All Forum Posts by: Alexander Brian Frederick

Hey @Elizabeth Chang , as an agent in Philly, I strongly recommend investing down here! Compared to NY, annual taxes are pocket change and appreciation is happening very quickly. I would recommend looking into cobbs creek, mantua, and powelton in West philly for multi’s. There are rows and rows of duplexes in these areas and their relatively to Chestnut/Market/walnut st  and the universities make them attractive areas.  

Although I love Fishtown, inventory is very limited and most investors are starting to get priced out. I recently did a deal over there with a great spread, but it was not an easy find.  

Hey James, There have been a few postings about Strawberry Mansion lately but I'll relay what I've said before. Some of my investors who do section 8 rentals like this area due to it's proximity to Brewerytown and Fairmount Park. You can buy a sizeable house for around 30-35k pretty easily, and with section 8 you are automatically getting most of your rent due every month. I don't really think this area is for new investors even though purchase prices are low, but if done correctly, you can definitely cash flow out there. Hopefully the area will start to boom as Brewerytown/hardwood start getting priced out!

Hey Joe,

I think that Strawberry Mansion is good for investing if you want to buy/hold and rent out to section 8 tenants. A few of my investors are currently cash flowing out there with the help of the Government and they hope that as the 19121 boom expands, Strawberry Mansion will begin to appreciate. I definitely wouldn't recommend flipping out there as it's not a desirable location yet. It's a risk, don't get me wrong, but that's the name of the real estate investment game!

Hey Roman,

Delaware County is great for flips and rentals! Purchase prices are relatively low, Arv's are solid, and rent is usually around 2% of the purchase price!

Hey @Igor L. , this looks like a great deal! In terms of ARV and comps, you should never compare rehabs with new constructions as they are vastly different. Some homeowners want houses with the 'old neighborhood' charm and character. Also, definitely stay away from websites zillow and Icomps for comps- those sites can be up to 70% off on their numbers.

Now I don't know the specifics of your deal like beds/baths, lot size, etc, but looking at comps within a .1 of the area, I would guess you'd be in the upper 300k range. I see a 400k comp pending that is 16x56 and 2200 sqft and I also see another 2000 sq footer settled at 365k. If you need a more specific number, shoot me a message with more details and I'd be happy to help

Hey @Garrett M. , great question! Like most others in this post said, the cost of rehab depends on a lot of factors. As a general estimate, you should be able to get this done for under 120k. I recently sold an investment property to an investor in Point Breeze (18ft wide, 1500 sq ft with 4 beds 2 baths) that needed to be reframed and have everything redone. Due to the condition of the house, the contractor bid was for 110k give or take. Keep in mind,this house needed absolutely everything (basement, mechanicals, facade, etc), but the investor should be all in around 280k and can easily sell for 375k+ when it's all said and done!

Hey Daniel, congrats on your leap into the real estate world! Investment real estate can be incredibly lucrative if you do things the right way. As a licensed agent, I would suggest making sure you are building a GOOD list of connections. It's important that you find good contractors, good wholesalers, and good deals in order to make your returns as big as you want. Let me know if you need any help finding any of these things!

 I'm an agent that works in Germantown a good amount. Personally, I think this market is great for investors as it has a ton of flip potential and also comps out pretty high for rent. Shoot me a message if you need any help!

Looks like a really great event! I'll pass on this info to my investors- Thanks for sharing.

@Mike Dinh West Philly is the perfect model for small multifamily properties. Just by driving down Chestnut or Market, you will immediately notice the amount of Duplex's and Triplex's this part of town boasts. With the appreciation happening in all of philly and the limited amount of inventory, jumping into a duplex now would be more than ideal. If you need any help finding these deals in any of the areas you mentioned, let me know and I'll give you a hand!