All Forum Posts by: Alex Uman

I would verify with a contractor whether or not that rehab number is accurate before buying anything. There's likely a reason they are willing to sell for that low.

Congrats on the deal!

Surprised you can't build attached with RSA-3 Zoning. 9' would definitely not be wide enough to attract tenants or buyers. I would consult the zoning guide/ZBA to see if there are any work arounds: https://www.phila.gov/media/20...

I'd recommend buying a multi or a few SFR. Or you could put it all on ITM 2024 Zillow Calls and retire early. All depends on your goals and risk tolerance.

@Joe Splitrock I would hope so lol

You would need to contact the heirs on title. The estate will also need to be probated before you can close which is typically a 60+ day process.

I hope you bought it back then. Would be exceptionally valuable now with the recent increase in MHP investing.

If their name isn't on title then they don't own it.

So if you are unable to finish the build, or if it doesn't sell he gets to keep the land and whatever improvements you added to it. Doesn't sound like a very good deal to me unless he were to add you to the title. There must be shared risk to have shared reward.

@Tiffany Onwudinanti I use the Amex Gold Card. 4x points on most everything I use it for.