All Forum Posts by: Justin Tyler

Hello everyone,

I am looking for a real estate attorney and also an accountant that specializes in real estate tax strategy in the city of Philadelphia. If anyone has any recommendations for either of these (or both) please let me know. Much appreciated!

Best,

Justin Tyler

@Kevin H. @Eli B. Manayunk definitely seems like a cool spot, I drove around this past weekend and that one of the neighborhoods I checked out. I appreciate the suggestions!

@Marc Possoff It seems like Gray's Ferry is still a relatively high crime area, but I am sure it is block by block just like many other areas in the city. You do make a good point about U Penn and HUP employing a large number of people. 

@Francis Nguyen I appreciate your suggestions. I think Strawberry Mansion has too much crime for what I am looking for, at least for my first rental. A couple of others have mentioned Gray's Ferry and Cobb's Creek, I will definitely check these areas out. Thanks for the suggestions!

@Tim Sharkey I just sent you a message! Looking forward to talking with you.

@Bill Goodland good to know! I have seen a few small multifamilies that have potential. I just need to go and see them and get a better feel for the neighborhood. It would be awesome if I was able to find a multifamily that is in "livable condition" as that is a requirement for the financing that I plan to use.

@Eric Greenberg thanks for the info! I totally agree with you about driving around and getting a feel for the city. As I am currently living in Wilmington its a short drive so that's the plan.

@Sheryl Sitman thank you for all of this valuable information! I am using the day today to finish mapping out the neighborhoods I think would be good to invest in and then I am going to drive these areas tomorrow to get a better feel for them. 

Hi Philly investors! My name is Justin Tyler, I am new to investing in real estate and I am currently searching for my first rental in the city. While I am interested in building my own portfolio of rentals, I am also hoping to find a mentor that is currently at the level that I hope to be at someday. I am searching for a medium to large Philly investor in the multifamily/development space, that could use an extra hand in their business. 

I am not looking to be paid, just looking to gain experience in the industry I am interested in working in. I believe having a mentor that has achieved what you hope to achieve can be extremely beneficial, and I am willing to work my butt off for free in exchange. Please respond to this post or message me if you yourself are willing to be a mentor, or if you know of someone that might be interested. Thanks!

- Justin Tyler

@Daniel Quinn thanks for your response! I am definitely looking to stay away from neighborhoods with too much crime. Appreciation is nice, but if I am unable to attract quality tenants than its a bad investment in my book. Brewerytown caught my eye as it is close to center city and in the lower part, it seems like there is less crime and gaining popularity.  

@Joseph Scorese Thanks for the suggestions! Public transportation is definitely important. I see that you are a conventional lender in the city. Do you work with new investors? Do you take DTI into consideration for rental investments, or do you base everything on operational performance alone? I am looking to add a few properties to my portfolio over the next year but know DTI will be high unless the rental income from my first house hack is included in the calculation.

@Kristin Feerst appreciate the heads up! I definitely want to stay away from neighborhoods with too much crime. I want to be able to attract renters which will be difficult if they are afraid to walk around the neighborhood. Based on your comments I've started identifying neighborhoods to stay away from. Thanks!