All Forum Posts by: Pierre Streat

Hello fellow BP'ers,

Hope you are all well and are having a great week so far. Are there any experienced investors out there who have successfully executed the BRRR (Buy, Rehab, Refi, Rent) strategy on Multi and/or Single family properties in the North Newark and/or Central Downtown areas? I was told these areas offer high cash flow and the ability to execute this strategy successfully. How much are distressed multi and single families going for in these areas? What are the after repair values like? Is it true that rent control is a big hindrance to returns in North Newark? I would also be interested in hearing from anyone who has successfully flipped in these areas, there experiences, advice etc. I appreciate this in advance and hope to hear from you soon!

Thank you,

Pierre

Hello BP Family,

Hope you are all well. Are there any investors out there who perform the BRRR (buy, rehab, refi, rent) strategy on single or multi families in the Darby or Norristown, PA areas? If so, what are the demographics like in these outer areas just outside Philly? Where do most people work? Are there decent/high enough ARV/comps to successfully execute a BRRR? What are rents like on a 3bed/1bath? Asking prices on distressed single families are well under $50k so was just wondering if these could potentially be solid areas to generate high cash flow. I appreciate your advice.

Thank you

 Hi Michael,

Yes I have been focusing on Brewerytown mostly but also have been looking at Fishtown and Frankford areas. Unfortunately I haven't been able to find a multi family rehab deal as of yet so have begun expanding my search slightly outside of the City. When is the next networking event that you know of in Philly? Would love to connect with more investors with a similar BRRR strategy in the area. Thanks

Hello BP Family,

Hope you are all well and had a great weekend. Investor here from NYC finding it very difficult to source multi family rehab deals in Philadelphia. My goal is to purchase a duplex or triplex with cash, rehab it, refinance out, rent for buy & hold and repeat this process every year or multiple times per year if possible. Philly is known for their typical 3 bed 1 bath single family homes but I am still determined to find a duplex or triplex. Are there any experienced investors, developers, property managers etc out there that could potentially point me in the right direction please? I am also open to the surrounding areas of Philadelphia and would be willing to partner with someone if the relationship is beneficial for both. Looking forward to hearing from you all and I appreciate the help. Thanks!

Barry, PM me your email address and I will refer you to a great property manager in Philly.

 Hi Sean, thanks for your input. No I pulled out of the deal and are now waiting for my earnest deposit back. I am currently exploring rehab opportunities in Brewerytown.

 Thank you for the advice Larry. Much appreciated.

Has anyone had any experience with the company TurnKey Philly? Good, Bad experience? Any general thoughts/advice on leveraging these type of companies? Are these high cash flow returns they promise really true? Are the areas they rehab truly not in war zones and have solid potential for future appreciation? I am also concerned that when I want to refinance, these properties will not appraise for higher than all-in costs.   https://turnkeyphilly.com/home

I appreciate your thoughts. Thanks

Is there rehab work quality?

Hi BP,

Has anyone had any experience with the company Turn Key Philly? Good, Bad experience? Any general thoughts/advice on leveraging these type of companies? Are these high cash flow returns they promise really true? Are the areas they rehab truly not in war zones and have solid potential for future appreciation? https://turnkeyphilly.com/home

I appreciate your thoughts. Thanks