All Forum Posts by: Dave Ventura

Hi Amir,

Those recommendations are all still good, I wouldn't call them saturated yet, not to the level of say Point Breeze atleast. Personally I have done alot of work looking at deaks in Germantown and Cobbs Creek. 

For Cobbs you are looking at approx the following: 55-65k purchase, 55-65k rehab, 175 to 190k ARV depending on the block and how busy the street is.

For Germantown its more like 45k purchase, 55k rehab, 140k ARV. Germantown is highly street dependent though. It varies drastically and I recommend driving the area first to really get familiar. There are some really nice pockets to be found. You can also start to branch into East Mt Airy. Prices go up but so do the ARVs. I have a flip going on there now.

I believe Richmond and Strawberry Mansion are in your target range as well but Kensington depending on zip code can be pricey for aquisition. 

Hope this helps!

@Christian Paluzzi your realtor has got the right idea. I have a flip in West Mt Airy right now and was continuing to look in the area you mentioned as well. 

Another place in that neck of woods I would recommend is West Oak Lane. If you can grab a property in the right area for 60-70k the comps are around 180k, some upwards of 200k if you grab one of the all stone buildings. The more north in that area you can be, the better. Granted you are probably going to have to look off market to find a decent deal. 

Germantown is close to me as I am in manyunk. I ended up going with Mt Airy and just closed in Friday. 

The other areas are good except point breeze, you would be too late to the game to make any money down there, shells are selling for way too much to make a flip or a BRRR worth it. And buying turnkey at 20% down will have you with a negative cash flow. Plus in my personal opinion it is way too saturated and there will be less demand for rent in the future due to the massive supply.

Hi Marioly,

I actually just finished mine last April in my house hack as well.  I'd be happy to share some info.  Feel free to message me.  

Any chance you can post norristown area? Thanks!

Now that you say it that way I totally agree with you. That would definitely make a lot of sense functionally. Thanks for your help!!

Nathan, so are you thinking it was originally a master bedroom with the bathroom in the back? I just don't see why anyone would down size. 

Hi BP,

I am rehabbing my bathroom in my house hack right now and after demoing the wall I realized the studs were pretty new so I am assuming they are not the original layout. Plus the work is pretty shoddy from the previous "handyman" owner.  I am trying to figure out how the property was laid out previously and if it was possibly a 4 bedroom at some point. I would never understand why someone would downsize but if you see below it is pretty odd. 

In the pics below the yellow highlighted walls are the ones that are considered newer and what I believe are not part of the original build.

My thoughts are that maybe there was a master bedroom at some point or a bigger bathroom. Looking to see what others think or if someone is familiar with layouts in the old manyunk row homes. I have only been in a few. Thanks!!

Style: row home
Year built: 1920

Location: Manyunk, Philadelphia PA

Hi Samantha,

My first question would be did you pay him up front or did he give you a quote and you still have yet to pay him?

If you haven't paid him yet then I would negotiate, because personally I wouldn't pay full price for a job that wasn't fully complete. I also live in Philly and I have a plumber that I really like that doesn't charge me until he completes the work to 100%, even if he has to come back. 

Just my thoughts and experience, others might have more to say.

Been following this for a while and recently found a possible better solution. You can move the title of your property to a land trust with you, or you and your partner, as the beneficiaries - initially. Then you can change the beneficiary to your LLC without the bank calling the loan as this change is not recorded. Additionally charging order protections will shield the land trust from personal issues directly affecting you or your partner and not affect the LLC or trust.

You would also still want to have the umbrella policy in my opinion but this is another route to look into.  I have my attorney currently digging into it more and can report back if anyone is interested.