All Forum Posts by: Eric Greenberg

Focus on the strengths you have, with one of those strengths being that you live and want to invest in Philadelphia. Use that to your advantage by knowing your specific area better than 99% of other investors. Also let friends/family/neighbors know you are looking for a property to help source deals. Even if you wont buy that property you could always find the end buyer and make some money along the way. 

If you dont already know the laws for STRs in Philadelphia I would caution you to not buy this deal and start to learn what is needed first, then find the deal.  Doing it the other way feels like a bad idea…

https://www.phila.gov/services/permits-violations-licenses/r...

Welcome! If you are looking to invest inside of Philadelphia the Philly Landlords Connect FB group is a great resource 

This seems pretty spot on for certain locations in Philly, specifically where you are talking. That said there is alot of new development happening specifically around broad and Girard but again that area to me is still a dead zone and not an area I would buy in. 

We have seen quite alot of appreciation in the Fishtown/Olde & East Kensington /Northern Liberties areas in the last few years but its really hard to make things pencil now without finding a great deal and/or something that needs a good deal of work. 

I use a version of this for our LTR & MTRs. I will say for some MTR guests we dont sign a lease but it depends if they come through Airbnb/Vrbo/FurnishedFinder/etc 

https://freeforms.com/wp-content/uploads/2020/04/Pennsylvani...

If this was me I would find out what similar places rent for in your area. call up commercial leasing agents in the area who know this space, talk to contractors, etc. 

 Send me a DM and we can set something up

It may be lathe and plaster and not drywall fwiw. Any photos of that area before to see if there were stains there previously? If you are worried about moisture have you used a moisture meter to see if there is a delta between that area and somewhere else on that wall? 

I think you need to define what your goals are and what you are after in more detail rather then just saying a BRRR. Yes you can make money in Kensington and Strawberry Mansion but does that the type of asset and renter align with your goals? The numbers will look great in a spreadsheet but you really need to make sure you are ready for what those areas will throw at you as an investor.

Congrats! From talking to investors over the last few years there seems to be alot of action that way.  Also any chance you will be able to bring Nonna's back?