All Forum Posts by: Nicky Lisewski

Would be happy to talk, Hampus.  We househacked a triplex in the Graduate Hospital area and have a duplex in South Philly.  

Thanks for your service, Hong. I'm an investor as well as a real estate agent. The VA loan program is great. You are going to need to look for properties that are livable - so not anything totally gutted - unless you get a VA rehab loan.

As far as neighborhoods, is this going to be your home for a while or are you going to live there for a year and rent out the property?  Some neighborhoods that are primed for appreciation are Kensington, Germantown, parts of South Philly.  But it also depends on what you want.  If you want lawns and parking, I'd suggest the Northeast or Northwest.  

I think the most important thing is to look at a lot of properties and run your numbers.  You want to feel confident so that when you do see a good deal, you can act.

@Nicholas D'Andrea

I purchased a triplex in Graduate Hospital back in 2012.  That house hack started my real estate career and is still one of the best investments that I ever made.  The calculators here are great.   Remember to run them with yourself living there and eventually as a pure investment. 

Otherwise, I'd echo @Kevin Moyer.  Look for areas that are up and coming.  Before I bought, I must have looked at and done the numbers for 50 plus properties.  That's the only way to be confident in your ability to find a deal.

Also make sure you are pre-approved and look into various loan programs. For example, FHA 203k rehab loans involve a lot of hoops, but they've added real value for many buyers.

Where does your cousin invest?  Have you seen his properties?  

I'm an investor and I'm also a real estate agent.  I work with investors, some from out-of-state.  The first thing I do for new clients is take them on a tour of of some properties in neighborhoods they are interested in.  There is really no substitute for boots on the ground.  Only you can decide what you are comfortable with.  

PS:  Take a look at Jumpstart Kensington

https://www.jumpstartkensington.org/



https://www.jumpstartkensington.org/

@Laura Dantel I'm an agent, and I get your point about the popular neighborhoods.  However, there are always properties that sit.  Often they are priced wrong to start.  I just did a quick search in Brewerytown and Point Breeze, and there are properties that are sitting even with price reductions.  Instead of competing with the cash buyers, I'd suggest looking at those properties that are sitting and see if there might be a diamond in the rough.  

The last property I bought for myself (in South Philly) was hard to get into, had only outside pictures, and had a hoarder tenant.  It was a deal in part because I didn't have much competition.  

My first real estate investment was a house hack, that I bought with an FHA loan, and it worked out really well! I bought it with a realtor from the MLS. I just looked on the MLS and there are multiple properties that are open to FHA 203(b) financing. Are you looking at on market deals?

@Ariel Castillo

Here are links to two of the big reia groups in the Philadelphia area.

http://delcopropertyinvestors....

https://www.digonline.org/

DPI is starting a remodeling subgroup.  The first meeting is January 21st in Essington.  I've already gotten so much great information from the DPI members as we rehab our quad. I'll post more about the subgroup in the new year.

I'm a big fan of Delco in general - Eddystone, Lansdowne, Ridley Park, Chester near Widener U.  However, I see cash flow, not appreciation in these areas.  

As for Philly, take a look near Temple U Hospital.  

I'm a real estate agent in Philadelphia. 

I myself have investments in Philly and Delaware County.

 There is a lot of investment moving into Kensington and Germantown (take a look at Jumpstart Germantown and Jumpstart Kensington). 

There are lots of opportunity in the Philadelphia area, but it depends on what you are looking for. For example, I've seen some successful flips in Port Richmond - properties that were bought in the low 100s and sold for high 200s to low 300s. I've also seen some nice flips in Bucks County, but the price to get in is higher as well as the potential for profit. 

As far as buy and hold, the best cap rates are in the up and coming neighborhoods. Are you comfortable with Section 8? Are you going to do your own property management? 

I highly recommend the real estate investor organizations - DIG and DPI. They have some great education programs and you can see what other people are doing and figure out your comfort zone.

Welcome to Bigger Pockets.  Since you are in the area, I'd suggest going to the local real estate investor meetings, Diversified Investors Group (DIG) and Delco Property Investors (for Delaware County).  We've made great connections and gotten really valuable information at both groups.  What areas are you looking at?