Hello Fellow Investors
I recently come across this opportunity from National Reality, where they connect investors, constructors, lawyer and bankers together to find and built new construction over cheap properties (no or very low property tax). In this case, their projects are concentrated in central Philadelphia (Northern Liberties). They offer bunch of guarantees including the positive cash flow over course of 5 years, in which there will also be professional property managers for the property. I do not think this opportunities is impossible, however, as I am quite new to real estate investment and not familiar with northern Liberties. Thus I am seeking advice from the community.
I guess my question really boil down to the 2 points below:
1. Has anyone hear about or has experience with National Reality project?
2. Is Northern Liberties a good place to invest?
Any insights would be much appreciated.
Northern Liberties is one of the hottest markets in Philadelphia. If you visited the area you would see that the New Construction Starts are happening at every corner and street. The area has been getting quite expensive as of late (condo's for $500 - $600k, townhouses for $450k+). Stephen Starr the reknowned restauranteur has opened 2 locations in the area.
Bart Blatstein (I would argue one of the best real estate developers in the country), developed the apartment complex called, The Piazza and sold it in the worst real estate market for a significant amount of money (making money)
As for the National Realty, I do not know much about them.
Thank you Sean for your insight,
It is definitely assure to know that northern liberties is a hot market. The new construction they proposed I believed would be a townhouse few blocks away from Piazza. I guess that is a plus right there.
Northern liberties is a great place to invest in my opinion. Personally I'm not the biggest fan of working in Philadelphia proper (as a contractor) but that is one of the few areas I'd make exception for. Working strictly as an investor with the budget to afford to make moves in the area I'd be happy to focus on Northern Liberties.
I think No Libs is a great area in Philly but I think you might want to try to look around at other spots that are ahead of the trend. No Libs was just a burnt out part of North Philly before Bart. Maybe you can look deeper into Fishtown to get a better ROI.
Hey Steven. As folks mentioned, NL is one of the hottest areas in the city. Make sure the property is located in NL....sometimes the property is located a few blocks from the Piazza and it's not within NL boundaries. My tip would be ALWAYS do your due diligence at the market you are investing in.
Regarding National Reality, I am not familiar with them. Is this their website? http://www.nationalrealtycorp.com
Will you be a debt equity partner on the deal?
Thank you Greg and Rosa,
I am definitely doing my share of research as thorough as I can.
If i understand the term correctly, I will not be a debt equity partner, but a sole investor going into this.
and this is their website http://nria.net; and a long article about them from business insider http://www.businessinsider.com/national-realty-says-it-isnt-a-scam-and-invites-us-to-its-offices-in-hoboken-2010-6
sounds to good to be true if you ask me ... but do tons of due diligence before you hand over any kind of money to that company or any other company you intend on working with.
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