All Forum Posts by: Paulette Midgette

@Desmond Ellis, there are free in person seminars and an online seminar on the Sheriff's website that will answer your questions.

Hello @Account Closed

Thanks for the connection!  I am not currently pursuing anything in the Finger Lakes but I would be happy to give you a 101 on all things Philly.  Please feel free to inbox me.

@Andrew Reyes, have your potential partners explained to you or have you researched yourself the short-term Airbnb regulations in Philadelphia?  If not do you homework and include in your figures, the tax and fee assessments.  Also, there are certain residential neighborhoods where short-term rentals are not allowed.  Is the property you are considering one of them?

I will say this again, do your homework.  It is great to ask the advice of folks here but nothing substitutes for getting the information yourself.  Especially, if you are doing business in a city you don't live in or is not familiar with.

Kenneth C.,  You will need a business license ( free of charge) before you can obtain a rental license.  Once you settle on the property you should take the paperwork to City Hall and file for the paper license.  The City understands there can be a lapse in time between obtaining a property and filing the paper work so they will give you an inch.  Just be sure you don't try and take a mile.

Also,  I am not sure where @Yuriy Skripnichenko is getting his information about inspections.  But the inspections are on a rotating system, most properties come up for inspection every 3 to 4 years, some sooner.  I have gone through a number of inspections, and it was not because I was reported to L&I.  I have a relative who works for L&I, where my source of information comes from as well as experience.

Hi @Lana Lee, I have no idea why you did not get the "Refuse Collection Fee" for your other duplex. My thoughts are it was missed some how in the system. Was the duplex always a duplex or was it converted from a SFH?

@Max H., a few points to consider.  One, Philadelphia is one of the original 13 colonies.  We have building here the original Quakers built, Besty Ross's house is still standing, and thousands of people walk through Independence Hall (where the Declaration of Independence was created and the Constitution of America debated).  

Two, the homes built in the last Philadelphia housing construction boom (prior to this one) was in the 1940s.  These were neighborhoods such as Mt. Airy, Burholme, Overbrook, etc.  

Three, the advantage of purchasing in Philadelphia is while the housing stock might be old the bones are solid.  The home in Philly are brick and/or stone, plaster walls and hardwoods under all that carpet.  You can take a row home in Philly tear out the insides and rebuild new innards.  I am willing to bet that home we last another 100 years.

Four, Do an internet search on the Philadelphia Row Home manuel.  I think you will find this a available resource as you research Philadelphia area homes.

Hello @William George,  Both neighborhoods you have mentioned have always been working glass stable neighborhoods.  With that said there are a few blocks in each of these areas that were a little rough. 

With respect to Mt. Airy there is an East and a West.  The two are not only separated by a street boundary but by income level.  I won't go into a lot of detail here but there are some statistics about this are (population, voting participation, income levels, and homeownership, travel time to Center City, and employment opportunities in the surrounding suburbs) you should consider. 

Tacony is an historic neighborhood 8 miles outside of Center City with the Delaware River as one of it's boarders.  I don't know if New Yorkers are buying in but there are two things I know for sure.  New Yorkers are coming in on buses, previewing Philadelphia real estate, so what this person told you may be true.  Secondly, a significant number of Russians are buying and moving into this area.  The Northeast historically has a large population of immigrants.  It is one of the most diverse areas in this City.

From your post, I assume (and forgive me if I am incorrect) that you may be new to the City.  I would be happy to share as much as I know about the neighborhoods you are researching.  Also, I have previously posted a lot of information about Philadelphia and its neighborhoods.  I am sure a quick search of my name will bring them up.

If you decide to pass on one or both of these deals I would appreciate it if you would consider passing one or both on to me.

@David Weintraub, Philadelphia is having a serious problem with school performance throughout the City.  I think we can point out a "bad school" in any given neighborhood based on our perceptions.  Where you preferring to a particular school in Mt. Airy and why do you consider it or them bad?

For all Philadelphia investors who understand putting a bath under the stair is not feasible, this may be a silly question.  @Mauricio Botero, are you planning to finish the basement?  If yes, why not put it there?  Philadelphians are accustomed to one bath homes.  It is really nice to have a half bath and will had some value but it is not necessary to have it on the first floor.  May I ask why you are considering adding a half bath on the first floor?  Does your research show that 1st floor half baths are in demand, they add considerable value to homes in the area?

Hi @Adam Guiffrida, I am an investor from Philadelphia.  However, because of the real estate investor boom in Philly I am looking at areas in NEPA.  Can you tell me a little more about Scranton.  Is it a town going through a revitalization or pretty much status quo?  What of the best neighborhoods/zip codes to invest in.  Is it a town if you are looking for good cash flow, appreciation, or both?  You noted that the fees and taxes are high?  What is high (what are the numbers)?  Who are the major employers in the area?

Thanks in advance for your answers.

@Mike Dinh, I am sorry happy that this worked out and you didn't have to change locks or throw crickets through any front doors!