All Forum Posts by: Kevin Mathisen

Hi Jared. Deals can be found at the sheriff sale (tax delinquent) auction either lots or shells. This would be all cash though as they are not title insurable for the first 12 months. There are also deals on the MLS. It is also wise to get on the email list of local wholesalers and let them know what area(s) you are looking to buy in. Are you looking to buy and hold or rehab/develop and flip?

see below

I have invested heavily in Strawberry Mansion since 2014 and hold over 50 properties in the 19121 and 19132 section of "the mansion".  I first bought in the area to escape the competitiveness of the market I was in and seeing as real estate investors typically follow the herd mentality I wanted to be the first one out to pasture.  I started picking up single family houses for peanuts; like 5 and 10k.  I renovate them all nicely, replacing all the major systems and installing hardwood floors and often even finishing the basements.  Back then I knew beyond the shadow of a doubt that this area would greatly appreciate soon and the past year it has really proven to be true.  The same properties that were 5 or 10k in 2014 are 40k++ now.  Developers from Brewerytown have also taken an interest in the area and are buying and fixing current stock while new construction are starting to pop up on 33rd street- and periphery streets.  This is going to be a great area with its proximity to center city, fairmount park, kelly drive etc.  I would love hearing people scratch their heads at why anyone would invest in the "hood".  This is a cyclical business that tends to follow trends and it doesn't take a genius to put 2 and 2 together to understand.  It does take a strategy though and some faith.  The area is still at a good time to buy in I recommend staying close or on 33rd street (park front!) If able and in the 19121 part.  

Hello BP community- I just took a trip to Shawnee mountain with my family and we stayed in a 2/3 condo across from the slopes.  Paid $425 for 2 nights through airbnb.  The place was clean and had great reviews so no complaints.  Just it was really outdated and poorly furnished so the investor in me realized possible opportunity as I know my wife and I could provide a better product.  Looked up values in the area and saw the exact unit we are in is selling for <100k.  Spoke to the owner and he is selling his 4 short term pocono rentals because he is moving out west.  We are interested in buying this place to utilize several times a year and rent out through airbnb or vrbo when we are not there.  After some brief research I have found out there are issues with some municipalities restricting short term rentals.  Besides the $500 license fee anyone know of any other possible issues?  Any advice for maximizing cash flow on short term rentals?  We would be interested in either simply holding 1 unit or quickly scaling to 5-10 units if it makes sense to economize by scaling.  Have also visited Lake Harmony and love it there- plus it is closer to Philly.  Would love some feedback and to connect with others.  Thanks for any and all feedback!