All Forum Posts by: Alex Uman

@Alecia Downing, Port Richmond is in North East Philly, Point Breeze and Gray's Ferry are in South Philly, Cobb's Creek is West Philly. Upper Darby, Collingdale, Aldan and Glenolden are all suburban area's west of Philly in Delaware County.

@Beka Shea Congratulations on successfully refi-ing and cash flowing these properties. I see Pottstown continuing to appreciate over time and is a great spot for rentals. When you eventually decide to liquidate you'll likely find yourself making a lot more than you put into these properties. All the best in your investing!

@Frank Nouma, I'm with @Ian Walsh on this one. Definitely review your comps before making any decision on this deal. This would likely work better as a flip then a rental and you'll want to be certain about your ARV before pulling the trigger on this one. Good luck!

@Ruben S Paul with the property taxes as low as they are here, its not like you'd be breaking the bank in holding costs thats for sure!

@Ruben S Paul buying land in this area, like @Will Fraser mentioned would be purely speculative. It would likely need to be a longer term buy and hold for this pocket due to the drug problems you had mentioned. While appreciation will eventually spill over from nearby Port Richmond and East Kensington, this process will likely take a long while before it reaches up to where you are looking.

You've taken the first step by joining BP. I would recommend simply networking as much as you can, attend local investor meetups and leverage your knowledge as an investor to better serve investors as an agent. Good luck on your new career path!

All depends on the holding cost and future appreciation. In my market, land lots can be quite valuable as a buy and hold with the anticipation of future development in the area. Luckily, property taxes for land are quite low here in Philly and the holding costs for a single lot can be as low as $100/year. That being said, I wouldn't hold on to land in areas that have no expected development/appreciation. All the best!

I'd also take a look at condition based off of available pictures. Newer rehabbed properties will pull in more value than outdated older interiors. Typically, no pictures available is a sign that the comp may be outdated or in bad condition, thus worth less.

You're in a great position here not needing to find agents as you already have buyers ready for the property. Reach out to the tenants and figure out when/how they would like to take title, for what price and then try to find/get in touch with a Title/Escrow company to facilitate the transaction.

In the city itself you should keep comps within .25 miles but exclude properties that cross significant borders such as Broad St, Market St etc. For areas with many flips this shouldn't be hard to run using the MLS. Outside of the city you could look a bit further away as long as you remain in the same school district/zip code.