All Forum Posts by: James Blanda

This property is by no means a shell property.  This property currently has tenants in there which will be out by closing.  This things doesn't need to much to bring it back to the top of the market.  This block also has new constructions popping up all over.  This could even be a rental and hold until this matches the numbers seen in other areas of South Philly.

Great opportunity to pick up an easy project in a great pocket in Grays Ferry! This 3 bed 1 bath house sits on a 14x52 lot and boats just over 1000 sqft of living space (per public record). The property is currently in pretty good shape making it an ideal property for a first time flipper as well as a seasoned investor. Dont hesitate, this one will fly

I am a wholesaler in the City of Philadelphia.  I am currently selling about 9-15 Wholesale deals a month.  The problem is the market is slowing to Philly and my business model is catered to flippers.  With rentals becoming more prominent I am getting more deals but struggling to sell them because my lack of Knowledge.

Things I would like to know more about:

Mortgage rates and average payments, also typical terms, prepayment penalty

Cap rate for different Neighborhoods

Lowest Vacancy rates in neighborhoods

Ways to add value for high appraisals to pull out all cash

Would love to hear about anything else you think you could contribute!!

I am selling about 20-30 wholesale properties every single month.  I am a licensed agent and pull comps on all my properties.

I typically have a contractor walk through and give me an estimated bid before putting out to my list.

All Properties under 70% Market Value

DM or comment with contact info if interested.

Purchase: $100k

ARV:$260k

Rehab: I had contractor bid at $75k

-This property needs everything.

-Basement already is a Finish-able Height

-Add Central Air

-Update plumbing and Electrical

Contact me if interested!! This won't last long

Investors in Philadelphia have struggles finding good, reliable, and honest wholesalers. I saw the flaw in this industry and thought if I could only do this better I could easily out perform the competitors. My idea has worked perfectly and I am now moving over 20 properties every single month in Philadelphia.

I do this by being a licensed agent at a reputable brokerage. I accurately pull comps on all of my deals with strict criteria that my investors trust and value. I walk though my deals with contractors or if I feel comfortable enough, putting together an estimated rehab my self (obviously not always perfect but I try my best and I am normally spot on). I also coordinated with a hard money lender to pre-approve all of the deals I contract.

I feel my value to investors simplified is: I allow investors to focus on their projects knowing when they are finished they will have plenty of deals coming to their inbox from someone they trust wasting no time because as we all know TIME IS MONEY. My best investor pick up the first deal I send them in their criteria, a lot of times sight unseen because we have built this kind of relationship.

At the end of the day I am looking for LONG TERM relationships where we both make a lot of MONEY!!

Call/Text/Email and let see how we can best work together, every relationship is different!

Jim

Just started a new rehab project in Brewerytown Philadelphia.  Am working on hiring a contractor but before doing that I wanted to find out what the market in this area requires for level of rehab and different ways to add value.  Let me know if you have any information.

Hi Franklin, how are you today?  I can definitely get you access to some Lawyers in Philly.  I am a wholesaler who sells plenty of properties to investors.  A lot of investors have this issue and I have worked with them in the past.  Let me know if you are still in need of a lawyer.

What is the next neighborhood to be fully rehabbed?  Finding deals in Point Breeze and Brewerytown are getting hard to find.  What do you think will be the next hot spot?

I am looking for distressed housing in Philadelphia and I was wondering what is a good rule of thumb when purchasing here.  Including repair cost what percent of market value should I purchase at.  I have heard less than 74%.