Jumpstart Germantown: New initiative to support investment and improve the neighborhood!!!

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I'm involved in an exciting new program in the neighborhood where I live and invest called Jumpstart Germantown! Here's a recent Philadelphia Magazine article about this initiative: http://www.phillymag.com/property/2015/04/20/can-n...

This is a great program for Philly area investors who are interested in the Germantown neighborhood. The initiative was started by a well known commercial investor here, Ken Weinstein of Philly Office Retail, with the idea of helping residential investors do what they do, to improve the housing stock along side the commercial corridor work.

The plan is to remove the barriers of entry for beginning and novice level investors, namely knowledge and capital. To that end, there is a mentorship program with Ken Weinstein, a Developers' Network, and a special line of credit. It is ENTIRELY FREE to get involved!

I completed an informal pilot of the mentoring program, which I found very helpful, and subsequently volunteered to coordinate the Developers' Network. I'm very excited to get started!!! I'm in the process of planning our first meeting now, and would love to see some BP'ers there!

If you're interested or have any questions, please comment here, PM me, or find us online!

My original post was deleted (I was advised to post it instead in this section, and add the disclaimer at the top, my mistake!) Hopefully those who had commented will find their way back here!

There were two very good questions that some BP'ers had asked... They were about about preference for investors who have a connection to Germantown and for female and minority investors. I can only speak for myself and not anyone else, but here are my thoughts:

Some of the things that make Germantown great are its diversity and its very active and engaged community. The idea is to get more investors working in the area who work well with the community, and are genuinely interested in seeing the neighborhood improve. Big bonus if the investors grew up here, live or work here, etc, but I think the most important aspect is the desire to make conscientious and responsible choices in their investments, and a commitment to helping the neighborhood grow. Similarly, working well within the community is best served by having us investors, as a group, reflect the diversity of the community.

This is great for the buy-and-hold investor, as it means that the changes happening through this program are supportive of a healthy revitalization path over time for the area, while maintaining the things about the area that are already working so well. There are fix-and-flip opportunities here also, but I think this requires some knowledge about what's going on here to be strategized properly. This is one of the things the Developer's Network will address. 

Hope this helps clarify! 

Originally posted by @Nancy Larcom :

@Troy S. Thank you! I'm very excited to be involved. And btw, the kind of thing you did with your Brewerytown project would translate well here. Hopefully you'll be able to make it to our first meeting!

 I think so too, I'll definitely try and make it! 

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