All Forum Posts by: Anthony G.

Hello BP

I'm looking to invest in a vacant rundown multi-family in Philadelphia all cash I'm looking to get in at around 6x the yearly rent roll after all repairs. I've been told point breeze is a good place to find the type of property I'm looking for as it is an area that is seeing some gentrification but hasn't reached its full potential. I would like to here some opinions on the area and maybe some alternatives as I am priced out NYC and am very intrigued by Philly. If the numbers make sense I'm willing to buy in area that is not currently desirable but has potential such as ample transportation and within close proximity to major city projects and upgrades and is in proximity to a trendy area. I would hear everyone's two cents.

Thank You

Anthony

Hey Jessica

Congrats on join bp, I just started posting myself what areas of Philly interest you ?. I'm in Nyc and I'm trying to get a feel for the market over there

I took a look on google maps seems interesting .... I'm going to make it a point to drive through there when I'm in philly next month is their anything in that area you suggest is a must see?

Hey Lisa, Thanks for responding to my post. I appreciate the heads up. I'm going to start looking around in that area is there any other information you can tell me about the area such as is there good public transportation what is the average home selling for and what does rent go for? Btw good luck with your home purchase please keep me updated with what you see out there

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Hey Bill, thanks for responding to my post Im all to familiar with transfer tax we have all sorts of tax here in NY. Im surprised we don't get taxed for them collecting tax! ... Yes definitely go Cards!

Hello Bigger pockets community. I am from NYC, I would like to invest all cash in 2-4 unit apt. buildings in Philadelphia that need work and then cash out refinance. I would like to pay no more than 6-8x the rent roll after all repairs. I would love to do this here in NY but Im priced out of the market. Statistics show average home price ranges from 150-200k in Philadelphia. Though Ive been through the process of buying a home, this is my first time doing a project like this. I would need to learn a lot more about Philly and PA state laws and put together a solid team there. I know I'm going to have to put my boots on the ground to get more knowledge about the market but would love to hear any suggestions to help me cut my learning curve, and to hear some thought on how realistic my expectations are, and what would you do to start gathering information before I start spending my weekends in Philadelphia. Any comments or suggestions are appreciated. Hope to talk to you soon!

Thank You

Anthony Giaconia