All Forum Posts by: Alex Benazet

Thanks @Scott Morris, any that you'd recommend? 

Hi All- 

I'm trying to build a list using ListSource with the Geography filter and it is only showing a few thousand available properties in Philadelphia - before I apply any other filters. Anyone have an idea of why this may be? There should obviously way more records here. Thanks! 

Can anyone recommend a contractor or contractors in the Philly area they've worked with recently that will handle a 203k/renovation loan process? 

Does anyone specialize or know a lender who specializes in the Fannie Mae HomeStyle Renovation loan program in the Philadelphia area?

@Colleen F. Haha duh! That makes sense. Thanks! @Brett Hannon just thinking hypothetically, I like the idea of a four bedroom SFH with a basement that I can convert into a 5th bedroom and live in.

@Brett Hannon Thanks! This is very helpful. I was able to google your answer and find more detail. The website I'm on mentions "the window must be able to open all the way and give at least 9 square feet of “floor area” - do you know what that means? 

Is anyone legally renting out a unit in Philadelphia area with a basement listed as a bedroom? I read through the property maintenance code and it mentions an egress and specifies the size of the window area (8% of the floor area). Wondering if this is feasible and if anyone has had experience with this. 

@Yvette Chung Welcome! I live in Philly and am also looking for something similar (SFH or Duplex to house hack). As far as I know, Philly property taxes are much cheaper than most areas in NJ. Of course, there are many other financial factors besides taxes that could affect the outcome of your investment. Good luck and feel free to connect if you have any questions.

All, 

I potentially know a few rehabbers/flippers that are interested in financing. My friend is well connected to people who may be willing to loan.  However, directly connecting the lender to the flipper poses the risk of us getting cut out. 

Is there a way to structure an agreement (without incorporating) so that the lender can anonymously lend the money through us to the investor? We would then take a cut of the transaction for putting it together. 

Sorry if this would be better suited in creative financing. If so, I'd be glad to move it. 

Thanks!

@Zachary Paul I plan on riding around down near point breeze/gray's ferry next. If I found a really compelling deal in Manayunk I would consider but it's a bit farther than what I had in mind. Northern Liberties/Fishtown is out of control, not worth it. It's a fun neighborhood, though!