All Forum Posts by: Antoine Joseph

@Joseph Wright it has a new roof and some recent exterior work done. I'd say $15-20K work of cosmetic work needs to be done on the inside.

Looking for a cash buyer that can close in 2 weeks or less.

Mt. Airy and Germantown are both very hot right now and I'm sure the recent Inquirer article about the neighborhood will fan the flames.  Looking for numbers that make sense will always be most beneficial to your bottom line in any neighborhood so buying at the right price is key.

Thanks @Steve Babiak

I'm looking for a real estate lawyer in Philly that has experience writing up seller financed agreement of sales and purchase contracts. Anybody have suggestions? 

I would like to hear from people that invest in the houses under $15,000 (not at the auctions) that are for sale everyday. All of the advice that I see on BP is about staying away from the roughest neighborhoods. I, myself, am a landlord in Pennsport, where I can apply all the rules of thumb about tenant screening to my applicants and I get a good pool of candidates to choose from every time I have tenant turnover. However, I see sales everyday on MLS in neighborhoods that would suggest investing will not be a good idea and there are plenty of sales for under $10K even. I would like know what is your exit strategy? If you're landlording, how much cashflow are you expecting every month when you purchase a cheap property? Lastly, if you're not from the neighborhood that you're investing in, how do the neighbors react to your projects?

Hello BP,

This is actually an ad for renting a condo. I had to put it in the selling category b/c I didn't see any way to market for tenants. If anybody is looking to rent a nice luxury condo to rent out in Philadelphia please let me know. Its 1 bedroom with a den and 2 full baths. You will have access to a 25m pool, fitness center, 1 parking spot in the garage, free guest valet, 24 hour concierge and more. 

@Kathryn Krueger I don't own any personally but I'm familiar with the area.

Welcome to BP Kathryn,

Germantown is very diverse as you mentioned. I would say east of Germantown Ave will have generally smaller houses, that are less expensive and therefore will have lower rents and purchase prices than west of Germantown Ave. There are definitely gems on both sides you will be able to find something profitable with some investigation. Good luck!

After that, I'd say get out to some REIA meetings and talk to people doing it now. Then figure out how you want to start, because there are 100 ways to get involved and make money in real estate. it really depends on what you want to do and what you want to get out of it.