All Forum Posts by: Michael Hong

Hello BiggerPockets members. 

Perfect opportunity to own and run a business and have your own dwelling all in one huge corner property. Already zoned CMX2, and with 3 car parking, this is a turnkey investment opportunity. With high visibility and on one of the busiest intersections in the area, expect high volume and high traffic. The last owner was bringing in $50,000 from the lotto business alone! The kitchen was recently rehabbed, and no expense was spared with $125,000 in renovations and upgrades. Easy to stop in and say hi. 

Craigslist Link

Contact: 

Michael Hong
215-526-4852

Thank you

@John Gonzalez welcome and congrats on the decision to invest in real estate. Good job participating in BP as well. Great resource for information and to network and bounce ideas off of other investors. 

Definitely take a look at the book on flipping houses. Awesome starting point to get things kicked into gear and to set a road map. 

Also I always recommend meet ups. Philly has a lot of meetups going on constantly. Joe Scorese does a great job of getting together productive and informative meetups with plenty of people to network with. 

 I'm used to having this situation when representing a buyer. My job as a realtor is to provide a service and with the best interest of my client in mind. However I am your representative. I do what you want as an agent.

But from a negotiation standpoint sometimes throwing a lowball offer can hurt the integrity of the deal later on and this really depends from situation to situation. But in the end it's not my money. I can only advise my clients what to do. I always leave it up to them to decide what they want to do and I just at least let them know what my opinions are and layout some options for them. If after we've had that discussion and they want me to write a lower offer, then that's what I'll do. Atleast I did my due diligence and tried to advise. 

I believe not every fiduciary relationship is the same  There are many different agents and they all have different tactics/strategies that make them all unique and same goes for clients I always advise my friends and other investors to interview around and see if there is an agent out there that can match your needs as a buyer. 

Off market deal. Property is online as an investor special at a reduced price. 

Property will be listed on the MLS this week (5/16) at $170K

• 3 Bed 1 Bath Temple University. Currently rented out for $1,500/month starting July 2016 until July 2017. 
• Property is rehabbed and tax abatement was just approved. 
• Contact me by phone only for more information
  

215-526-4852

Can you give me a little more info on the property Jonathan ? Our office just sold a property in about two weeks closer to Newbold for over $200k.  

 Vlad I've been working with both buy and hold investors and flippers in Philadelphia. I've been mainly focusing on investors from NYC. I grew up in Hackensack and saw first hand the developing that's been going on in NYC. I'm also in touch with a few people in NYC as I'm also interested in the recent activity going on in Brooklyn. Have you touched upon Brooklyn at all ? Maybe we can help each other 

Philadelphia is a great city, with Temple U and Drexel U really investing money into aggressively recruiting more students into the area, the city is in a prime position to grow much further. I also love the fact that Drexel and UPenn are putting in so much resource into building West Philly into the technology sector of the city. I grew up in Bergen County NJ went to school in Upper Saddle River and watched NYC grow throughout the years, what brought me to Philly was Drexel and I stayed here ever since for 10 years and see such rapid growth like I did in NYC. 

There are many different neighborhoods in the city, and each with their own unique characteristics that really make the area stand out. I'm so happy that I get the opportunity to work literally in the middle of the city and watch the city grow. 

Definitely invest in your business as an investor, do homework and utilize the right resources. Interview around a few people when you're considering investing, and meet as many people you can online or in person. We have some great networking events in the city that have people in the business ready to help in all different types of ways. They're also extremely educational. @Joseph Scorese does a great job at introducing new ideas and and educational events that hold value. 

BP is also great at providing tools for investors and is a great resource to network on. Lots of investors in here that have positions in Philadelphia already and from my experience all are willing to help if they can. 

@Tawhir Hoosein welcome. Great job on taking the steps to building a team in philly. The market is on fire and there is so much opportunity. Definitely check in on BP to find others to network with. I've also been to a few meet ups organized by @Joseph Scorese that really focus on all aspects of investing in Philadelphia and there are plenty of invitees that attend and are all willing to network. Feel free to message me with any questions I always love giving feedback as well as advice. Personally I am working on buy and holds and also work with investors

beautiful ! Love the front yard awesome job

Investor SPECIAL! Seller has agreed to keep the property off market and exclusive to investors first for a reduced price. $30,000 before it gets listed in less than two weeks. Please feel free to check pictures on CL http://philadelphia.craigslist.org/reb/5515966677....

Showings by appointment only. 215-526-4852 
Michael Hong REALTOR with Coldwell Banker Preferred Center City