All Forum Posts by: Sebastian Bennett

@Yechiel W. Philadelphia has a number of fundamentals that make the city attractive to investments between the stable employer base and proximity to both NYC and DC. I agree the crime is an issue, but I am hopeful the new Mayor can help clean up the city. The Kenney administration was a complete disaster on top of the obstacles many urban centers experienced during and after the pandemic. I would certainly bet on Philadelphia, but as @Alan Asriants mentioned, its really neighborhood specific. 

@Justin Goodin You attack anyone who questions or criticizes what you write on these forums but never provide a counter argument or constructive responses. Why don't you explain to us why @Stuart Udis is wrong? Not to mention, you duck out whenever someone questions whether you own the assets you list on your profile page. Isn't that right  @Melanie P. ? You can't hide behind the fact you don't see the messages judging by how quick you are the respond to any criticism. Why do you run away when you are asked point blank if you own the buildings you claim to own? Also, pulled this article from one of @Stuart Udis BP profile page listed projects. Seems to have some experience....
Mt. Airy development plan addresses community concerns, adds affordable housing | The Chestnut Hill Local

 

If you connect with an JV equity that's not compatible, would appreciate an introduction!

Here's a calendar with events where you can network with contractors. I'm working on geting my OSHA 30 completed so I can get my own contractor license and pull permits. Still have a way to go before I possess the necessary knowledge but it seems like self perfoming is the way to go in Philadelphia.

https://business.biaofphiladelphia.com/events/calendar/

@Greg Kasmer Take advantage of these forums. There are some sharp people who post on here and who approach the business and think through scenarios differently (in a positive way).  I don't want to mention specific people to avoid the perception I am somehow promoting them but they stand out amongst the crowd. I suspect they can provide the services you are seeking.

Vidit, with all due respect with a net worth between $2M -$3M pick up the phone and hire a damn attorney. What in the world are you doing seeking legal advice on a forum like this?

Ok, not sure why you are comparing Spring Garden to a hard money lender when they are one....

@Justin Epperson  Spring Garden is a hard money lender...they aren't a bank. If you are saying they are too close to a hard money lender in terms of pricing I beleive what you are saying is they are the cheapest hard money debt you have been able to find :)  Ironically Spring Garden Lending came into existence when Univest acquired VG Bank many years ago. Lending went dowhill and everyone left. No idea why Univest and Spring Garden Lending would even be compared against each other. 

@Thomas Brown I was thinking the same way until I started going to a few meet ups adn speaking with contractors. I learned its not as easy as pricing based on the square footage. Each home has to be viewed independently as each has unique characteristics. Stuart is also right, the smaller home are actually costlier to renovate if looked at based on the price per square footage.

Unless this is an opportunity where you are going to come out with a robust knowledge base and the investor will be a complete open bookd i don't see why you would do this. There really are no financial benefits to such an arragement and will be a compelte time suck. Better off continuing to raise capital for when you are financially in a place to buy. Also from the investors perspective why do they need you? Why can't they merely buy the property on their own.