All Forum Posts by: Ethan Giller

Still looking to sell, flexible on the price and terms.  Contact me if interested.

Eli, if you are looking to invest in Philadelphia and you live out of the area, I think the smart money is on finding a local investor to partner with.  Or ask questions on this forum about specific properties/deals.  As I'm sure you know, in the better neighborhoods you should expect lower cap rates but better tenants and potentially more appreciation... in the lower income neighborhoods, the reverse.  Very general rule of thumb for this market is to shoot for 1% monthly gross return in 'A' areas, for 1%-1.5% in 'B' areas, for 1.5%-2% in 'C' areas, and for 2%+ return in 'D' areas.

This is an assignment deal perfect for the handy investor, needs rehab but is in decent condition.  Check out comps and the pictures.  We estimate approximately $50,000 worth of work is needed.  It's a great property just outside of our target area, but we got a good deal on it and can pass along the savings.

Will rent for $2,200+ per month, HUGE lot, beautiful historic house, great block, and two car garage!  DISCOUNT AVAILABLE FOR BIGGER POCKETS MEMBERS!

See our post on Craigslist for pictures.

http://philadelphia.craigslist.org/reo/4834708592.html

Keywords: REO, creative financing, seller financing, cash deal, investment property, Philadelphia, Philly, Norristown

What do your numbers look like on your property in London? What is the market value currently,  and how much do you rent it for? Philadelphia is a great city for cash flow, and has a lot of multifamily inventory for house hacking options. Unless you are planning to move back to London, you might want to seriously consider selling that property and investing the money locally for a better return. 

It's just the name of a local investor-friendly title company.  You'll have to contact them to see what they are able to do. http://assuranceabstract.com/

Request that the technician calls you when he's on his way, and put the property on a lockbox.  Sometimes the phone operators will take the lockbox code from you when you schedule the appointment, sometimes they will tell you that you have to have someone meet the technician.  Regardless, when the technician calls you, just give him the lockbox code and he will usually go in anyway despite what they told you over the phone.

You should be able to have a contractor there anyway, working off a generator if necessary.  The contractor can let in the technician.

It will be much easier for you if you just have an agreement of sale to buy the property (such that the deed transfers to your name), with your friend holding the balance of the mortgage note, which is recorded as a lien against the property.  The title company you use at closing will know what to do to probate the will prior to closing, so that you don't run into issues with getting a clear title.  This way the agent gets paid too.

In my opinion, if you try to do a lease purchase option in this type of situation and you and/or the seller is not experienced, you are more likely to run into issues with the title, estate taxes, the agent, etc. I'm assuming that you are keeping this property as a rental. If you're trying to flip it, you should consider just setting up a JV with your friend. Either way, don't put any money into it until you are sure the title is marketable.

If you find a good deal in Philadelphia, a true off-market and under market property, send it to me.  Now you have at least one cash buyer on your list!

It will be a hard part of the city to invest in if you are out of state and do not have a large portfolio.

It just sounds like the owner is not very motivated.