All Forum Posts by: Matt Roberts

Thanks @Matt Roberts. I'm actually not sure what neighborhoods yet. I'm at the point where I need to really learn the ins and outs of the process before I figure that out. What do you think? Any recommendations?

I have a rental in fishtown and that worked out really well. Also, check out the podcast. There's so much good info.

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Welcome Kira, Philadelphia is a good market but also somewhat competitive. Do you know what neighborhood you're interested in?

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Wow, he must get a lot of yellow letters. I've never heard of someone getting that angry over junk mail. Sounds like he was having a bad day.

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First I think I would check with pgw to see if you could get gas hooked up. If not I would probably go for the electric furnace. If you're not controlling the thermostat you're going to go broke.

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Originally posted by @Lucas Pfaff:

@Richard Fields Thanks for the explanation. I completely misunderstood your first break down. The second makes perfect sense.

@Michael Olesky Hey Michael, your point about time better spent elsewhere is very true and something I seemingly forgot. Thanks for bringing my attention to it.

Best case scenario? Good question! I purchase with clear title and no violations or liens. My expenses run ~$500 for acquisition with an annual insurance premium of $255 + tax. Holding the property as-is, the area appreciates as the crime diffuses over the next 5-yrs and I sell it for $20-$30,000. Purely speculative based on a perspective similar to what @Matt Roberts alluded to.

It is speculative but I'm sure you could make the property cash flow if you made it liveable and held out for some decent tenants who won't trash the property. I don't know if 5 years is going to change things too much. I would estimate 10+ to see your equity increase significantly. Just my opinion of course.

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Welcome MarcAnthony, im still learning myself but I love this site and I think you'll learn a ton as well.

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Originally posted by @Michael Olesky:

@Lucas Pfaff Along with hidden costs, deferred maintenance and gun wielding squatters, you have a good chance wasting time on this that could be better spent on a better property with more potential.

We've explored some worst case scenarios, what do you see as the best case scenario for this?

I once drove by a property in that neighborhood that was a triplex for 16k. I started looking in windows to see what the condition was like and was immediately grabbed by cop. It took a while to convince him that I was a real estate investor. That's definitely one of the worst neighborhoods I've ever been in but it's so close to fishtown and Kensington that I'd bet if you held onto it for long enough you'd see an amazing return. Take it!!

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All Forum Posts by: Matt Roberts

Matt Roberts has started 21 posts and replied 97 times.

Post: New to this

Post: North Delaware - Advice in good areas to invest and settle in

Post: Concrete guy

Post: Hi from Philadelphia!

Post: Hi from Philadelphia!

Post: How to deal with angry callers

Post: efficient heating options? philadelphia row home. i pay electric!

Post: FREE Property - What's the WORST that could happen?

Post: Newbie from "The Big Cheesesteak!"

Post: FREE Property - What's the WORST that could happen?