New Rental Investor from Philadelphia, PA

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New Rental Investor from Philadelphia, PA

Joshua T.
Philadelphia, PA · Member since 2016 · 8 posts · 4 votes

Hello - My name is Josh Truppo and I currently reside in Philadelphia, PA. I am the Director of Finance for a large national retailer but enjoy real estate / investing in my spare time. I got into real estate accidentally; my wife and I purchased our first condo in Jersey City, NJ but decided to rent it out when we relocated down to Philadelphia a few years ago. I am looking forward to my next real estate investment.

If anyone out there is familiar with the Philadelphia area, please feel free to reach out.  I will be looking to build my network here and any advice you have, please let me know. 

On a separate note-- I am beginning to build investment tools /models/spreadsheets to start getting my hands dirty in the financial modeling/metrics/analysis of rental properties. I know there are a ton out there including here on BP, but does anyone have a suggestion? I am finding some okay spreadsheets, but ideally i am looking for a very detailed one that includes detailed NOI, ratios, discounted cash flows, IRR, etc. with an additional component of refinancing/taking out a 2nd mortgage to fund the next project. It would be great to have graphs, etc as well. I found some for $$ (~$50) which is fine, but just trying to get other suggestions. Otherwise, I may have to take the time to build something detailed that I am looking for.

Josh

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Noman Tariq
Philadelphia, PA · Member since 2016 · 67 posts · 18 votes
10y

i would def be interested in some of these models as well. I have a real estate portfolio in Philadelphia that I've been debating to sell and would be nice to input the details into some of these models to compare them to the bigger guys

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  • Noman Tariq
    Philadelphia, PA · Member since 2016 · 67 posts · 18 votes
    10y

    i would def be interested in some of these models as well. I have a real estate portfolio in Philadelphia that I've been debating to sell and would be nice to input the details into some of these models to compare them to the bigger guys

    1Reply
  • Kelly Bochna
    Philadelphia, PA · Member since 2016 · 21 posts · 13 votes
    10y

    Welcome to BP @Joshua T.!  I am relatively new to the Philly area as well (less than a year) and I am at the stage of getting a better understanding of the different neighborhoods and the overall real estate market here.  Aside from the forums on BP and the other resources available, I have found that the local meetups are extremely beneficial.  Create an account on meetup.com and take a look at all the different real estate events going on, there is always something going on.  Good luck and see you around the site!

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  • Ryan Goldfarb
    Flipper/Rehabber · Jersey City, NJ · Member since 2012 · 204 posts · 109 votes
    10y
    Originally posted by @Joshua T.:

    Hello - My name is Josh Truppo and I currently reside in Philadelphia, PA. I am the Director of Finance for a large national retailer but enjoy real estate / investing in my spare time. I got into real estate accidentally; my wife and I purchased our first condo in Jersey City, NJ but decided to rent it out when we relocated down to Philadelphia a few years ago. I am looking forward to my next real estate investment.

    If anyone out there is familiar with the Philadelphia area, please feel free to reach out.  I will be looking to build my network here and any advice you have, please let me know. 

    On a separate note-- I am beginning to build investment tools /models/spreadsheets to start getting my hands dirty in the financial modeling/metrics/analysis of rental properties. I know there are a ton out there including here on BP, but does anyone have a suggestion? I am finding some okay spreadsheets, but ideally i am looking for a very detailed one that includes detailed NOI, ratios, discounted cash flows, IRR, etc. with an additional component of refinancing/taking out a 2nd mortgage to fund the next project. It would be great to have graphs, etc as well. I found some for $$ (~$50) which is fine, but just trying to get other suggestions. Otherwise, I may have to take the time to build something detailed that I am looking for.

    Josh

    Welcome, Josh!

    If you're up to the task, I'd recommend building your own. Every investor has his/her own approach to evaluating a deal, and building a model suited to yours will benefit you in the long run. You'll also reap the benefit of learning as you go.

    Despite the quantitative focus, modeling is an art form. I'd suggest looking for a few spreadsheets that include the components you like, and melding those components into a model that is your own.

    If time is a concern, start with the basics, and add the other elements as needed.

    0Reply
  • Joshua T.
    OP
    Philadelphia, PA · Member since 2016 · 8 posts · 4 votes
    10y

    Thanks for the advice, Ryan.  I have actually embarked on that and am doing exactly what you mentioned--taking components I like from all of of them.

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