All Forum Posts by: John Harvey

@Andrew Giunta DM me to chat in more detail. I agree generally though in staying away from new construction under amenitized pre-CO properties. They want to be paid as if they’re fully leased.

@Daniel Joseph Hi, I invest in several neighborhoods currently, including Fishtown, Olde Kensington, Sharswood, Brewerytown buying single family shells and converting to multi-family. DM me to chat more.

@Alex Grullon looking at a 10 unit as we speak in Philadelphia if your interested.

Looking to add an Investor Portal to our new website (www.counterpointdev.com). Any recommendations on a plug-in program for our multi family investors?

@Kevin Uzelac Are you interested in looking for shell rehabs for me in Fishtown, Kensington, etc? Specifically, looking for single family properties that are zone appropriately, such as RM1, to be converted to duplex/triplex as a matter of right. Obviously the closer to the El train and commercial corridor’s the better.

@Taylor L. Thanks for the insight. I have not considered a self directed option. Will definitely explore to learn more.

40 yrs old and currently own about $2M in single family investments which generate about $144K/yr. gross. Have aggressive 15 yr. mortgages on them with about $600K paper equity. Most of these loans are fresh so no equity to tap at the moment.

Have a career earning +$200K/yr. as well.

With a 401k balance of about $410K, I’m bored with the retirement account concept and considering cashing it out, paying the taxes and penalties to create say +/-$300K of liquidity to pump in to more investment real estate. $300K should allow me to buy +/-$1M of new real estate assets. Most likely value add plays, creating additional forced equity, and then stabilizing assets with tenants and cash flow.

Thinking I can way outperform the 401k, if I stayed the course, over the next 25 years.

401k is tracking to have a value of $1.2M at retirement age. $300K invested today earning just 8% per year is worth +$2M in 25 years, plus 25 years of the cash flows shielded by depreciation.

Seems like a no brainer. Anybody done this or thinking about doing this that can share their analysis?

Any recommendations on investor portal software?