All Forum Posts by: Maricruz Romero

@Alyse Oz does your general contractor not deal with that? I asked the GCs I spoke with and they said all permits would be taken care of on their end

@Victor Menasce thanks for the advice! I actually hadn't considered the assistance of an architect do you think this is needed for smaller one family projects?

Hi BP,

I am currently in search of a contractor for investments I plan to make in Philadelphia through the BRRR strategy. Although I haven't acquired my first property I would like to get aligned with a contractor to facilitate the process once I find a good deal:

- What are some questions I should be asking contractors to determine if I should work with them on my first project? 

- How do I compare different contractors aside from price (because I know cheaper does not mean effective)?  

- What are some things you've experienced that you wish you would have known when looking for a contractor?

- Given that I do not know the extent of the work that will be needed on my first project how do I go about asking for price ranges?

If you have any recommendations on general contractors in Philadelphia please feel free to message me. Thanks in advance!

Hi BP,

I am currently in search of a property manager for the RE investments I plan to make in Philadelphia. Although I haven't acquired my first property I would like to get aligned with a property manager so that I can leverage their knowledge while searching for my property. What are some questions you recommend I ask a property manager as I get to know them to decide if I should work with them? Also is their anything specific I should be looking out for to determine if they are a good property manager? What are some things you've experienced that you wish you would have known when looking for a PM?

If you have any recommendations on property managers in Philadelphia please feel free to message me. Thanks in advance!

Hi BP,

I am currently looking into a wholesale deal in Philadelphia. I am a first time buyer so I want to make sure I ask the right questions if I decide to buy from a wholesaler. I am currently looking into a wholesale deal but I only have the following information: Price, sq. footage, clear title (will do a title search on my own), pictures, buyer pays for transfer tax, they are looking for a 1 week settlement. I am planning on contacting them and requesting the following information, I know I have to do diligence on my own but figured I should ask for these numbers and then try to compare to my estimates:

- ARV - What is the your estimated ARV and can you provide me with the comps you are using?

- Repairs - Do you have an estimate of repairs needed? What are kind of repairs are you including in your estimate?

- Can an inspection and appraisal take place before closing? 

Any other questions or things I should keep in mind when requesting information about a deal from a wholesaler? Thank you, any advice is appreciated.

@Joseph Scorese when are the monthly workshops held? I am planning to visit soon so might be able to attend one.

@Efraim L.

I'm glad it is also helping you with your research. I am interested in the BRRR strategy with a focus on cash flow and it is hard to find a property in NYC that would allow me to do this. I am also planning on visiting so that I have a better idea on what areas to look into and build a team.

@Steve Babiak

@Steve Babiak

@Art Perkitny thanks for the map! Yes that's what I've heard so I'm going to try to narrow my search as much as I can as well as contact agents / property managers in the area.

@Brendan Markle thank you I appreciate your insight. Do you have any advice on how to research a neighborhood to know where you would have a higher chance of getting better quality tenants or what part of a neighborhood you should specifically focus on? Thanks!