All Forum Posts by: Eric Greenberg

Hi Leo,

If you are still looking for an inspector send me a DM. 

Hi Jesse,

Id start by determining how much money you will have for the property and rehab since we are talking about a BRRR. Then you can determine what areas you can afford and see if they pencil out on Zillow/etc for rental comps.

After you find those areas in Philly that meet your financial goals go to each of them and spend some time driving/walking around.  I think way too many folks buy in Philadelphia without ever stepping foot here which can work in certain spots but most areas change drastically in only a block or two.

Do you already know how you plan to acquire the property? Cash/Hard money/mortgage?

Happy to talk in more detail via DM. 

 Tony,

I would personally fully understand what improvements were done to the property and when as much as possible prior to sale. 

As for CapEX it would matter what type of heat you have, what type (if any) A/C you have, what type of roof you have and the sqftage, what appliances do you provide on top of the normal  fridge/oven (ie dishwasher/microwave/washing machine/dryer/etc)

I dont know where you are buying in Philly but $1500 for a 2/1 sounds realistic. 

The biggest issue I see is no CapEX and a small (5%) towards repairs. Happy to talk in more detail but unless this is a new build (which id still be weary of in Philly) or recently rehabbed Id want to set aside alot more capital for the CapEX/reapairs that come along with our older homes. 

Id also throw in a rental license fee and potential for snow shoveling unless thats on the PM. 

Hi Adeeb,

Have you been keeping up with the new regulations surrounding Airbnbs in Philly?

Good luck on the journey. If you plan to invest in philly learn up as much as you can in our local forums/groups/meetups. 

Kris,

Happy to discuss via DM single family and small multi family investing and teams I use who are based in Philadelphia if you’d like. 

 If you are still looking for a Philly RE attorney let me know and I can connect you with the one I utilize. 

 If you are still looking for a Philly RE attorney let me know and I can connect you with the one I utilize. 

Id also throw out the potential use of taking a loan from your 401k assuming you have adequate money in there as either reserves or to help fund the downpayment if you find a deal. Its a bit tough to say what a good price range is as 1hr radius from Philly had A - D areas. For a house hack Id first make sure you feel safe and enjoy the area before being hypnotized by great returns in a calculator.