All Forum Posts by: Kevin Uzelac

Investment Info:

Single-family residence fix & flip investment.

Sale price: $128,000

This investor bought a plot of land in a prime location of Philadelphia. His plan is to build a single family home zoned RSA5 to sell for $550k plus. He used all cash to buy the lot and will begin building soon! I'm excited to see what he creates.

@Caleb Coombe I know @Jonathan Dempsey is a pro when it comes to Airbnbs in Philly. It might be worth chatting with him about what your plans are.

Hey @Tracy Wang Philadelphia is a great location for cheap single family rentals. This market has also seen a lot of appreciation in the last year just like every other market has, making it even better for buy and holds. Taxes are low and there's a low barrier to entry. 

Investment Info:

Single-family residence buy & hold investment in Upper Darby.

Purchase price: $90,000

Current Rent: $900/mo

Market Rent: $1200 - $1300

This property is currently occupied by a month to month tenant at $900/mo. The investors plan is to either raise the rents to market rates ($1200 - $1300) or give the tenant notice to vacate. The property could use some light renovations so ideally the tenants will move out so the investor can put some work in and add some value.

Comps range between $145k and $150k so getting a nice refi shouldn't be an issue. This BRRRR should work out nicely for this investor!

How did you finance this deal?

100% Cash Financing

@Ryan McLaughlin I'd love to come to something like this but I won't be able to make it tomorrow. Please keep me in the loop if you end up doing something like this in the future. I know a lot of people that would want to hear your story that I can invite too!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Darby.

Purchase price: $170,000
Rent: $2252/mo

Market Rent: $3000/mo

The property is currently occupied getting $2252/mo with month to month tenants. The bottom unit is a 3 bed 1 bath and the top two units are 1 bed 1 bath each. With this amount of rent the property is cash flowing nicely but it has much more potential. Market rents for something like this are as much as $3000/mo so the plan is to either up the rents, or find new tenants. Ideally, they would find new tenants and do some light renovations before renting it back out.

What made you interested in investing in this type of deal?

The investor is interested in the Darby, Upper Darby and West Philly market because of the low cost of entry, high rental rates and excellent appreciation. This is just another nice rental she is adding to her portfolio.

How did you finance this deal?

The investor is using 100% cash.

How did you add value to the deal?

Once the tenants move out the investor plans on doing some light renovations to get it nice enough to achieve market rental rates.

Want to create a portfolio of cash flowing single family homes? I sell practically turnkey rental properties all throughout Philadelphia, PA. I also sell full gut rehabs that can flipped for nice returns. These are under contract off-market or MLS deals that we are selling at a discount. The prices range from $50k - $1mil and includes small single families up to average sized multis (4-10 units).

The majority of my deals are 75% deals on paper. Purchase, rehab, closing costs etc. equate to 75% of the ARV. The cap rates range from 5%-8% for rentals.

I have an acquisitions team that finds the properties, negotiates price and gets it under contract if the deals right. I will personally send you the deals (10-15 a week) along with comps straight off the MLS.

I will be your feet on the ground in Pennsylvania! My team has been here for 8 years so we have seen a lot of changes in the market and know the ins and outs of it.

Investment Info:

Single-family residence buy & hold investment in Collingdale.

Purchase price: $100,000
Cash invested: $40,000

Purchase: $100k
Est. Rent: $1300/mo
Rehab Budget: $40k
ARV Appraisal: $190k

The investor is going to fix this up a bit and rent it out for $1300 a month. He has multiple rentals in this area. This is in the Collingdale municipality which is one of the nicer sections of Darby.

There is a lot of room for appreciation and cashflow. This should be a perfect #brrrr in a couple years. I look forward to seeing the before an after of this one.

@Noah Evans nice flip! I like the black exterior. It looks sleek!

An agent at my brokerage recently sold two off-market single family homes in Darby Pennsylvania as a package deal for $160k ($80k each). One of the properties is rented month to month by a long term tenant at $825/mo and the other at $875/mo. Rentals in similar condition in the area are getting as high as $1350/mo! We also found comps on the MLS going for as much as $130k.

This pocket has always been a good rental pocket but now we're seeing ARV's getting to the point where fix and flips are certainly possible. Being able to flip in this area now just show's the high levels of appreciation thats been occurring in recent years.

According to the MLS 19023 home prices were up 27.4% in August of 2021 compared to last year, selling for a median price of $131K. On average, homes in 19023 sell after 39 days on the market compared to 45 days last year. There were 26 homes sold in August this year, up from 19 last year.