qualify for primary residence mortgages. These loans allow buyers to purchase with lower down payments and take advantage of the best interest rates. Even for investors, this can be beneficial, as they avoid riskier commercial loans that often come with 25-year amortizations, balloon payments, and adjustable rates.

Now, don’t get me wrong—buying more units often means more cash flow. But there are nuances that many first-time investors don’t consider. Before diving into those challenges, let’s look at the benefits of purchasing a triplex or quadplex:

1. Higher cash flow potential
2. Typically lower price per unit, leading to better returns
3. Easier to manage vacancies compared to single-unit rentals
4. More tenants in one location—potentially easier than managing multiple properties in different locations
Of course, there are other reasons why a higher unit count may be attractive, but these tend to be the most significant ones. And let’s be honest—most investors are ultimately driven by financial gain. More units generally mean a higher chance of generating more cash flow.

However, since we’re talking about investment properties/generating wealth and not just financial and business like returns, it’s also important to consider the time and effort involved in managing them.

When you purchase a single-family rental or even a duplex, tenants are more likely to treat the property as their own. Think about it—especially with single-family homes, tenants are often responsible for shoveling snow, mowing the lawn, paying all utilities, and maintaining the property. Since they don’t share walls or hallways, they develop a stronger sense of ownership.

The same principle applies to many duplexes. With a duplex, a tenant is responsible for 50% of the property, which is large enough for them to feel a sense of ownership. But as you introduce more units, that dynamic starts to change. The more people living in a building, the less personal responsibility each tenant feels. This shift increases the landlord’s responsibilities.

When four separate families live in a building, shared spaces like hallways, driveways, backyards, basements, and laundry areas start to feel less personal to tenants. As a result, maintaining those spaces becomes the landlord’s responsibility.

Think about large apartment complexes—tenants don’t mow the grass, shovel the snow, or maintain the common areas. The landlord or property management company does. The same concept applies to triplexes and quadplexes. While additional units may bring in more cash flow, managing tasks like lawn care, snow removal, and hallway maintenance becomes more complicated.

Another overlooked factor is managing tenant relationships.

With a single-family home, there’s no concern about tenants disturbing each other—there’s no one living above, below, or next to them. With a duplex, there’s still some shared space, but since it’s a 50-50 split, most tenants can find a way to coexist peacefully.

However, when you introduce more units, you increase the likelihood of interpersonal conflicts. Issues such as noise complaints, cooking smells, parking disputes, and general nuisances become part of the landlord’s job to manage. These aren’t hypothetical problems—I personally own a triplex and know someone who owns a 10-unit building. They’ve dealt with complaints ranging from loud neighbors and strange odors to parking disputes and even tenants throwing eggs at cars.

Another major consideration—especially in my local market—is that quality triplex and quadplex opportunities are rare. The few that do pop up are often overpriced or converted from single-family homes over a century ago. Many of these conversions desperately need full gut renovations.

If a property hasn’t undergone a major renovation in the past 25 years, it will almost certainly become your responsibility in the near future. I know this firsthand—my first investment property was one of these older conversions. When you combine outdated plumbing, inefficient heating systems, intertwined electrical wiring, and poorly designed layouts, you’re looking at major headaches.

While some multifamily properties were originally built as rentals, the majority of available triplexes and quadplexes in my market are aging conversions that require extensive rehab. Don’t fall into the trap of being lured by good-looking cash flow numbers—those properties can become money pits.

To wrap this up, my advice to clients is simple: Don’t overlook a solid duplex while chasing the dream of a better triplex or quadplex.

Good luck!

[Alan Asriants @AsriantsAlan]

This is exactly how much it cost me to rehab a 2bed 1 bath apartment in Philly

A lot of clients ask me how much I spend on a typically full cosmetic rehab of a duplex unit in Philly. I decided to break it down and share the REAL costs and not just estimates.

A lot of the work was screwing down and fixing the subfloor as well as completely screwing and securing the ceiling sheetrock. Homes built pre 1990 usually didnt have screwed in sheetrock it was all nailed in. Overtime the sheetrock sags and causes the ceiling to hang and eventual come down. This happened while a tenant was living there. So I wanted to be proactive and resecure all sheetrock on ceilings. In certain spots there was about a 2 finger gap between the ceiling joists and sheetrock. So note to all owners of older builders – this is not a bad idea to include when doing a large scale rehab.

Total labor cost: $13,000

For the amount of labor and the materials he was including this was a really solid price.

What was really surprising was how expensive materials were. This is even considering that my contractor paid for the quartz, I got a black friday deal on appliances (all in $1000), and my kitchen cabinet cost is under GC pricing due to my relationship with them.

