All Forum Posts by: Ruben S Paul

@Paul S. Thanks

Does anyone know what the average cost of a full demolition done by the city of Philadelphia cost ?? That’s factoring in slight damage to two neighboring properties. I just got a payoff back from the city for a vacant lot that I would like to wholesale. The city just hit me with a whopping 60k in liens from work done by the city (demo) along with other charges . Not to mention the owners owe a water bill and several code violation fees . The owners claimed they didn’t know . Does this sound normal to you ?

@Scott M. Great advice , thanks .

Good evening,

I do some wholesaling in philly area , I came across a huge lot near temple that I have been In serious talks for a contract . The owner wants to walk away with 20k without paying any liens/judgments. The Problem is they don’t even know what they owe so I’m doing some minor title work just to make sure it’s even worth my time . I was able to find three municipal liens on property. One was thrown out without prejudice. The second one I requested a payoff through the city and was able to reduce the amount owed for a possible settlement . I also requested a water bill payoff from Phila and I haven’t got it back yet . Does the city ever reduce the amount owed on water for settlement purposes? Or does any type of negotiation at all? Thanks

Good afternoon,

Is it possible to hire a property management company to handle cosmetic or major rehab to a property? There’s a property that’s I am interested in as a rental but I would like to be as hands off as possible . If not are they any other options ?

@Ian Walsh I had an rental opportunity that presented itself in hunting park area. I passed on it but do you think that area could generate good income?

@Jimmy O'Connor I would be would be willing to put work in the duplex . I know that buying a fixer up may be my best option. I’m ok with that , as long as it’s in ideal area

@Jimmy O'Connor when it comes to pure rentals I don’t mind where it is as long as it’s not in a super rough area. For something I would live in , it would have to be in far northeast philly , fox chase, my airy, wynnefield. In the areas I’m interested in living in I would see many duplexes over 320k and they weren’t even updated at all . Do you see the prices reducing at all or do you think this is the new norm?

@Elise Bickel Im ready to invest in Pittsburgh and have been specifically looking in Carrick. I also live in Philadelphia and need a property manager

Hello BP,

Newbie investor here. I want to invest in Philadelphia most likely a rental property. I’d also be willing to house hack , live in a duplex and rent other side out . Unfortunately I’ve ran into a huge roadblock. Philadelphia use to be somewhat cheap(affordable) but now it seems that a good rowhome in decent area won’t be less than 180-190k some of which aren’t in best condition. Further more duplexes are averaging about 265k and up . Some of the duplexes are extremely old and falling apart and in bad neighborhoods. This wasn’t the case about 6 months ago, what in the world is happening!?? Is this the new normal? Do you expect to see philly priced out in few years ??

Thanks for the responses.