All Forum Posts by: Elizabeth Rose

Thanks a ton for your feedback, @Tim Jacob! Do you consider most/all of 21213 to be D class? 

Hello! I'm a rental property investor looking to acquire distressed townhomes in West Philly to implement the BRRRR strategy. I plan to acquire 5 units within the next 12 months and more after that, so I'm looking to establish a good long-term relationship with a realtor who is super familiar with the West Philly market and is comfortable working with an out-of-state investor. Looking forward to connecting!

Hi friends! What neighborhoods in Baltimore are great for BRRRRs right now? 

Based on my initial research, I'm looking at the 21213 zip code but I'm open to others (no D class neighborhoods though). 

Specifically, I'm looking for neighborhoods with a good amount of distressed 3+ bedroom townhomes for sale for $120k or less that require a moderate amount of renovation (no gut jobs or major structural issues) and that will get me a rent-to-price ratio of 1% or higher on the final ARV.

Thanks in advance for any thoughts/ideas/suggestions!

Thanks for this insight @Eric Greenberg - I'll DM you!

Thank you @Ebony J. for this insight, much appreciated!

I'm thinking of doing some BRRRRs in Philly but notice that the population has been shrinking since 2020. BP has a great article on this here: https://www.biggerpockets.com/blog/philadelphia-real-estate-market. Apparently, the Philly population has shrunk down to where it was in 2014.

If you have rentals in Philly, I'm curious if you've had trouble finding good tenants and/or getting the rents you want? Do you find it's taking longer to fill a vacancy? 

Housing prices are low but if there's too much inventory and a shrinking pool of renters, I'd be concerned about vacancy rates and cash flow. Thanks in advance for any insights!

Thanks for the insight @Nate Meeker! That's super helpful.

Hi @Ebony J. - thanks for sharing your experience! I'm also considering the program.

Were you able to get a property under contract in the 90 days? Or did you submit a few offers in that maybe didn't get accepted for some reason? I'd love a bit more detail if you're game.

Thanks so much!

Thanks for the insight @Kenny Simpson! Makes sense.

Does anyone know the answer? I'd love to purchase a property that allows short-term rentals there but the city now requires a license for these and they are in very short supply/difficult to get.

The idea of purchasing a room at the Hard Rock Hotel seems like it may be a great way to get into the short-term rental market there and also have someone else manage all aspects the rental, which is ideal for me. But also, I see 13 rooms for sale there right now so it makes me wonder if there's something wrong with the building, a special assessment of some kind, etc. Does anyone have any intel on this?