All Forum Posts by: Zachary Paul

Phoenixville is really seeing major development $$$s being funneled into the downtown scene right now. You have Toll Brothers finalizing their apartment project as well as the recent apartments built on Bridge Street. 

There are always "deals" out there, it all depends on what criteria you are looking at for your own investment. 

I do know that my office does have a few 'quiet listings' right now in the Phoenixville market. Let me know if you want me to get more information - best of luck to all!

@Scott Freer - sorry to hear about your luck so far. Unfortunately there are a lot of real estate professionals out there that do not do what they are hired to do - Represent their client in all aspects of a transaction and be a true advocate. 

How are you planning on financing your deals? I do agree for a lot of agents/title companies, etc. they cannot comprehend non-traditional financing other than just your standard 80/20 Conventional Mortgage. 

I'm a Real Estate Agent that works in Philadelphia, Chester, Montgomery, and Delaware counties with several investors. One of the driving factors for me to do this has been my poor experiences with agents in the past buying my own investment and rehab properties. 

I'm not going to say or guarantee that I can do it all and know everything; but I can guarantee that I will give you no BS facts and actually do what I say I will do. If you see any value in that, feel free to reach out. 

Best of luck!

@Nick M. - yes, compared to NYC and other major metropolitan areas, Philadelphia has many more inexpensive properties (condos included). 

The best advice I can give when it comes to investing in condos is to 1) know the financial strength of the Homeowner's Association 2) know exactly what is covered with HOA and how "new" certain things are (roof, boiler, etc). and 3) read all of the Code, Covenants, and Restrictions that may exist in the building (i.e. no renters, no pets, etc).

All in all, investing in condos can be a good thing, especially if you are doing it from afar - as always, you make money with the purchase and fully understanding your numbers. 

@Shenille M. - yes. It is probably the most talked about neighborhood in Philadelphia right now when it comes to flipping/rehabbing and real estate investing overall. 

There are differing opinions on what the current state of the neighborhood is...some say that it is now overpriced and overdeveloped, while others still believe there is upside potential. 

As an investor, I look at markets like Northern Liberties and Fishtown, and think that Point Breeze could easily match those kind of home valuations. Finding a "deal" might be more difficult than 5 years ago...but the risk is much much less. 

Gray's Ferry (neighborhood to the west of Point Breeze) has been getting a lot of spillover interest as a result of Point Breeze's rise. 

@Shenille M. - My office has worked with numerous investors whether it be Multifamily buy/hold or rehab/flip. I am also an investor myself so I understand the importance of reviewing the numbers when making offers.

I work primarily in Philadelphia, Montgomery, Delaware, and Chester counties - let me know if you have any questions or concerns - would be more than glad to help. 

Best of Luck!

@Kelly Maguire - I love spending time in Manayunk; just did an Open House on Umbria last weekend. 

There definitely are good contractors out there and can be reliable when it comes to repairs/rehabs of properties. Let me know what specifically you are looking for and if I don't have a contact, I can ask around in my network. 

As you know, Manayunk is undergoing a lot of new apartment construction with prices for a 1 bed unit asking around $1500+. Hoping that all of the new complexes will breathe more activity for Main Street and surrounding businesses. 

If you have any questions or if I can be of help, feel free to reach out.

Best of Luck!

@Abdul King - I'm a real estate agent that covers the greater Philadelphia region. 

Are you looking to hone in on one section of Philadelphia when it comes to your potential flip/rehab projects? As you know, the city varies greatly from neighborhood to neighborhood. 

Feel free to reach out if I can be of any assistance. 

Best of Luck!

@Frank Callahan - congrats on taking the next steps to starting your real estate investing business. 

I am a real estate agent who started out as an investor covering Philadelphia, Montco, Delco, and Chester counties. 

If you have any questions about being a real estate agent or investing in the area, feel free to reach out.

Best of luck!

A lot of good things happening in the greater Philadelphia region - not just real estate related (i.e. hosting DNC, had Pope visit, etc). 

Some neighborhoods of interest to investors:

Point Breeze (South Philly) - a lot of new development as well as a lot of flip/rehab projects to older townhouse inventory. Average rent for 3 bed/1 bath are anywhere from $950 - $1300. 

Brewerytown - with Fairmount to the south, Brewerytown is seeing a lot of activity and benefits from its proximity to Temple University as well. 

Manayunk - outside of downtown Philadelphia, however, there are 3 major apartment complexes coming online in late 2016/early 2017 that is going to hopefully shift the neighborhood and increase the Main Street population. Very popular with recent college grads and now families. 

@Kim Tonetti - property sounds nice. My recommendation would be to have a Realtor list the property for lease on the MLS assuming you are OK having it leased for 12 months (standard).

The typical commission I have seen is 1 month's rent to be split between the listing agent and (if there is one) the tenant's agent. 

Feel free to reach out if you have any questions or concerns; I am a Real Estate agent that covers Philadelphia, Montgomery, Delaware, and Chester counties. 

Best of luck!