Hello BP Colleagues,
Serious Cash Buyers in the Philadelphia we have uncovered a hidden gem of a deal! As you may or may not know the Spring Arts area (19123) of the city has been in redevelopment over the past five years; luxury housing units are being erected daily! The median home value in this area is 321K plus, plus; an increase of 14% over the past year. Surely developers and private investors alike have knocked on doors and scoured the neighborhood in hopes of monopolizing and capitalizing off of this rise in value. However, there is always one opportunity left undiscovered. Well, we found it!
In a perfect world, we would be finance this project ourselves, as the upside is EXTREMELY positive and profitable. Unfortunately that is not the case, however, good news for you, we've done the homework for you! We've reviewed the deed to verify property restrictions, consulted contractors and a reputable architectural firm (Harmon & Duestch) on the redesign in order to come up with a realistic budget for a high end rehab that will command the highest level of return. We are looking for SERIOUS CASH BUYERS ONLY who understand the market, have a keen sense of rehab costs and who can close by March 3rd. Please see the analysis below. If you interested in receiving more information leave your email address, I will be happy to send you a complete proposal.
Thank you in advance!
a 100k rehab plus remarketing time 90 days does not seem right this to me would look like a 6 to 9 month deal and the holding cost would need to be adjusted accordingly.
Hi @Jay Hinrichs thanks for pointing that out. I actually uploaded the incorrect analysis. You are correct the timeframe comes out to be about 6mos. I changed the time based on the estimate / timeframe we received from contractors. I will repost now.
There ya go... looks like a good one for a local investor that's a big rehab so one would want to be on top of that
@Jay Hinrichs Agreed!
REVISED HOLDING COSTS AND TIMEFRAME TO (6) Months
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