All Forum Posts by: Andreas F.

I opened a bank account as a foreign national in the US when I was there the last time. With this in place I can decide when and how to transfer money.

hi all,

Does anyone have made experience with the model the company is offering?

they offer a model whereby they sell a rehabbed property to the investor with no markup. After 1 or 2 years the net rent will be shared 50/50 BTW them and the investor and in case the investor sells the property the gain will be shared 50/50 as well.

There are certainly pro's and con's. I find the model interesting and would be happy to hear your opinion.

Andreas

Mary B. Re rental comp I checked at rentrange.com and 950usd seems to be a good average rent. I might need to check for what owners are selling similar houses in that area.

Mary B. U r right, I am not from the area. I visited philly really recently checking different locations and properties. So certainly not a detailed knowledge about the town but got some impressions. So once I buy a property it will or must be managed by a local company as I am coming to US one to twice a year. That is the reason why it am after the turnkey concept. The price is after rehab for sure.

@Mary B. 

The costs include tax, insurance, 5% maintenancem 7% vacancy and 10% mgmt fee.

The location is really difficult in philly as it changes so much from block to block and I am an out of country investor. That's the reason I am raising basic questions here in the forum and appreciate all the priceless input,

BTW - is there on BP any kind of definition of what differentiates a B vs C vs D location?

Originally posted by @Mary B.:

Originally posted by @Steve Babiak:

What block of N 59th Street? Might not be a B area ...

Doesn't matter which cross street of 59th St. Its a C+/- area at best. IMHO.

Kudos,

Mary

 ok, so I am obviously not an Philly expert and appreciate your view. if that location is a C in your point of view, what example can you provide for a solid B location? I just want to understand the difference.

thx andreas

it is the block btw media and master street

Hello all,

appreciate your advice and feedback for the following deal. It is a SFH located in Philadelphia N 59TH Street.

• Purchase Price: $74,020
• Monthly Rent: $950
• Est. Monthly NOI $615

• Year Built:	1955
  Bedrooms:	3
  Bathrooms:	1.0
  Floor Area:	1150 Sq Ft
  Land Area / Lot Size:	1076 Sq Ft
  Stories:	2 Stories

• Property is offered via a TK provider, would be fully renovated with new roof, plumbing, electricity etc.
• Cap rate would be at 9.7%
• Location wise it is a B location

What do you think about that offer? I know the area a bit and  think it is a B location. Investment wise I am looking to buy for cash flow. Cap rate looks ok, only question I have is re the offer price. I think there is not much equity build into and that relates to the point of exit strategy, e.g. selling it after 5 years.

thx, Andreas

Hi,

I am looking for a web services / watchdoe that can watch or monitor a specific website (from a small TK provider) and inform me via eMail when a new listing is available. This site of the TK provider itself does not provide news feeds or similar services.

Anyone an idea?

If there is no services available, I might consider virtual assistant to scan daily.

Thx, Andy