Kitchen Materials: $4286.86

This includes: Cabinets, appliances, backsplash, hardware, some electrical

Flooring Materials: $3149.05

This includes: laminate flooring, tile, underlayment

Bathroom Materials: $2046.85

This includes: Vanity, faucets, shower faucet, new tub, tile, hardware, etc

Misc Materials: $6832.94

This includes: light fixtures, electrical wire, some plywood, spotlights, electrical materials (outlets, switches, etc), paint, hardware, hinges, caulk, gfci outlets, paint, trash clean out, smoke detectors, closet shelves, garbage disposal, glues, trim pieces, transition pieces, trash bags, breakers.

Its crazy that small items like this add up very quickly. This is the part that no one really considers in their costs. All the little stuff while it seems like you’re only spending 100-200 at a HomeDepot run, when you do that 10-20 times, it adds up significantly.

This brings the TOTAL COST: $29,315,70

For those who like per sqft breakdown it costs roughly $29/sqft – This apartment is almost exactly 1000sqft

There you have it! (FYI this will likely be cheaper for me for this level of work than someone new. Less mistakes, connections for materials, lower contractor prices,etc)

If you want to check out the full scope of work you can see it BELOW 📷

General Work

 Remove all old carpet and dispose of it.

 Install new laminate or vinyl flooring.

 Screw down all floors and level them to prepare for laminate.

 Remove existing baseboards and install new baseboards.

 Install new decor outlets and light switches.

 Secure all ceiling sheetrock, spackle, and paint.

 Sand, spackle, and paint the entire apartment.

 Sand and paint all doors.

 Install hardware on doors.

 Adjust and fix any closet hangers and shelves.

 Paint all closets and install secure wooden shelving.

 Install blinds on all windows.

 Install curtain rod on balcony door.

 Haul away any demo/trash – Owner pays for cost of trash – contractor to provide all the receipts

 Pick up any/all materials for project and deliver to jobsite

Kitchen

 Install new cabinets.

 Remove soffit and half wall, reposition outlets and switches.

 Extend half wall to match hall.

 Install bar island (12 inches) on half wall.

 Install two pendant lights above the half wall.

 Install new tile on kitchen floor, including floor cement board and tile.

 Install new appliances (refrigerator, range, microwave, dishwasher, and garbage

disposal).

 Run dedicated electrical lines to the refrigerator, range, microwave, dishwasher, and garbage disposal.

 Install faucet and cabinet hardware.

 Install all necessary plumbing

 Install backsplash.

 Move outlet from behind range to more optimal location

 Install GFCI outlets within 4 feet of each other along counter space.

o At Least two dedicated lines – all on GFCI breakers and at least one GFCI outlet

per circuit

 Install dedicated electrical circuits as follows:

o Microwave: Dedicated 20-amp circuit (12/2 NM wire with a ground).

o Garbage disposal: Dedicated 15-amp circuit (14/2 NM cable with a ground).

o Refrigerator: Dedicated 20-amp circuit (12/2 NM wire).

o Gas range: Dedicated 120-volt, 20-amp circuit (12/2 NM cable).

o Dishwasher: Dedicated 15-amp circuit (14/2 NM cable with a ground).

Bathroom

 Demolish existing bathroom elements.

 Install new cement board on floor and tub surround.

o Seal with cement tape and red guard

 Install new fan, light, mirror, vanity, and replace toilet lid.

 Remove old tile and install new tile.

 Install new hardware and replace any old drain and supply lines.

 Install niche and tile from bathtub to ceiling.

 Install new bathtub and GFCI outlet.

 Light and fan on same switch

 Install all necessary plumbing

Living Room

 Install sliding door board trim.

 Install spot lights.

 Install 3-way switches in the hallway, living area and staircase (where marked).

 Install new air vent covers.

Hallway/Staircase

 Install 10-inch LED light.

 3-way switch (one near kitchen other near bedroom)

 Place laminate with Metal bullnose

 Install spotlights over staircase and one at landing at the bottom

o lights on 3 way switches

Balcony

 Paint railing.

 Replace light

Bedrooms

 Install spotlights in bedroom (up to four per bedroom).

 Install new fan.

 Spackle, sand, and paint.

 Paint closets and shelving, ensuring proper installation of shelves.

 Install spotlight in walk-in closet.

Outside

 Paint stair railing.

 Install or repair 2 doorbells.

 Install or repair 2 exterior lights.

Materials Included

 Cement/hardy board, drywall material.

 Granite slab for countertop and bar.

 Kitchen sink (D shape).

 Setting materials (thinset, grout, drywall tape, red guard, etc.).

 Baseboards, door, and balcony trim.

 Plumbing materials (excluding fixtures).

 Fastener screws.

[Alan Asriants @AsriantsAlan]

Why Class D/Section 8 returns are not as good in Real Life vs on Paper – Real example

I often share this story with potential clients, investors, and those looking to start their real estate investment journey. My goal is simple: to illustrate why investing in lower-priced neighborhoods can be riskier and less rewarding than it seems.

