All Forum Posts by: David Ross

Thanks @James Masotti we're still around, just a bit busier than when we joined BP two years ago. Haha

@Sathya Weerasooriya To see what blocks you can go multifamily by right, go here http://gsg.phila.gov/map and click "Map Browser" in the top right. Choose "Zoning Map" and look for RM1 parcels. Then hunt those blocks by talking to people, meeting with local agents, or meeting wholesalers. Another option is to find someone with complementing skills and vision to partner up with.

@Daniel Flesher and the Cadre team have helped us a lot, highly recommended.

Hello @Matt Burns and welcome to BP. My team lives and invests in Brewerytown and we're focused on building a variety of housing types. There's lots of inventory that can be renovated at affordable prices and also vacant land available for new development. Block by block, for sure, but any hesitation can be addressed by heading over and walking around a bit.

I disagree with @Alan Delfiner about access. Brewerytown has bus routes that run directly downtown. The trolley runs along Girard to the BSL and it's easy access to the highways when needed. It's no subway line, but with the bus you're still downtown in 15-20 minutes. 

One thing that cannot be beat by Kensington and South Philly is Brewerytown's access to Fairmount Park and the trails along Kelly Drive and MLK drive. You see a lot of active renters and homeowners choosing this side of town for that reason.

Hello @Algernon Brown Both are going through a lot of re-investment, although Fishtown is years ahead from a commercial standpoint. This is a common request from NYC, DC, and LA investors, so please come down and explore the city over a weekend to get a better feel for what neighborhoods and which blocks in particular interest you most. Don't armchair it. Good luck!

So just following up on this thread. Sold at the end of Sept for $425k. Listed before finishing touches were complete and had under contract in ~10 days.

Hi @Yvette Chung and welcome to BP. 

I agree with @Jayson M. , you may be casting too wide a net and aren't focusing on one area well enough to learn the ins and outs of the neighborhood.

What are your long term goals? If you're looking to only reduce your monthly costs, there are neighborhoods on the rise where you can buy a modest 2-3 bedroom home for under $200k. Rent a room to a graduate student or professional and you can easily come close to breaking even and learn more about real estate in the process.

If you're dying to renovate a home, I'd suggest going conventional for a grandma house that you can cosmetically upgrade at your own pace, then after a year or so refinance with another bank.

Good luck to you in your search!

Thanks @Kim Coleman - your keyword alerts brought me here. They work!

Welcome @Shay Bromer! We should definitely touch base if we don't run into each other at Monkey and Elephant or RyeBrew. I'm living and investing in the area and we have a handful of projects in the neighborhood. Would love to see if we can help each other. Reach out and good luck!

@K.D Neider it's a neighborhood within 19121

@Nick Taskani - lots of variables. Check out Rentometer for some better ideas on rent prices per block. You can go three blocks in any direction and see very stark difference in housing quality, pricing, safety, and amenities.

Rough estimate for rehabbed homes: rents can range from $800/mo for a modest 2bed/1bath to around $1400/mo. Larger homes with 3-4 bedrooms will rent for slightly more. Then you'll have some higher-end apartments that rent at $1500 for 2 bedrooms... and some older stock housing you can rent for $600/mo...  It covers the spectrum.

@Lindsay Denny - Yes I agree these are on the radar of investors Good luck and let us know what you find. Also consider Kensington, Grays Ferry, East Falls, and Port Richmond...

Great post @Jeremy T.! 

The one thing I would add is to walk into a few local credit unions and just say "Hello". Get to know the personality of the bank team and the willingness to support small businesses like yourself. Let them know you're trying to build a mutually beneficial relationship, and asking what types of loans products they want to sell.

@Eric Hrlbock I use www.UpWork.com and there are many 3D designers looking for work. 

Offshore investors? I wouldn't touch that one with a 10' pole.