All Forum Posts by: Calil Clark

Hi, BP!

I was wondering how investors determine appreciation (or depreciation for that matter) for a specific neighborhood or city year over year?

Example:

- In 2015, median sales price for a specific neighborhood is $148,933.

- In 2016, median sales price for that same neighborhood is $159,562.

Would that mean that this neighborhood has experienced appreciation of 6.6%??

Also, are median values safer to use than averages?

Thanks!

Thanks, Gentlemen! @Joe White @Mark Nolan

Hi Dusin and welcome!

All of BP's book recommendations are really good.  I just finished "Think and Grow Rich" by Napolean Hill.  It is not a real estate book, but a mind set book, and I think it is a must read! As Derek said, "The Millionaire Real Estate Investor" was great. Literally gives you a road map on how to invest in real estate. Also, "What Every Real Estate Investor Needs To Know About Cash Flow" by Frank Gallinelli was crucial for me because I look to invest in income producing properties. Hope this helps and good luck!

Tons of construction currently going on in Brewerytown.  My family has a house over there on 29th and Oxford, which is a little far down from where investors are seeking, but still no complaints about safety.  I know the area well and like it a lot.  I know which blocks to stay away from, but overall I think its a great place to stay.  Close to downtown, Art Museum, Kelly Drive, and West Philly/University City.  I literally walked to Made In America at the Art Museum the first year it was in Philly.  That alone is a good sign that the location is prime. Hope this helps

Hi, BP!

I noticed that I haven't  introduced myself since becoming a member!  I'm Calil, born and raised in Philadelphia.  I am a new investor in the Philadelphia area, bought my first property at the tail end of 2015 at the sheriff sale (learning experience lol).  I currently have it listed for sale and pretty excited about it.  I found BP through a friend of mine, started listening to the podcasts and now I am hooked!  A lot of good information from experienced, down to earth people here, which is awesome.  I have made the decision to invest strictly in 2-4 unit multi-family properties, preferably in Brewerytown.  I recently acquired my license as well, mainly for the education and to assist my investing business.  In my spare time I enjoy doing Crossfit at a local gym, reading, meeting new people, and traveling whenever time permits.  I'm a very optimistic, positive person and love working with people.  I am currently seeking a mentor/coach relationship, preferably someone in Philadelphia with years of experience in the real estate industry who may be looking for a young, motivated individual. Anyway, feel free to shoot me a message, (that goes for anyone) I love talking real estate and meeting with people in this industry!  Hope I didn't bore you!! LOL

congrats!!

Awesome, congrats!

That's great you are here to help the newer investors like myself. I am a strong believer in the more you give, the more you receive. Keep on keeping on! I am actually looking to buy a multi-family unit and house hack myself. I'm currently renting now so I don't have a problem living amongst tenants, but I'm not too excited about possibly inheriting tenants. I would feel much more comfortable screening tenants myself. What's your take on buying an existing multi-family unit vs buying a distressed home, renovating it the way I would like it, getting it zoned as multi-family and screening tenants myself? Also what are the zoning costs like to make such a move? I'm assuming you've been on both sides of the fence with your experience