All Forum Posts by: Jessica Roberts

Thanks @Devan Mcclish as this has helped me greatly figure out my asking price!  @Jamal Pitts I will be contacting you and @Nancy Larcom I am not planning on doing to rehab myself but its a property my contractor birdogged to me.  That's his estimate but I honestly doubt that he'll be able to come in that low so I'd say it could possibly cost anywhere from 65k to about 90k being that it needs everything and he hasn't even seen the roof yet.

J

Hello Everyone,

I am currently looking at putting a property under contract that can be converted into an apartment building. The thing is I don't know how I'd go about finding a buyer for it once it is under contract because of the work needed as well as its size. It's a 3,000 sqft building in the Overbrook section of West Philly, PA and the adjacent property is a 9 unit multi. The property would need to be completely rehabed and converted as well as zoned for such OR just made into a rooming house. The seller is asking 90k but I'm trying to get him down to about 75k. Buildings this size that are rent ready hold a value of about 250k to 350k. My contractor says he can rehab it for about 50k? Any suggestions on how to move it once it's under contract/is this a good deal. I can advertise it at my local REIA's but any other tips?

Thanks,

J

Ok, is she acting as a property manager for the landlord? This is an area in which I want to expand into and my background is in property management but I'm not licensed and I think you have to be a broker in most instances. So I'm just trying to figure out how to get around that aspect of it. I suppose she just set up an agreement with him that specified the services she's offers him? Thanks for your help btw!

And Thanks for the Welcome Brandon!

Hi Brandi!

Be sure to check out meetup groups in the Philadelphia area geared towards REI. I'm attending one this Thursday hosted by W.H.I.P. (Wholesaling Houses In Philly) at the North American Motor Inn on City Ave. Just go to meetup.com and get more details!

Good Stuff Paul!

Can you elaborate on the student housing piece?

Hey Precious!

Same to you as well! Also consider attending some of the REI Meetups and clubs in Philly. There is one this Thursday for W.H.I.P. (Wholesaling Houses In Philly) and it starts I believe at 6:30pm located at the North American Motor Inn on City Ave. Just go to meetup.com and look for W.H.I.P. Hope to see you there!

Hey Anthony!

I'd say niche neighborhoods like Mt. Airy, Melrose Park, Elkins Park, West and East Oak Lane are pretty interesting. I'm currently trying to wholesale this deal on a property located near Temple University's Medical Campus (not main campus) and there are challenges as this area hasn't quite turned around yet. but the neighborhoods I mentioned are good places to start. Also East Mt. Airy and Chestnut Hill are pretty good as well.

Hello BP Community!

My name is Jessica Roberts and that's right I'm a newbie to the world of real estate investing. Over the course of this month I have been learning everything it is I can about investing in real estate and guess what I'm still just as eager to learn and do as I was when I decided to embark upon this journey! Can't wait to meet some new people, network, and yep..that's right...Make Some Deals! So Happy Investing Everyone and I look forward to learning and working with you all!

Ciao,

Jessica Roberts

JPS Realty Unlimited