All Forum Posts by: Jeremy Fisher

@Nick Frazier Great idea! You have a good amount of options with that budget.

I'm a big fan of thinking with the end in mind; in this situation "the end" would be renting this purchase out as a rental or selling. It is unlikely that homes in the upper end of your budget will be particularly good investment properties, so if you are leaning further towards wanting a rental after a few years, we should focus on a certain price range and set of neighborhoods. 

Other neighborhoods and price ranges will be more conducive to selling for a profit in a few years. 

Good neighborhood options for sub-300k: South (aka Olde) Kensignton, East Kensington, West Kensington (aka Norris Square)*, Olde Richmond, Port Richmond, Brewerytown*, Point Breeze, along Baltimore Ave in the high 40-low 50s streets*.  
*better chance to be able to rent out, profitably, once you move out

Hi @Jay Shaik There are probably dozens of zipcodes that investors are buying in throughout Philadelphia. A few I would throw out as examples of zipcodes that can potentially make for good investment opportunities are: 19143, 19139, 19133, 19134, 19121, 19122, and 19125 close to Lehigh. Hopefully, this gives you a good starting point. Let me know if you have any further questions.

@Michael Lenahan Assuming you were able to take back out almost 37k on the refinance, you only have a few thousand left in the deal? Great job, super impressive. Think I might pass this post on to one of my clients who is interested in doing something similar. Perfect "proof of concept".

Hi @Account Closed

I'm a Realtor/Investor who lives and invests in Philadelphia.

Problem - some of the areas that make sense numbers-wise aren't particularly desirable places to live.

1. I see some areas of Kensignton and portions of Cobbs Creek as good long term plays. Cash flow is easier to achieve in West Philly, including Cobbs Creek. 

2. Transfer tax is now 4.278%, typically split 50/50 by the buyer and seller. This can drive up closing costs a bit.

3. No unusual tenant laws that I can think of, but maybe someone else can fill in here.

4. Great plan; acting relatively fast is a good idea with rising rates. Multifamily properties are more abundant in West Philadelphia, but that's not to say you should rule out other neighborhoods (West Kensington, Brewerytown, Temple U vicinity). House hacking will most likely allow you to purchase a property in a more desirable area than if you needed 25% for a investment property mortgage. 

Let me know if you'd like any more details on my answers!

Jeremy Fisher

@David Whitaker Great to hear that you getting started in! From my recent searches for clients, multifamily properties can be tougher to find good deals on, but you are more likely to find them in Greater West Philly, so that is where I would start my search. Let me know if any other questions come to mind.

@Dellener Crayton You've come to the right place. Sending a PM with some info

Hi @Steve Reiley

I can only comment on my experience, but as someone who wanted to knock out the coursework as fast as possible, I would recommend online. I started my coursework August 6th, completed it August 23rd, and passed the PA and National exam on the 28th (Note- that was right before they switched from 60 to 75 require class hours). 

I went with On Course Learning and had no complaints. I paid $256 for what looks like their "gold solution", which is now listed at $399. They frequently have 30/40% off deals though. I'm sure there is some value in taking a more personal route with the education, but it wasn't my priority.   

Hope that helps

@Nelly R. Yes, 100% possible with that amount of investable assets, not just in D - class properties/neighborhoods either. Sending you a PM now!

@Daniela Mboana 19134 can be tough. The numbers will work no doubt, but there are fewer areas that I would recommend in that zip code given crime/drug related issues. I would recommend 19133 and 19125 close to the border of 19134, but those areas will be tougher to find cash flow in. 

@Daniela Mboana Yes, certainly depends where the property is within 19143, it's a very large zip code. A ton of single family 3 bed, 1.5/2 baths, 1200 +- 100 sqft homes going for low 200's in the 52 to 56th area, in the vicinity of Malcom X Park or Baltimore