All Forum Posts by: Joshua T.

Hello - I come here soliciting advice as well as possibly getting referrals. 

I enlisted someone to do a turnkey package deal with me....find property, renovate, rent out.  I work at a corporate job full time (50-60 hrs/week) which is why Turnkey was the way to go.  The person found me a great property in Philadelphia that needs significant renovations.  I bought it a few months ago.  Long story short, the person was unable to do any renovations on it.  

Now I have a property that needs significant renovations (full gut job, re-build staircase, etc). Is it realistic to BRRR or flip properties on your own when you have a full time job? I do not have time in the day to manage contractors (nor do I want to deal with the headaches). I also know it takes a lot of trust. For me, the issue isn't putting in the time per se - I will spend a few hours in the night and certainly a lot of time on the weekends. It's just I am never available between 8am-7pm on weekdays. Is it possible to hire a general contractor/project manager and not have to be heavily involved from a time perspective during the day? If so, anyone have recommendations in Philadelphia? Thank you.

Vista Abstract. I recently used them for a closing in Philadelphia, they were good. 

Great, thanks. They are actually on the top of my list  

@Alan G. do you mind sharing what credit union in Philly?  I invest in Philly and am looking for a bank/union to do a cash out refi for me on a rehab. 

Anthony- for that price range, you are likely looking in the outskirts of center city. I just invested in something in the Overbrook neighborhood - if you want to go north I have heard of some decent cash flow in Lawn Crest. Something closer to CC such as Point Breeze or University City would be good, but would be more expensive. 

Hello all. There has been a few topics on this previously but nothing recent. I am in the process of rehabbing my first investment property for rent in Philadelphia.  I paid cash. 

I am looking for investor friendly banks/unions in the Philadelphia area that I can develop an ongoing relationship with. After the rehab, I am looking to pull my money out based on the ARV as quickly as possible and do another deal. If anyone has advice, please let me know. As I build my investment business I would love an investor friendly bank I can develop an ongoing long term relationship with for all different kinds of financing.

Any additional advice would be greatly appreciated. Thanks !

Thanks for the advice, Ryan.  I have actually embarked on that and am doing exactly what you mentioned--taking components I like from all of of them.

Hello - My name is Josh Truppo and I currently reside in Philadelphia, PA. I am the Director of Finance for a large national retailer but enjoy real estate / investing in my spare time. I got into real estate accidentally; my wife and I purchased our first condo in Jersey City, NJ but decided to rent it out when we relocated down to Philadelphia a few years ago. I am looking forward to my next real estate investment.

If anyone out there is familiar with the Philadelphia area, please feel free to reach out.  I will be looking to build my network here and any advice you have, please let me know. 

On a separate note-- I am beginning to build investment tools /models/spreadsheets to start getting my hands dirty in the financial modeling/metrics/analysis of rental properties. I know there are a ton out there including here on BP, but does anyone have a suggestion? I am finding some okay spreadsheets, but ideally i am looking for a very detailed one that includes detailed NOI, ratios, discounted cash flows, IRR, etc. with an additional component of refinancing/taking out a 2nd mortgage to fund the next project. It would be great to have graphs, etc as well. I found some for $$ (~$50) which is fine, but just trying to get other suggestions. Otherwise, I may have to take the time to build something detailed that I am looking for.

Josh