All Forum Posts by: Kevin Uzelac

According to Redfin, Philadelphia homes are selling after only 31 days. The amount of homes sold this May is more than double last year with 1,816 homes sold. It's safe to say the bull market in Philly is not showing any signs of slowing down. 

@Paul Dante Pronio 50-60k in liquid assets would definitely be enough to get started investing in Philadelphia. Hard money lenders normally look for that kind of cash balance along with the fact that you already own a rental property. There are plenty of opportunities to fix and flip off market property in Philly but you just need to know where to look. Having your license will provide access to the MLS but you wouldn't need it to find off market property. I would suggest maybe getting a few flips under your belt, building up capital, then investing in some rental property in nicer neighborhoods to starting building that passive cash flow. Hope this helps!

@Matthew Irish-Jones that's wild man, it's a good time to be a seller or investor right now. We'll see how long this holds up.  

The median home prices in the U.S. have continued to trend upward in May with an all-time high of $380k according to Realtor.com. A staggering point I noticed in the Daily Dose is that there are less than half the total number of homes available for sale compared to last year but are selling 32 days faster than 2020 and 18 days faster than 2017-19. 

There are a few markets that are seeing the largest year-over-year growth in the country. Philly, Buffalo and Washington, D.C. are seeing growth +50% or more. 

According to DSNEWS Philadelphia is up 52.5% making it one of the markets every investor should keep an eye on at this time.

Crypto is definitely a good place to have a portion of your portfolio in. But it's always good to diversify to mitigate risk. Crypto is super volatile and you never know what kind of news or regulations are going to come out that will affect market i.e. Elon Musk tweets. I believe it's never a bad time to get into real estate as there are several strategies and methods that make any deal a good deal. Philadelphia has many up and coming areas that have opportunities for BRRRR investors and fix and flippers.

@Brian Tetitla it's definitely possible to buy a fixer upper for that price but you may need some additional hard money to complete the rehab and get it ready for rent/flip. 

Hello @Asish Balu, yes there are actually plenty of opportunities in Philly but for much less than 200-250k range. I would say you are better off buying multiple properties if you have that much money available to invest. My client just bought a place in West Philly for 125k and it needs about 40k in work with an ARV of 225k. That just gives you an idea of what kind of returns are out there right now. Let me know if you have any other questions about the market.

Hey @Brian Tetitla congrats on the beginning of your real estate journey. Piggy backing off of @Jonathan Greene, Philly is a great market to get into right now. The markets really hot but it's pretty block by block so you need to know where to look. I think 40-50k is a good starting cash amount but it all depends on whether your looking for flips or rentals. Also, how much work you're looking to put into the rehab. 

Hello all. I'm new to this real estate thing and Ive been analyzing rental properties here and there. I found a duplex that has peaked my interest and would like to go check it out and do a walkthrough. What sorts of things should I look out for during the walkthrough? Also, What are some key probing questions I should ask the seller to make sure I leave with all the necessary information to make an educated, smart decision as to invest or not. 

Being it is my first time I may need to gather more information than the experienced investor. What sorts of things should I try to get the seller to provide me to make my decision easier? What should I expect the seller to provide? I would appreciate any and all advice!