I had a client who owned five properties in these areas, all rented through Section 8. He purchased them about seven years ago for an average of $80,000 each. Since they needed renovations, he invested roughly $30,000 per property to make them rent-ready—bringing his total investment to $110,000 per unit.

Once rented, he quickly encountered issues: non-payment, eviction filings, constant repairs, and tenant-related damages. Over seven years, he barely turned a profit. By the time he covered eviction costs, lost rental income, and re-renovated after tenant turnovers, any potential gains were erased.

Seven years later, his properties had appreciated to about $130,000 each—a 62% increase on paper. Sounds good, right?

Not exactly.

Before listing each property, he had to invest another $15,000–$30,000 just to refresh them for sale. Despite holding them for seven years without making any real profit, his total investment per property had now ballooned to roughly $140,000. And that’s before factoring in selling costs—commissions, taxes, and closing expenses. When the numbers were tallied, he had actually lost about $10,000–$20,000 per property.

Here’s the kicker: Had he simply bought the properties for $80,000, left them vacant for seven years, and only paid taxes and insurance (about $1,500 per year per property), his all-in cost would’ve been around $90,500. Even after spending $15,000 on a basic refresh, he could have sold for $130,000—without the headaches of evictions, repairs, and property management. And yet, after all expenses, he would have barely made a few thousand dollars.

So, despite the 62% appreciation, he still lost money. And that’s not even accounting for the countless hours spent managing the properties. He was burned out.

The Problem is two fold:

Cash Flow on Paper ≠ Real Cash Flow
Many investors assume rental income will flow smoothly, but that’s rarely the case in high-risk areas. In Philadelphia, for example, landlords cannot deny a Section 8 tenant based on credit score—only for violent crimes or drug offenses. That means even applicants with a 400 credit score may qualify, increasing the risk of evictions, non-payment, and high maintenance costs. The projected returns often don’t materialize in real life.
Appreciation Is Misleading in Low-Value Markets
While values in these areas do rise, the percentage gains are deceiving due to low starting values. So even a whopping 62% increase is only 50k of a 80k property.
What baffles me most is how easily people jump into these investments in unfamiliar neighborhoods – especially out of state! It’s like choosing to invest in a friend’s startup instead of the S&P 500—just because the startup promises big returns at a lower entry point. The logic doesn’t hold up…

Let’s compare this with another investor who took a different approach.

Seven years ago, Investor X purchased a duplex in a stronger market for $300,000. They invested $50,000 in cosmetic renovations, bringing their total investment to $350,000. From the start, they cash-flowed around $500/month, had minimal tenant issues, and turned a profit year after year with little management hassle. Keep in mind rents also went up and opportunities to refinance were also available – elevating that figure.

Today, that duplex is worth $475,000–$500,000. If they sell, they barely need to renovate because the demand is high for high quality RE. Their appreciation profit alone is nearly $100,000, and that’s not even counting rental income earned over the years. With 100k there’s plenty left over after commissions and closing costs are paid.

Don’t chase high cash flow and “too good to be true” returns. If an investment looks too good to be true, it probably is. And please stop listening to gurus and paying them. it is their job to “sell” you something, not build a relationship with you. Its a lot harder to sell a $15,000 course that’s titled: Invest in high quality assets and build solid equity vs “Passive income while you sleep – how section 8 helped me build a $100k/m portfolio”

Good luck!

[Alan Asriants @AsriantsAlan]

When submitting offers you don't have to stick to $5k increments!

It's very common in real estate negotiations to move in increments of $5,000. I hear it all the time. A home is listed at $400k, there are multiple offers, and the questions start rolling in — should we offer $415k? $420k? $425k?

We've grown so accustomed to these round numbers that we forget we can always negotiate in between.

$420,000 might be a strong offer, but $422,600 is just that much better. For most buyers using financing, the extra $2,600 barely moves the needle on a monthly payment — but it's an additional $2,600 in the seller's pocket, and you're already ahead of competing offers at $420k. That small difference can be the deciding factor in a multiple offer situation.

As a seller's agent, I often see offers come in clustered around the same price point. At that stage it really comes down to the smaller details — deposit amounts, dates, timelines. An unconventional number signals that a buyer has thought carefully about their offer, and that matters.

I encourage all of my buyers to move away from the $5k increment mindset and start thinking across a full spectrum of numbers. It works in non-multiple offer scenarios too. If you're negotiating over a $5k-$10k gap, try meeting at $7,200 — it's better than $5k and much closer to $10k than the seller expected.

The same principle applies to sellers. If your home is listed at $400k and a buyer comes in at $395k, counter at $398,000. It closes the gap psychologically and makes it easier for both sides to get to the finish line.

Small numbers, big impact. Hope this helps!