All Forum Posts by: Francis Nguyen

Hi @Sean Banilivy. Brewerytown is a great area but you will certainly be paying a premium just as you would Fishtown. I do agree with @Joseph ODonovan in that those ARV numbers are relatively low for either Fishtown or Brewerytown. I would say those numbers would be more comparable to the acquisition and rehab numbers rather than ARV. I would definitely recommend Cobb's Creek as there is a solid renters market over there and would be more realistic with that $140-$180k range. Have you considered investing a little bit out of the city? There is also great opportunity in the surrounding suburbs, such as Lansdowne or Collingdale that are developing.

Hi @Justin Tyler the boundaries in Philly are very thin so I would suggest driving around and seeing each specific pocket for yourself. Fishtown is a great area, but as you mentioned you would be paying a premium for inventory, where as you could make a similar ROI elsewhere such as Strawberry Mansion, or Gray's Ferry. Cobb's Creek is a solid renter's market. I have closed a few deals in that area, and know that there is a high demand for rental units. Good luck with your journey!

@Matthew Jermyn This is a perfect time to build your network so I would recommend getting in touch with as many lenders as you can. Lenders are tightening up their underwriting at this time so it doesn't hurt to have a few in your back pocket. If you would like recommendations or just want to talk real estate feel free to message me off-forum! I will be happy to assist in any way I can.

Hi @Tracey Solomon there is no current law that forbids renting out properties in Philly. With that being said, my team and I have been doing showings virtually just to be on the safe side. My acquisitions agent will show the property through a live stream and answer questions after they have walked through the entire house. We have had found success with this adjustment, as it allows our clients to have a more in depth look at the house without being at risk. 

Welcome @Devan Russo! I am also a Temple Owl Alum. Go Owls! I would recommend following real estate groups on Facebook, listening to the podcasts and joining virtual meetups. Are you looking for a flip or buy and hold for your first project? Despite what is going on in the world, this is a great time to build your network and learn more about what you are looking in particular. Feel free to reach and connect if you have any questions!

Hi @Matthew Jermyn. I would lean more on local lenders. Is there a reason as to why you are looking out of state for your first investment property? There is great potential here in Philly and surrounding suburbs. I would recommend staying local for your first project so that it would be easier to manage.

Welcome @Jayce Wagner. I would recommend joining the webinars and listening to the podcasts to start. Also as Dan stated, fill in keywords to help narrow down areas that you are looking into as well as anything that you would like more information on. Feel free to connect if you have any questions!

Hi Michele, I focus in all areas of Philly and also surrounding suburbs. I would be happy to answer any questions you may have.

Hey Pat, There isn't a timeline as to when but PA senate have sent a bill to Gov Wolf. to reopen private and public construction (along with all other businesses in PA) under CDC guidelines. It looks like we are taking a step in the right direction but again, no definite time line.

@Jaret Lara I would agree with your friend's advice. I am aware that there will be a 15-20% flipping tax that will be passed in NY which would make it extremely difficult to have any sort of margins on the outsell. I would suggest a rental for your first project and then once you are able to generate some sort of cash flow then you could look into flipping. 

I would say anything in North Philly and Southwest depending on what pocket would fit that ARV range. I would be happy to help in any way I can. If you would like, shoot me over a message and we can have a deeper discussion!