All Forum Posts by: Ryan Fagan

How many square feet is the house?

It happens all the time here in Philly!

@Eric Mass  Welcome to BP.

There are a lot of exciting things happening in Camden. I recently bought a SFR in Lanning Square, and I am in the process of rehabbing it. As far as investing in Camden goes it's very speculative, but if the development plan succeeds there is the potential to make a lot of money from appreciation. Another positive is that you don't need much capital to invest in Camden.

http://www.pha.phila.gov/housing/housing-choice-voucher/landlord-information.aspx

Welcome to BP @Jessica F.!

These are my main areas.  Tacony and Homesburg will probably stay relatively stable while Mayfair is in a decline.  I wouldn't expect any appreciation in any of these areas, and there could even be some depreciation.   You can find good cash flow properties in these areas but if I was looking for appreciation I would look farther northeast (Morrell and Parkwood).

This is just my opinion.

Statistical analysis of crime in cities can be VERY misleading.  In Philadelphia for example you can have a four  block radius of homes that are considered "safe" areas and right down the street would be considered "dangerous."

A "shell" is a broad term.  Most shells have no drywall/plaster.  Some shells have working plumbing, electrical, and hvac while others do not. I've even seen "shells" without stairs to get on the second floor.

I would bring my contractor with me and just ask him what everything would cost.  I'm currently doing a rehab in Camden that we took down to the studs and it should end up costing me about 25k.  That includes new forced heat system, plumbing and electrical.

Personally I like working with shells because you don't have as much demo and you are able to make changes to the property much easier.  This is especially true in Philadelphia because of the age of the homes.

I will keep an eye out.  What is your price range?

@Daniel Alegre welcome to BP.  You always learn a lot on your first deal, and its great you made it through and are looking for your second.  

I'm from Burlington TWP and I always thought Burlington City would be a great place to invest.  It's close to Philly and major highways, and it has a great waterfront.  I think with the right leadership and some investment Burlington City could improve drastically.

Are you looking to buy another property in the city?