All Forum Posts by: Blake M.

Thank you all for your help! I did some digging online and found a Use permit completed and appears to be approved... I'm guessing this is what's enabled the licenses annually?  And I think should be good to go.  Let me know if folks feel otherwise.

Thanks again for your help!

Hi All,

I've seen many MF's in Philly that are not zoned properly - I am considering one in particular in an up and coming area that cash flows well but is zoned residential.  However, the owner has licenses for each unit and has been able to do so annually.  Couple questions for the group:

1. Would you still consider this property?

2. If you have a license but not the zoning, do you lose any core benefits (i.e. the ability to evict)?

3. What specifics would you write into the offer contract to protect yourself?

Appreciate any thoughts here. 

Thank you!

Blake

Thank you all!

Hi All,

I am interested if anyone has recommendations on local banks in Philadelphia who work with investors.  Specifically, I am looking for one that would be willing to refi an investment property on a 30yr fixed mortgage with low/reasonable rates. 

Appreciate any thoughts!

Thanks,

Blake

Thank you all for the advice! Really appreciate your help.  

Super helpful, will give West Passyunk a look.  Thanks @Mike B.!

HI All,

I am looking for investment opportunities in Philadelphia, specifically in single fam or small multi-fam homes.  After seeing about 30 properties all over the city, we found that Manayunk and Roxborough were the only alternatives with reasonable cash flow without dipping into highly questionable neighborhoods.

Does anyone have any thoughts on investing in these particular areas?  Are there other areas folks would recommend looking at with favorable price to rent figures in decent neighborhoods?

Appreciate any thoughts.   

Thanks!

Blake