All Forum Posts by: Matthew Niemynski

Hey Etienne! 

I am located in South Philly. Would love to get together and chat. Feel free to connect!

Hey Nicole, 

Happy to help. 

What strategy are you looking to implement? Is cash flow your main goal for these properties? Are you willing to do some rehab on these properties?

I am in the Philadelphia and Surrounding Market and there is plenty of opportunity out this way to generate cash flow. Just depends on what you are looking for and what is important to you. (neighborhood, price, condition, etc.)

Would love to connect!

Matt

Woah! Nice acquisition. Like Eric said, where is this at if you can share? 

Hey Rafael, 

I would recommend finding a partner! You would be able to pool your funds together while also mitigating your risk. Forming a team with a local contractor, lender, and someone who can find you deals will explode your business. Network, network, network!!

Hope this helps.

Best of luck!

Matt

Hey Buyan, 

I have heard so many different things about which banks are the best when I believe it really depends on your score and file history. A good friend of mine used a local credit union here in Philly and made out pretty well. 

Also different banks will report a business line of credit on your personal file. I believe the banks that will NOT report business lines to personal credit files are:

 Chase, Amex, US bank, Navy Federal and Citi National Bank. 

Hope this helps,

Matt

If the seller agrees to the extension, all that is signed is a Change in Terms Addendum to the Agreement of Sale which states that closing on x date is now extended to x date. From my experience, I had to extend each of my deals 1-2 weeks past our initial close date due to appraisal delays, missing documents, etc. It happens. Should not be a big deal, Good Luck!

Check out this article on Krogers Merge with Albertsons. 

Is the real estate part of the play? Albertsons’ company-owned and ground-leased properties were valued this year at $13.7 billion, an increase of roughly $2.5 billion from prepandemic 2019.

Time to buy the dip?? $KR 

https://www.cnbc.com/2022/10/1...

This is really interesting, would love to learn more about this. I wonder how the materials you mentioned affects costs. Would a more environmental approach to a new build/flip be more costly so developers and flippers sway away from this? Would developers/investors get some sort of tax advantages of using these materials? In my opinion, if there was some sort of advantage in using eco friendly materials, solar etc. it would be used more freely  and become a normal practice. 

Check out this interesting article by The Inquirer.

https://www.inquirer.com/real-estate/housing/investor-real-estate-rental-homeowner-philadelphia-drexel-reinvestment-fund-20221013.html

"The researchers focused on sales of one- to four-unit homes. From 2020 to 2021, investors bought roughly 24% of these homes sold in Philadelphia, according to researchers. In about 15% of these transactions, homeowners sold to investors. The rest were cases of investors selling to fellow investors."

Large funds are buying when everyone else is fearful. What is stopping you from buying?