All Forum Posts by: Pierre Streat

Hello All,

As many of you know I am pretty focused on the Philadelphia multi family market at the moment for buy and hold cash flow. As a result, I would like to explore the Section 8 markets in Philadelphia. Are there any investors on BP currently focused on Section 8 multi family rentals in Philly? If so, what areas and what has your experience been like with these units? Is it easy to find great property managers willing to manage these units for you? Any tips, horror stories etc. are greatly appreciated. Please educate me.

Thank you,

Pierre

 Thanks for the reply Mike. Where did you buy your first multi in Philly and why that area? Did it require a lot of renovation and how did you go about finding a good contractor down there? I am currently considering student housing in Philly due to what seems like consistent cash flow and some price appreciation as the Universities continue to build out. What are your thoughts on student housing down there?

 No problem Bruce! Hope we can both gain some valuable insight on Philly multi fam's here. Bigger Pockets community we appreciate your help!

 Thanks for your reply Ugochukwu. Question though, why do single families tend to hold their value or appreciate more in Philly? What don't multi families perform as well or better? Please educate me.  

Hello BP Family,

Does anyone have any experience with turn key property companies in Philadelphia? If so, who are the best out there? Would anyone recommend this route for an out of state investor such as myself? Or would it be more advantageous/cost effective to go the tradtional route of finding a turn key property via a real estate agent and then setting a team in place thereafter - property manager, handyman etc.? I am a newbie investor looking to invest in high cash flow multi families in Philadelphia in the hopes of also getting price appreciation and the ability to add value somehow. Any advice on the best way to approach this goal or anyone currently on the ground there already achieving this would be greatly appreciated.

Thanks,

Pierre

@Mathew Gunkel - Agreed on 203k loan being a great opportunity but correct me if I am wrong, this program does require that the owner live in 1 of the 4~ units correct? If so, for how long is that owner-occupancy requried? How likely is it that the FHA authorities check to see if it is in fact owner occupied? Wondering if this could be an option for an out of state investor such as myself buying in Philadelphia.

@James Masotti - Would love to hear more about your investing in Delaware. Are you buying multi-families there? What are the price ranges like for 1-4 units and subsequent rent rolls? What is the general economy like in Delaware in order to gauge tenant profiles? GDP, household income, unemployment rates etc?

Hello BP Family,

Can any multi family cash flow investors in the Philadelphia, PA market suggest some great investor friendly real estate agents in the area? Or people who have connections to great off market opportunities? I am an out of state investor looking for an agent/broker who is very familiar with Philadelphia and hopefully owns and manages some multi family cash flow properties themselves in the area. I don't know much about Philadelphia so would love if someone can guide me to areas that have great cash flow as well as potential price appreciation in the future. I have heard Philadelphia has a solid student rental market but would like to keep away from that since these properties don't tend to appreciate much and kids can really put a strain on the properties. It would also be great if this agent/broker has excellent, quality property management connections since this a long distance purchase. I am also open to partnering on potential deals with this broker/agent if there is a fit. I appreciate your help!

Thanks.

Hello BP!

Can any multi family cash flow investors in Atlanta, Georgia suggest some great investor friendly real estate agents in the area? I am an out of state investor looking for an agent/broker who knows Atlanta and its surrounding areas very well and hopefully owns and manages some multi family cash flow properties themselves in the area. I know nothing about Atlanta so will need a bit of hand holding in the early stages and lots of education. It would also be great if this agent/broker has excellent, quality property management connections since this a very long distance purchase. I am also open to partnering on potential deals with this broker/agent if there is a fit. I appreciate your help BP.

Thanks.

Hi BP Family,

Hope you are all well. Does anyone know of any local banks in Baltimore City or banks across the country for that matter that would lend to a brand new LLC buying cashing flow multi families in Baltimore City? Thanks!

Thank you Ronald but how would your second option work? How would I partner with someone on a large deal without taking the 20% hit once I withdraw the cash from my 401k? What kind of partnership structure would allow this?