All Forum Posts by: Ryan D.
Ryan D. has started 8 posts and replied 92 times.
Post: Germantown Worth it or Not?
- Developer
- Philadelphia, PA
- Posts 100
- Votes 81
Originally posted by @Dave Ventura:
Thanks guys I really appreciate your input. How do you feel ARV evalutions out there? I have seen some comps for a 3B/1B or 3B/1.5B come at high enough to make the 70% rule work on a BRRR strategy investment but have honestly not looked into too much yet. I had been focusing on Manyunk & East Falls but there is basically no inventory at this point there.
We've been looking mainly at Kensington for the past 4-5 months trying to make a deal happen for our first multi-family. So now that I've started to run the numbers on Germantown, it's much easier to have a property appease my financial model and the 70% rule. I run only off-market & auction comps as we're going to be using cash to buy via the auction or direct from the owner.
Post: Germantown Worth it or Not?
- Developer
- Philadelphia, PA
- Posts 100
- Votes 81
Hey Dave, I'm looking at Germantown as well. It seems like there's a lot of exciting businesses in the pipe and access to Wayne Junction makes it a very attractive area. The good thing with Philly nowadays is investors from NYC are buying up everything since everything is so cheap compared to Brooklyn and elsewhere.
I see nothing but good things for Germantown 3 years out from now. I use google search trends to gauge where a local market may be in the business cycle and see Fishtown similar to how Brooklyn was for NY around 2003/2004. Anywhere in Philly near the El or any major train stop will be a great buy long-term. Best of luck to you.