All Forum Posts by: Jared Bourjolly

Yeah that's what I'm thinking.  I was running numbers last night and if I where to develop and rent it out I'd make my initial investment back at the 7 year mark from the accumulation of the cash flow or I could sell it next summer if the market it still hot.  This lot is located on 23rd street near Reed its 16x60

Hey Everyone,

I just wanted to get some additional thoughts on what I should do with my next purchase.  I'm currently in the process of buying land in Point Breeze Phila.  I'm debating if I should develop this land now and decide to sale/rent once construction is complete or sit on the lot for the next 5-10+ years and decide later.  The cashflow today would be nice or to double my investment if I develop and sale but I'm also open to waiting since I'll be paying cash for this parcel and I know the area will just go up in value.  I already own 3 other properties in the area so I'm familiar with the market. Additionally I was also thinking of possibly about getting a variance to build a duplex even though I know it will be unluckily the city will allow me knowing how ZBA is.

Thanks!

Wondering the same thing

I can also help you out.  I'm a CPA and Investor in South Philly.

I dont know about you guys but if it doesnt cash flow from day one then it's not a good investment.  Unless you're buying land...

Hi David,  I was wondering if you have a few properties in mind or what size properties you were thinking about purchasing?

Hi BP team,

I'm looking to possibly purchase a lot of land in Philadelphia that is zoned for duplex. Ideally I'd like to live in one unit and rent the other once construction is complete. Does anyone know of any lenders in the area who can help me finance this? Or should I consider a normal construction loan at 75-80% LTV then refinance into a conventional after construction?

Thanks for the advice!