All Forum Posts by: Erich Beyer

Thanks Anthony,

Yes I know which is actually why I'm posting here. We normally would have no problem 

My brother and I own a handful of properties in Phoenixville. Check out the Phoenixville Real Estate Investors Association on facebook. Feel free to reach out with deals or $$$! 

Hey Nathan, thanks for the reply. He's a pretty old school guy and I had a three way call with him and my hard money lender; he was adamant that he would not take second position, regardless of the amount.

Hey All,

My brother and I have a verbal agreement (owner will sign a contract with POF) on a package of properties in downtown Phoenixville, PA all on one parcel. We are seeking $450,000 for a short term (6-9 months) second position loan. The owner has agreed to a purchase price of $750,000, and will hold $300,000 for two years, but will not take second position. If you would prefer to JV for the full purchase price we could do that as well. There are three houses, one duplex and 23 storage units all on one parcel. We will be subdividing all, rehabbing and refinancing them with our bank we have a very good relationship with (Phoenixville Federal). We have spoken with the borough zoning officer, our zoning lawyer, as well as our engineers we've used in the past and all say the subdivision should go through without a hitch. We will do the rehabs and subdivision for $150,000, and property has an ARV of around 1.3M. Any questions please feel free to post or pm. Info on our past deals see

https://www.biggerpockets.com/forums/223/topics/24...

Look forward to hearing from you!

Erich 

I'm there!

Hey Ralph, I work up the street in Malvern. My brother and I have had a ton of success investing in Phoenixville where we live. Let me know if you want to connect! We'd be happy to help in any way we can. 

Had this issue last year with a duplex. We didn't have pest control in the lease so we took care of it. Guess what we have in our leases now..... 

You ever sell that condo? My brother and I invest in Phoenixville!

Tom, I, like you, love cars. I love Ferraris and definitely want one (F12...) one day. My brother and I have been investing for three years now and have 5 properties and 7 units with about 250k in equity. We have never taken a dime out of our business. We may however take 10k or so out in a year or two to trade in our cars for two used BMW m235i's for 35k or so. This post plays to my heart strings because I want an exotic car just as much as you do, I assure you. Also I'm 26 so if you do the right things a nice car doesn't have to wait till you're 60 and also not ruin your financial situation for the future. Good luck.

So I just spoke with the selling agent who said they are considering an offer at $275k. Any thoughts on the new price? If anyone has thoughts please post!