All Forum Posts by: Marc Possoff

@Abel Curiel thanks! Looking at the section 8 rates here in Philadelphia looks like the rental rate is $1341 for a 2 bedroom according to this....

http://www.pha.phila.gov/media/178250/hcv_voucher_briefing_guidebook_2020_3_sheet.pdf

Have property that I completely renovated and gutted with my cousin about 13 years ago who’s a contractor. We did it without permit but the house is solid and up to codes. We have had a family member living in there and now they are going to be moving out of state. We did charge the family member rent. 

Anyway was thinking about section 8 and what’s involved and if this will be a difficulty process or not with any issues It’s a 2 bedroom house about 850 sq ft. 

Thanks!

@Harry Brodsky we just completed a gut rehab. 

- What was the extent of your project? A complete gut from brick to brick top to bottom. 

- How much did you budget in total? $65k

How much did you actually end up spending?  Spent $65k. 

What are some nuances to be aware of when working with Philadelphia contractors? We used a contractor that we have used in the past and didn’t have a nuances. There were some minor structural issues that he made us aware of and he fixed them. 

What unplanned things/issues did you run into during the renovation? Our contractor strongly suggested we get rid of the chimney because it would add some extra space and would make things easier to install. 

What aspect of the process was more difficult than expected?  The layout of  the entire house. Since we did a complete gut we were going back and forth whether to keep the traditional layout with 2 bedrooms and 1 full bath or like what others are doing squeeze 3 bedrooms. We looked at the 3 bedroom homes and they were too tight upstairs. We decided to stay with 2 bedrooms, much more comfortable and spacious. 

What was the biggest mistake you made and what would you recommend to someone in order to keep them from making the same mistake?  No mistakes. The house is a 825 sq ft house living space. Small but a lot more spacious on the 2nd floor than houses with the same sq footage. What most people are doing with the same house is extending to the max on the 1st floor which obviously takes away from the yard. We didn’t do that because we like a bigger yard. Bigger yard is good for cook outs and if you have a dog. If you extend to the max to me the yard is useless. 

We kept our layout traditional and we didn’t do a 3rd floor with 8 ft set back. The house structurally sound, plumbing, electric etc etc is rock solid. Basically a new house. 

@Jared Forman thanks Jared. What would be holding costs associated with the lot?

@Jared Forman the lot is in Philly and it’s RSA-5. I see a lot of lots that have sheds, construction vehicles, pick up trucks etc.

@Sarah Gabriel he wants to live closer to work. He has been living like this for many years. Has a composting toilet, propane heater and refridge. Don’t know what he does about water but there’s a shower.

A co worker of mine approached me about the empty lot we own. He wants to rent the lot from me and put a tiny house on wheels on the lot. He says he can live almost off the grid. A weird and unusual request. Lol

Are there any regulations preventing from doing this crazy request?

@Dylan Price thanks Dylan. If this is going to be a home for my wife and I vs a rental or flip I would love to have at least a parking pad. Grays Ferry is getting more congested and harder to find parking.

@Jared Forman thanks. Are you saying it’s possible to have sort of a set back on ground level for a parking space?

Looking to build on our 14x51 vacant lot. At first we were going to build as an investment rental or a flip. We decided to look into building as our primary residence. We are in our mid 50’s and it would be nice to downsize in 3-5 years. 

My thinking is sort of a loft style / 1 floor living because this would future proof us in our old age, don’t have to climb stairs etc and easy maintenance. Would also be nice to have parking somehow. The lot is located between 2 houses each 2 story. 

I imagine one floor and ground level a space for parking. 

Can something like this be done in regards to the other 2 houses on both sides and the other houses on the street? I’m sure in the 3-5 year range it can be rented out as a 1 bedroom or something. Thanks!