All Forum Posts by: Monica Williams

Calling all real estate enthusiasts, our REI on Tap event is here to rock your world! Join us on March 14th from 6-9pm at the awesome and newly renovated Off the Rail in Media.

This isn't just any networking event, it's a chance to mingle, connect, and have a blast with fellow real estate aficionados. Whether you're looking to meet new faces, showcase your expertise, or simply soak up some real-life wisdom, REI on Tap has got you covered.

Mark your calendars, spread the word, and get ready to make some serious connections. See you there!

Use the link below to reserve your spot!

REI on Tap Registration

Hi @Erick Montero, welcome to the world of REI! BP is a great place to be to help set up your team and build your portfolio. Best of luck with your investing journey!

Hi @Amira Lucas, welcome to the world of REI! BiggerPockets is a great place to be to learn more and to connect with people who can help build your team. Good luck with your investment journey!

Hi @Tylah Willis, BP is a great place to network with other agents and to learn about different meet-ups in the area. I'm also an agent in the area, I'd love to connect to talk more!

Hi @Eric Yee, there are a few variables that Philly will take into consideration when approving or denying the zoning. They will look at the area and if others have gone through the variance process. Its also based more on your lot size than the square footage of the house. You need to have a minimum of 360 sq.ft. per unit so your lot needs to be at least 1080 sq.ft.

This post is from 6 years ago but this is the process another investor went through to get a variance for his property.  https://www.biggerpockets.com/forums/742/topics/511026-how-i...

Hope this helps! Good luck!

Hi @Ronald Grams, that's awesome! Good luck with your REI journey, can't wait to hear about your first deal!

Hi @Dean Cohen, welcome to the world of REI! Like everyone said, BiggerPockets is a great place to be to connect with like-minded people and to learn more. Having experience working with GCs will be handy for when you are getting into your first deal. I'm an agent in the area, feel free to connect if you have any questions or just want to chat about RE in Philly!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $77,000

3 bed 1 bath 982 sq.ft. row in Cobbs Creek, first floor is fully gutted, upstairs is outdated and needs some TLC. Flip comps trading anywhere from 220-270k, and rental refi comps trading 180-200k.

How did you find this deal and how did you negotiate it?

Through New Western

How did you finance this deal?

This was bought with cash.

How did you add value to the deal?

This house is getting fully rehabbed, a new kitchen and bathroom, finishing the basement, and adding a half bathroom on the first floor or in the basement.

What was the outcome?

Still in the rehab stage

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

New Western

Hi @Malik K., over in that area, Cedar Park, Walnut Hill, Cobbs Creek, you're looking at a B to B+ rating. Tons of flips and new construction happening over there. There are still a couple of run down houses here and there but overall that part of West Philly is pretty nice.

Hi @Samantha Storz, welcome to the world of REI! BiggerPockets is a great place to network and pick other investors brains about their experiences. I'm an agent that specializes in off-market investment properties in the Philly area, I'd love to connect and grab a coffee to chat more!