Philly rehab recommendations + ARV estimate help

[Ryan S.]

Hey Philly BP community,

I'm getting ready to buy my first property and am planning on doing a "live-in BRRR/flip" type of deal in either Fairmount/Spring Garden/Francisville or Fishtown/Northern Liberties/Kensington.

Many properties currently listed are already in good shape, but some look like they could use varying degrees of rehab. I'm not looking for full gut rehabs, mostly looking for something lighter for my first deal. I'm planning on doing a lot of the work myself if possible.

I'd love to connect with anyone around the area that has experience BRRRRing in Philly and/or has a good eye for estimating ARVs to bounce some of ideas off of. 

Thanks in advance!

[Louise Cornell]

@Ryan S. Ryan, congrats on working toward your first project. I would recommend finding a property that doesn't have any structural damage if you're looking for a lighter rehab. A cosmetic rehab (i.e: refinishing hardwoods, painting, fixing up a bathroom, new kitchen appliances) are easy fixes that don't cost much at all. In areas like Fishtown and Northern Liberties, you'll need a pretty decent rehab with higher-end appliances and fixtures to keep up with market value when you reappraise. Just something to keep in mind. Best of luck!