All Forum Posts by: Paulette Midgette

@Mary B., Opps.  Here is the link

http://www.dot.state.pa.us/Internet/Bureaus/pdPlanRes.nsf/infoBPRCartoMapsinPDFandDJVU

@Mary B. here is a link to PA maps in PDF.  They are not perfect but you can print most of them maybe add zip codes, could be useful when looking at areas outside of Center City Philly.

@Marc Oister,  Before you start down the road of financing you may want to consider if you may have some environmental issue that will prevent financing or would require a purchase/rehab loan (i.e., 203K).

You stated that the property has extensive mold.  Is this black mold.  If yes, then you will need to have the mold remediated by a professional.  If the mold is green, I believe that you can still remove this yourself, but I heard sometime back that you had to dispose of this type of moldy material outside of throwing it in the trash for pick (check with the city on this).  Also, know Philadelphia my guess is the house was built prior to 1978.  If I am right then you have to deal with the lead paint issue.  Again you will not be able to remove the building material yourself you will need to hire a professional. 

Think about doing some additional research on this one.  It may be a better wholesale deal for you than purchasing it yourself.

Welcome @Benjamin Lapidus I know that your time here will be well worth it.  Diversified Investors Group (DIG) is a great group in the Philadelphia area.  There are also local investors such as @?Troy S who have monthly investor meet ups. 

I will tell you Philadelphia has as had such an influx of investors over the past few years, contractors may be hard to come by.  Also, learning the neighborhoods can be a challenge since we have over 100 individuals neighborhood and within the neighborhood the housing stock and residences can vary a great deal from block to block.  I would suggest searching forums related to Philadelphia and her neighborhoods to get an idea of where folks are investing and having success.

When the time comes I know the BP family here will flood you with recos for lenders, property managers, etc. 

Reach out via my inbox if you would like to talk Philadelphia neighborhoods.  I was born and raised in Philadelphia and have lived and played in these neighborhoods all my life.  Safe to say I know the city very well.

@Mary B. and @Lindsay Haslett, Overbrook and Wynnefield are both neighborhoods in the 19131 zip code.  In addition parts of Overbrook is also located in the 19151 zip code.  Traditionally Wynnefield  and Overbrook are separated by 54th street on the Philadelphia side.  Wynnefield would be the area from 54th street moving down City Ave towards the expressway.  Therefore, depending on which side of 54th street you are on and how far you move down toward Fairmount park you may be in Overbrook when you think you are in Wynnefield and you may be in Wynnefield when you think you are in Overbrook.  I would suggest obtaining a good map of Philadelphia neighborhoods and having it handy when you out scouting neighborhoods.

Hello @Account Closed, this is the first time I have ever heard that MFHs are overpriced in Philly.  I wonder if that comment is for the City Center and surrounding neighborhoods, in which every thing real estate related in my opinion is overpriced.  Outside of the hot neighborhoods I believe MFH are fairly balanced depending on number of units.  I bought a duplex in March of this year for less than 100k with tenants in place.  The home for sale next to mine sold for 30k more than I paid for mine.  But, my purchase was in the Lawndale section of the city.  Deals are out there is you are willing to reach out beyond City Center.

Single Family homes are big with Section 8ers.  Also, depending on the area you can get great deals between 50-80K.  I would suggest keeping in open mind and not rule out any thing including condos if you want to stay in the Center City area.

Hi @Darieal Sutton, Sr.,  my rule of thumb is '3'.  When I have a problem with someone I will address it and give them 3 chances to change or take an action.

You approach your business in a professional manner and it sounds like your associate isn't on the same page as you.  If this is indeed the case, I think it is time for your two to part ways.

Welcome @Darieal Sutton, Sr. and thank you for such a great intro.  I too am a Philadelphian born and raised.  I bet you and I have lived and played in similar neighborhoods.

I am an active investor and always in search of good properties.  I don't have an area of the city that I am tied to, but I am keeping an eye on Sharswood, Brewerytown, and Strawberry Mansion.  Therefore, please reach out to me with any deals that you may have.

Paulette

AWESOME!!!

Hello BP Family,

Sadly, I lost a longtime contractor and I am now looking for a new one.  I have a duplex rehab in the city that I need to get started on.

Any recommendations for honest, reliable, trustworthy contractors will be much appreciated.