Does anyone have experience with new construction in Philadelphia building on Vacant Lots? 

I have an investor that just moved forward with a new construction duplex that happened to be fully rented when he bought it .Best of luck to you and connect if you would like to talk more. 

The were clearly mansions at time of construct, and now converted small multi's all sec8. 

In the area, we determined that the it would be a good mid term rental and started marketing it as a furnished rental especially with some of the construction and events going on throughout the year.

I do not appreciate basically being “fired” by my property manager because she was unable to handle firm and constructive feedback regarding the lack of HER communication and multiple mistakes by this company.

It’s especially advantageous that your construction costs are lower due to being a builder, which really boosts the overall profitability of the project.The numbers look strong, especially with a refinance at 5.9% the $24k net after expenses and $12k yearly pay down show a solid return, even with conservative estimates.

There are more construction loans available, then loans to purchase the land. 

Hi Tobi, Do you have any previous ground-up construction experience?

We have a builder in Charlotte that constructs multi family and the numbers are pretty good.

Someone with a construction background can contribute their expertise and build at cost without markups or profit margin.