All Forum Posts by: Francis Nguyen

I agree with @Kevin Mathisen inventory out in 'the mansion' was being picked up for dirt cheap a few years ago. Now, you can see shells being picked up in that area anywhere from $40k-50k. Even though many may consider it the hood, I have investors picking up inventory in this area, in hopes of the spillover from Brewerytown.

Hi @Sam Tikriti I have an Architect at Shah Designs. They have been in business for over 15 years and are a reputable company.

Welcome @Devon Wilson and congrats on taking the next step. It's not always easy, but nothing great ever is. I am also a Temple Alum and have lived in Philly almost my whole life. Go Owls! I would recommend attending your local virtual meet ups or joining your local real estate FB groups to get acquainted. Good luck with your journey.

@Joe White If possible, I would love to join. I agree that it would be a great exercise, since everybody has a different strategy and ways they analyze properties. 

Congrats @Matsa Sundara! It takes a lot of courage to jump into real estate and I applaud you for diving right in. Many Philly houses require cosmetic updates because they are just flat out old. It is common that you had those experiences with the 'scammer' or an unreliable contractor, but as you move forward you will be able to better pre-qualify individuals that you potentially do business with. Good luck on your real estate journey and if there is anything that I can help with, feel free to connect off-forum!

Hi @Mike Pat and congrats on taking the next step to purchasing your first property. South Philly is a competitive market, so you would have to narrow down more of what you are looking for in more detail before you enter the market. When you evaluate rentals, what is important to you? Cash-flow? Re-fi value? I agree with @Michael Blakeney that Southwest may be a better option. If you go a little further out west you won't be paying a premium price point to enter. Also, majority of the deals I acquire are 70 percent deals, so I would say that is definitely feasible. I hope this helps!

Hey @Michael Johnson congrats on the deal! I agree there is a strong rental market out in West Philly. What particular pocket was this in and much were you cash flowing after you refinanced out?

Hi @Francis McColgan! I agree that Brewerytown and Germantown are excellent pockets here in Philly, but you can expect to pay a premium since it is on it's way (if not already) to being a developed neighborhood. Inventory for multi-units are in high demand and just plain out difficult to come across. With Kensington, the boundaries are thin here in Philly, as you mentioned one block you are experiencing the 'opioid' epidemic and then a few blocks over you are in Fishtown, where value sky rockets. I would recommend looking outside of Brewerytown (Sharswood, Fairmount) or maybe even West in Cobb's Creek so that you aren't caught paying a high entry point.

Hey @Jason Kim Cobb's Creek is a solid renters market. Depending on the pocket there is definitely some flip value. Majority of the deals I have closed, my investors have had great success turning them into rentals.

Hey @Ari Datta how much are you estimating for your rehab budget and what particular pocket of Darby are you located in? I would say the rental value in Darby is anywhere from $1000-1200 being on the higher end. I agree with Joe, where it may not be an area that is on the way in terms of appreciation but there is potential in the years to come. I have closed a few deals in Darby and Collingdale and have seen inventory at a fairly low price point which makes it attractive for my investors. The crime rate isn't as low as you would hope for, but the renter demand similar to certain parts of West Philly. Feel free to connect off-forum if you have any questions or if there is anything that I can help with!