All Forum Posts by: Victoria Pham

Ramon, I understand your concerns but we can never truly time the market. From my personal insight as a consultant, I see the Philly real estate market is booming. Investors are hungry for good deals and they don't have many problems investing now. As long as the numbers make sense, I'd recommend you take the chance. But again, only you know what you want, so best of luck and let me know how I can help

Hi Alex, welcome! what research have you done for your BRRRR strategy? Did you know which areas you're interested in and your budget? They're the most two important things among other small things when considering a deal. Best of luck and let me know how I can help

Hey investors, I've been in the forum a while and realize that there are a lot of questions about finding a contractor. I always give them advice to post on craigslist and you'll be surprised how many phone calls from contractors to you! Best of luck

If it's a full gut rehab, you probably need a big team. If it's your first investment property, to be honest, you should not take a full gut rehab deal. The first reason is if you buy with cash, all is good, but if you buy it with hard money loan, it'll be extremely difficult to find a lender or if you actually found someone, the rate and process would be difficult as well. For a full gut rehab, it'll take time and the holding cost is another problem. Secondly, you need a really really good contractor to evaluate the costs or else, it'll screw up your thousands of dollars because of overestimation. You can probably buy these properties cheap because it needs a lot of work, but if you consider 2 elements I listed above, it'll consume a lot of your time and money. Again, I'm not you and I don't know what resources you're having now so my perspective could be subjective. Just a thought but I wish you a best of luck! The first one no matter full gut or light cosmetic rehab, it'll be new and a bit difficult for you but you're getting there!

Nothing is certain because there are also a lot of external factors affecting an ARV of a property but there's a rule of thumb you can follow. Could you manage to find pictures of the comp properties? Look at those comps (make sure you pull out very good comps for your property), see the pictures of the interior and reflect to your own property to see what needs to be done to look close to those comps. Best of luck!

Did you post an ad on Craigslist? I'm sure if you post an ad there, you'll be on phone all day with calls from contractors. I tried it before and it worked! Best of luck!

Hi Henry, I'm a real estate consultant from Philly. To answer your question, I want to know more about your investment strategy. Are you looking for a flip/rental? and also you think it for yourself but you also want to know your budget for your next project as well (purchase price, rehab costs...). If I know a bit more about those things, I can definitely give you a better answer than this. Let me know how I can help

Hi Ben, welcome to BP community! I appreciate your post and sharing with us your difficulties and aspiration. You'll get there. I'm a real estate consultant from Philly, so I cannot talk much about other areas you are interested in, but I can tell that Philly real estate market in general and rental market in particular is hot. What part of town are you looking to invest in? There are a lot of blue collars in Philly and you'll find people to rent easily. New constructions are built everywhere. The city is transforming very fast! I don't know how often you visit your hometown but you can see how differences the city has changed. I've been working in real estate for a while. Just 2 years ago, there are places in West Philly and areas like Brewery town that no one would be interested in, but over the past 2 weeks, I sold several deals in those areas within an hour. That's how hot the market is and how hungry investors are for places in Philly. 

I understand you want to do BRRRR. But did you give a thought for a more detailed strategy such as the purchasing price you want, the rehab budget and your ideal cashflow? It seems you have a lot of interests, which is good! But if you're looking to do the first deal, my personal advice would be to look at a specific area and be good at that. Sorry I've been talking a lot. Let me know how I can help!

Congrats Michael, the price and photos look good! Just one thing, as a real estate consultant who has moved a lot of properties, I never use Zillow.com or Realtor.com. They're not accurate most of the time. If you don't have the licence and cannot access to MLS, maybe you can use your network and see if someone is an agent who can help you pull out stats from MLS? That'll be much better. But again, congrats and hope it gives you great cashflow

Paris, just want to hop on and say thank you for your service! As a real estate consultant who moves a lot of properties each month in Philly market, I'm confident telling you that Philly real estate market is hot now! New constructions are everywhere and the city is transforming. With that being said, you only need to be strategic about what you want and you'll find the right deal for you. Let me know how I can help