All Forum Posts by: Russell Volk

hey everyone,

I'm new to the whole investing arena.  I'm very interested in learning how flipping works.  I will be buying my first property in the next few months in Philadelphia.  Since I'm self-employed, I have some flexibility in time, but I was thinking of hooking up with a general contractor who will help me complete the rehab.

The house that I'm thinking of purchasing is a row house in Philly, about 1,200 sq. ft., 2 floors plus a basement.  These homes are typically bought for about $40k.  Rehabs typically run about $40k, without using a GC.  AVR is usually around $110k - $$125k.

If I were to hire a GC, how much should I expect to pay?

Like I said, I'm pretty new to this, so any advice will be greatly appreciated.

Thanks Brandon.  I'll do that.

Hey Guys,

I’m new here. I live in the suburbs of Philadelphia, just north of the city. I’ve been a real estate agent since 2006 with RE/MAX, but concentrated only on “traditional” sales, where you deal with buyers and sellers only. No foreclosures, no short sales, no distressed properties.  All sales were outside of Philadelphia. I would like to start investing (flipping) myself in the Philadelphia area, but I don’t know that side of the business or the area in details. So I thought of trying to find an “investor friendly” Realtor in the Philadelphia area, who can help me learn the business, find properties, analyze properties, guide me when it comes to rehab work, and in return, would get a listing to sell. That’s just in a nutshell.

I would like to hear from others from Philly area. Regardless of what your specialty is, say hello and let us know how you’re involved in real estate investments. Perhaps we can work together some day.

Cheers,