All Forum Posts by: Ankan Basak

House is a duplex. Renting out 1st floor while I live upstairs. Got a notice of violation saying - "alleged illegal apartment, need to inspect premise". Dont see actual violation code on the notice. Not sure how inspector can inspect my place based on some allegation, and not based on some hard evidence. Do I have to let him in anyways? What do I do?

Thanks everyone for the inputs. I think I am going to buy and hold. I dont need to pull out cash right away. Also, I feel more comfortable renting out, due to my landlording experience.

Was curious if anyone with the neighborhood experience could tell whats the activity like in the area - more buy and hold, or flips?

So finally I closing on a house in West Philly, 59th street, between Cedar and Baltimore Pk. Can't wait!

Still in two minds about whether to hold/rent or do a flip. I can practically bring in tenants after some quick and basic fixing such as the roof, painting, carpeting and new windows. Or should I go all out and do a flip? I know this is an upcoming area, but how much upside there is if I hold for a few years and then sell?

Just to give a better clarity on this property's situation. This was bought by someone at an auction already from a tax sale for 13k in Jan of '18, who turned around and put it on market for 40k. Now, since this is a tax sale, and 9 months yet to pass since the deed was given to him, I suppose there is still some risk of right to redemption. I might as well wait for 9 months to pass before I offer, otherwise I may loose whatever additional I pay above the amount he bought it for? My aim to offer much less than asking. 

The block this property is in, has quite a few boarded up townhomes. Unsure if that says the block is no good?? Wanna hear your thoughts.

Thanks @Account Closed Going for a tax sale property. Asking is $40k. Anything I should watch out for in a tax sale and is the asking too high?

Thanks. Will look forward connecting with you.

To Alexander's point, its block by block. The fact that the neighborhood is going up doesnt mean each and every block going up the same rate, if I understand his point correctly. 

My question is how do we get to know which blocks are bad and which blocks are good? Do you look for new constructions and rehabbed properties next door to your interested property?

Hi, I am a newbie, out of state investor looking to start my fix-flip career in Philly. Looking to start with a lower risk project, so I am looking to purchase something under 50K. Found a property in Strawberry Mansion neighborhood for 35k, but confused about ARV. Next door sold for 135k but thats almost a year ago. Any help will be much appreciated. Rehab looking like 60-70k.

Thanks

What you guys think of investing in a fix and flip home in kingsessing area by the railtracks? I am a newbie in fix/flip and this will be my first deal.