All Forum Posts by: Alex Capozzolo

@Anne Williams I echo what @Jimmy O'Connor mentioned about Philly. Additionally, we've seen a large increase in owner occupant buyers flooding the market within the past few weeks because banks are offering such low interest rates. This may be true for other markets as well!

Owner occupant buyers don't care as much about the ARV when they buy if they plan to live there for 20-30 years with their kids, cute dog, grandma, etc ... they can almost assume it will be worth more by the time they go to resell years down the road. They more concerned about locking in the 3-4% interest rates (or lower?) that banks are offering. We're seeing bidding wars in Philadelphia because of that, along with the investor thing that Jimmy mentioned.

Interesting to see the market ebb and flow during turbulent times!

@Jacinda Taylor There is a lot of competition in Philly but we don't run into other wholesalers too often on our leads. I think the pandemic and recent economic things going on may also weed some out temporarily. Let me know if you have any questions about philly!

Sorry to see you go @Joe O.. I've heard good things about Chat., TN ... small tech companies starting to move there, high speed internet, low price points but good cashflow depending on where you are in the city. Good luck down there!!

@Eva Brock thanks for the feedback, and I think you're right because we've had others tell us that to - to renovate the salon and update it ourselves, and then try to rent it out. 

Our initial concern was that if we did do that, then the next potential salon tenant would come in and want to still put their own spin/style into the place, and change everything again (paint, flooring, etc.). 

I think what we were asking was too steep!

We're currently reviewing applicants, and we're offering a free 1 month of no rent for them to do their own renovations inside during that time. If none of these applicants work out, we will be renovating ourselves and using neutral colors, and then putting up for rent again. Fingers crossed!

Just sent you a DM! 

@Kahleah Manigault nice, you're making your money work for you, paying off that mortgage instead of renting/paying someone else. Your older self will thank your younger self later!

@Daniel Baczkur Welcome! I have a similar story ... ish. I live in Santa Cruz, CA now. Moved here 5 years ago from Philly. Tried real estate out here for a bit with minor success but had trouble gaining traction. Now I invest in Philly with my buddy who still lives there. Lots of opportunity for both Cashflow & Appreciation in the same purchase in parts of Philadelphia, a big draw! 

I recommend trying to find a partner. There's a lot I can do from my laptop, but of course I'm limited in many ways since I can't be there in person. See if you can find someone with similar goals to you. That may jump start you towards your goals! 

Welcome @Nathan Meredith. Bigger Pockets is an awesome place to start networking. The first deal I ever did was from someone I met on this site! It's worth putting yourself out there. 

My partner and I host a meetup every other Thursday - virtually - for Philly Investors. Let me know if you want to check it out.

Good luck!

@Kahleah Manigault congrats on the house hack. Looking at positive monthly cashflow once you have that other unit rented? Philly is amazing place to start investing since the house hack is very possible. I personally invest in North Philly now but have looked into Cobbs Creek nearby you. 

Sorry about the hassle with you driveway. Maybe get a human sized cardboard cutout of The Rock and put him there as a space holder? I'd listen if The Rock told me not to park somewhere. 

@Tim Winter thanks for the tip and great point! I use the word commission and bonus interchangeably. On the platform we use it shows up as 'bonus' on the receipt, but smart to stay consistent with verbiage.