First (Multi-unit) Purchase in Philly

11 Replies

Greeting BP members.

I'm new to the community and Love the enthusiam and comraderie here! We're moving from NYC to Philly within the next 9-10 months and are seeking recommendations on diligent, honest, and hard-working brokers that are also apartment investors themselves. I've been proactively reaching out to people who portray themselves as such on-line, but have been severely disappointed in their lack of response (and I'm talking More than one call with VM each!). I know the market is hot, but really?! That said, could some of you with firsthand experience purchasing multi-unit residential property Please recommend solid brokers/companies for me to contact?

Thank you in advance!

Joe G. from NYC

OK Joe,  I can help you.  Tell me what you are looking to buy in Phillidelphia, how much you have to spend and when you will be buying.  I'll tell you why the brokers don't take you seriously enough to answer your calls.  deal?

Originally posted by @Dawn Vacek :

OK Joe,  I can help you.  Tell me what you are looking to buy in Phillidelphia, how much you have to spend and when you will be buying.  I'll tell you why the brokers don't take you seriously enough to answer your calls.  deal?

 Thanks, Dawn. 3-4 unit owner-occupied residential, $5-800k within next 12 months.

I guess I need to ask more questions.  How much is a 3-4 family, owner occupied (although I don't really understand this criteria) in this market?  Is $5-8000 enought to be a real buyer?

5-800k = $500,000 to $800,000. Right now I'm looking to first connect with responsive, knowledgeable brokers/owners in Philly...know any?

If you have the money to be a real buyer call a CCIM.  You can look up the agents for the philly area online.  What you want is pretty small but all ccim's invest and will be able to send you to the right agent in that area.  

Originally posted by @Dawn Vacek :

If you have the money to be a real buyer call a CCIM.  You can look up the agents for the philly area online.  What you want is pretty small but all ccim's invest and will be able to send you to the right agent in that area.  

 Great advice. Thank you, Dawn :-)

what's ccim ?

Originally posted by @Eli M. :

what's ccim ?

 A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry. The designation process ensures that CCIMs are proficient not only in theory, but also in practice. This elite corps of CCIMs includes brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers, and other allied professionals.

- http://www.realtor.org/designations-and-certifications/ccim

Originally posted by @Tyler Bedle :
Originally posted by @Eli M.:

what's ccim ?

 A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry. The designation process ensures that CCIMs are proficient not only in theory, but also in practice. This elite corps of CCIMs includes brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers, and other allied professionals.

- http://www.realtor.org/designations-and-certifications/ccim

 Thank you, Tyler. Much appreciated.

thank you, if you happen to know one or found one, please give me their info.thank you in advance. 

Eli - Will do. A quick LinkedIn search yielded quite a few (153). Now it's time to whittle the list down and start contacting them. I will let you know who is responsive.

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