All Forum Posts by: Ryan D.

Love it! +100k tax-free profit is phenomenal. What neighborhood was this in? I'm in the process of finishing a full gut that my partner & I lived in the past 18 months in Fishtown and we'll end up flipping to take advantage of the tax-free sale hopefully after 3 years of renting it. Did you contemplate renting for a bit before selling? Our finishes will be similar to yours so we know flipping would provide a better return compared to a BRRRR but want to hold as long as we can to capture more appreciation.

Congrats Kahanu! 120k profit is incredible and I love your mission. Are you solely buying in Waimea/Kamuela? Curious your thoughts on the Honokaa/Paauilo market. I'm looking at buying a 20-acre parcel in Paauilo mauka for a primary residence. Feel free to message me if you prefer.

I'd love to know what data you're seeing that says our market is over-saturated. "Investors" have been saying this since 2017 here. Look at the demographics and data to understand the noise. Lack of housing supply, credit profiles of buyers now compared to previous years, and the macro trends of the rise of the 2nd tier city in America all point me to wanting to continue to buy. WFH trends all bode incredibly well in Philly's favor with being wedged between DC & NYC. I own here so I'm biased but looking at the data tells me the party is just getting started.

John your HML should provide you a statement stating you are approved for the purchase price of the property. I've never used hard money myself but the wholesale deals I've done that involved hard money on behalf of the buyer always provided me a statement from the lender showing the address of the property and stating the buyer has been approved by their fund for the purchase price. They typically say in the letter to give them a call should the seller have any concerns.

Another reformed swing trader turned Philly RE investor? The best thing about real estate is you can force appreciation if you buy distressed assets. You can't force trades - I learned that one the hard way. Welcome to BP!

I'd say start by researching online what are the hot neighborhoods in Philly then buy in the neighborhoods next to them. If it's already been written about by some news outlet, you can bet there won't be anything that can really cash flow hence why you should by the next neighborhood. Unless you're buying value-adds for cash and off-market then you can still make the numbers work in hot neighborhoods. For your price point, you're going to have to buy in areas that aren't Center City/Fishtown/University City quality but could have similar appreciation potential 10-20 years out. 

I specialize in the Riverwards as I have 2 full-gut rehabs in Fishtown that I'm currently renovating so I'm attaching a map of 19125,19122, 19134 & 19133. This map is a couple of years old but if you buy in the yellow or orange areas, you'll be good for cash flow with your entry price - just account for a bigger rehab than what you have estimated if you want to actually BRRRR. Red = rougher neighborhoods, Green = very good neighborhoods that are hard to cash flow in. The red area isn't as bad as it was a couple years ago.

Just want to clarify this. PFCU or PFFCU? And are these 8 investment properties?? If so, which product or service do you use with PFCU? I can only see mortgages for vacation homes and primary residences. Feel free to PM me if easier, looking at doing a refi shortly.

2nd this. Looks like it's in Society Hill/CC area so I'm curious how you sourced the deal? This is incredible cash flow for such a stable, appreciation-focused area.

I'm curious about what organizations provide this service and what areas of the city they rent to? I'm looking at buying an 8-unit building in Frankford and am open to renting to refugees. 

Awesome idea. I'd love to join as well. My wife and I are DIY rehabbing our 4 bedroom Fishtown shell at the moment.