All Forum Posts by: Weis Sherdel

Would appreciate Philly folks' thoughts about the Pros and Cons of Overbrook neighborhood?  N. Peach St to be exact.  Quality of neighborhood, rental demand, whether the distance to city should be a concern, etc.  Any and all thoughts are welcome.

Would appreciate any thoughts on Overbrook neighborhood?  Is this considered suburb or city?  How is the rental demand, etc?

Dear BP community - I am looking into buying a SFR in Overbrook neighborhood of Philly (N. Peach St to be exact) What are your general impressions? I am looking for a stable B neighborhood, and will take lower returns. Trulia shows the entire region as green. Is there a strong rental market for that region? It's a bit of a hike from downtown. Should that be a concern?

@Sandra Holt - Congratulations, Sandra.

Can you share specifics?  Where?  How much?  What are your ratios?  That's if you don't mind.  

Appreciate everyone's rich feedback.

@John Ma - Thank you for that helpful information.  I am going to inbox you directly and get your opinion.

@William Aston - Your detailed observation and feedback are appreciated.  You seem to know your city.  University City interests me a lot for reasons you mentioned.  I have heard that I need to be on the 'fringes' to get something in the $60-$80.  This was described to me as the area South of Chesnut, North of Baltimore, and up to 53rd street.  Is this the same as UCD?  Would appreciate some coordinates.

@Account Closed - Thank you very much for your feedback.  I enjoyed reading that article.  Gentification is a complex and controversial issue.  No easy answer.

@Jay Hinrichs - I appreciate your time and expertise.  I now understand the nuance in your advise.  You're not categorically rejecting buy-and-hold - just cautioning us against dirt cheap property that may look strong on paper but will not perform in the long run.  That's all you had to say, man :-)

@Jay Hinrichs I have owned my home for the past 15 years, and just brought a property in Indianapolis. Forgive me for pushing this further, but you do not believe there is any market in United States where you can buy and hold a property in the long run for decent cash flow (8-9% CAP)?

@Jay Hinrichs Thank you for the detailed note.  Could you explain what a performing note, premier syndicator, and crowd funding are?  Whatever they are, they sound like sophisticated tools for a beginner than the simple strategy of buying a property for the long run and just renting it?  Of course, in the right city, for the right amount, and with the right PM company.

@Nancy L. - Thank you very much for a helpful answer.  I am going to write you directly to further pick your brain on Philly.

-weis

@Jay Hinrichs - Thank you for taking time to share your thoughts.

Forgive me, but I have noticed from this post and previous ones that you often caution people on what  NOT to do.  I wonder if you have specific recommendations on what TO do.  

I am looking to buy a SFR for about $60-$80K with 9.0%+ or better. Since I would be out of state (DC) and will not have boots on the ground, I would like to purchase turnkey. Is there a city you recommend investing that would meet that criteria? Do you categorically reject the idea of turnkey even for people who want to manage passively and who are living away?

Thank you,

-weis