All Forum Posts by: Joseph Ems

I’m looking for a good local bank that will give me a better rate for a cash out refinance on a triplex that I am wrapping up in the University City area of Philadelphia. Any feedback is greatly appreciated. Thanks all.

Hey BP Philly,

I wanted to get some feedback on investors opinions of the Strawberry Mansion area. I have seen a few people buying rentals based off of the fact that development in Brewerytown may eventually push over the boundary and work it's way into the 19132. Would you personally invest in the Strawberry Mansion area? Are you guys sold on the area yet? Do you think development will push into the area? If so, when? Thanks for the feedback, I always love hearing all of your opinions. 

Thanks for the feedback Joe! I think you might be thinking of my post asking about neighborhood classes. 

I still see a lot of promise for cash flow in Philadelphia. There are definitely neighborhoods where you can find cash flowing rentals. I'm just searching for the neighborhoods with the BEST cash flow opportunities.  

I would agree that the surrounding suburbs do have some really great cash flow numbers if you can buy in at the right number though. I've recently seen some very tempting deals in Delaware County. 

Hey BP Community,

I was curious to see what the opinion is on where you can find the best cash flow opportunities in Philadelphia using the BRRR method. From my experience and research I would have to say that I have seen some great numbers in the Grays Ferry, Germantown and Cobbs Creek neighborhoods. What's your opinion? I'm looking forward to hearing some feedback on this topic. Thanks guys!

Hey Dave,

I'm going to shoot you a quick PM where we can further discuss this.

Hey Dave, Germantown is a great spot to look at for a long term investment. In the past five years the average price of a home in Germantown has increased from $100k to $150k and the average rent per month has increased from $1,000 to $1,200. The neighborhood is growing and it’s attracting a whole new class of tenants and homeowners. As long as your rentals are not section 8, I wouldn’t be too worried about the type of tenants you’ll be bringing in.

Hey BP Community,

I wanted to reach out and hear some local investors feedback on what your opinions are on off-market deals. What do you think the pros and cons of these deals are? Do you prefer your deals to be off-market? Do you take preference to a deal that is off-market? Let me know what you all are thinking. 

@Alexander Brian Frederick The reason why I would group West Passyunk in is because the median sale price of a property in the neighborhood has increased by $35k since the beginning of the year and the neighborhood is beginning to mirror that of it's neighbor Point Breeze

Hey BP Community,

What are the class A, B, and C neighborhoods in your opinion based off of the projects you have done in the past and the experiences that you have had in these neighborhoods? I would assume that Northern Liberties, Fishtown, Fairmount, Graduate Hospital, Queens Village, Bella Vista, Poweltown, and Cedar Park fall into the A Class. Point Breeze, New Bold, West Passyunk, Brewerytown, Sharswood, and East Kensington fall into the B Class. And then the C class would include neighborhoods like Cobbs Creek, Greys Ferry, Port Richmond and so on. I may be off on this, I am just curious to hear some feedback on what other investors in the city think. Looking forward to seeing some opinions here.

Hey Daniel, welcome to BP. The Philly market is a great market to get into right now. There’s a ton of inventory and even more room to make money. I have actually sold Mauricio a couple of off-market wholesale deals and I would be glad to work with you and get some deals in front of you as well. I work for a private investment firm that moves 20-30 off-market deals every month. Let’s get in touch and talk about getting you that first Philly investment.