All Forum Posts by: Matt N.

I'd push back on the appraisal fee. That seems high or not even required.

Why are you paying for discount points and still getting a rate over 8%? With 20% that is insane.

Find another lender. I have a great contact at a local bank if you want to speak with him. DM me I dont think I can provide info here. 

@Jamar Brown Check out my bio for a little more about me. I am a buy and hold investor in Philadelphia. Let me know if I can help you in any way!

@Rachel Degutz Hi!

Your best bet for traveling to work would be to live in the NE quadrant or South Philadelphia. This will give you the best access to 95N and NJ highways. Morning commutes through Philly city streets can be terrible especially with all of the construction and development going on. So you want to be on the eastern side of the city for sure. 

As far as general safeness, the closer to center city the safer philadelphia is (generally speaking) So if you are in the NE quadrant of the city, Northern Liberties and Fishtown will be 'generally' safer than Kensington or Frankford. This does change as you get into the far north east.

I'd be happy to discuss this more with you. Your goals are important too. If you want a front lawn and a garage, you want to be far north east. If you want city night life, you want to be closer to center city, like fishtown. Also when you say house hack, are you looking to buy a multi? prices will vary in each area. If you are looking to buy a 4bed home and rent rooms to friends, that changes things too. Again. Lets connect and discuss! 

@Chaim Broderick I am an investor / property manager and now an agent for investors. Have you considered hiring an agent? I never liked working with agents but I'm not sure I ever found the right one. 

Definitely start the Eviction Diversion Program now. Don't wait until you need to evict. Get it out of the way. Save yourself 30 days in the future.

As far as the cash-4-keys goes... I've never had to use that agreement in court so not sure how that holds up... I always did it all in one shot. Show up with 4 wads of money, two in your pockets and two in your friend's pockets (different amounts in different pockets). Contract in hand, and a new lockset. If they want the cash, they hand over the keys, pack a bag, and leave. Never did this with an elderly person though, I imagine medical supplies, oxygen, walkers, and other needs could make this tough for someone with needs. My people were always young and brave and took the cash. 

The only two week arrangements I ever made were for them to come back and get their stuff! I was always present for this, and sometimes had to rent the uhaul.  

@Cate M Beaulieu

I am in Germantown everyday showing properties. Let me know if you need any help!

@Casey Valbuena

I love Norristown and handle everything within 2 hours of Philadelphia, in Pennsylvania! Send me a DM because BP wont let us share contact info here.  

@Michael Naples

Please don't listen to any of these people ^^^. Look at their location and ask yourself, What do they know about Philadelphia?

Just closed a duplex in Germantown that is 50% cash on cash. Utilizing the KFLEX loan program and getting some sellers assist money my buyer got in for $7000 out of pocket and the home will cash flow 300/month after factoring in maintenance, vacancy and property management. 

I can show you this deal as proof... and again, ignore the people from cali or out west commenting on Philly real estate posts. 

Check out my profile and if you need or want help just reach out! 

@Casey Valbuena

You are doing all the right things. Nice work. I was an early jumpstart grad and it was the coolest class I ever took. 

One piece of advice, find an agent who is local and knowledgeable about Philadelphia specifically. 

ALSO! - The seller pays the agents, not the buyer, so enlisting an agent is free to you, and will help dramatically as long as they know the city well. (I can help) but don't get sucked in by a big company who hires good looking children to sell homes. Find a good, local, who is also an agent, and who also invests in Philadelphia and they will be extremely valuable. (also me but find anyone like this!)

Best of luck and reach out anytime. 

Matt

@Keith Tarasiewicz There are plenty of deals. I am tied in with every wholesaler in the city and can help you find something that makes sense. 20+ cross my desk every 12 hours and TBH, only 2/20 are good deals at the asking price but that can always be negotiated. Check out my profile and if you like reach out and we can get something going for you. I'm not a wholesaler i just network with all of them. Cheers!