All Forum Posts by: Sheryl Sitman

Lots of good advice here. In general, I would say - do not get stuck on the house hacking concept just because it is talked about so much. Keep in mind a few things - many major markets currently have a glut of multifamily projects so you may be competing with large apartment complexes with amenities offering incentives in a competitive market.  If you are not in a good neighborhood, you will not be attracting great tenants and sharing a duplex with someone can be a highly stressful and unpleasant experience, especially if the structure is not truly conducive to being a duplex. When you eventually sell, your potential market is investors - this can mean many things, depending on the state of the market when you sell.  I run a group of landlords in Philly and notice many new investors getting themselves into unforeseen difficult situations. Many challenges can be avoided if you work with someone that can give you professional guidance in the market you choose.

@Graham Huber I have been invested in Philly since 2016. I agree with the excellent summary of @Stuart Udis At this moment, and note that things change FAST these days in RE, there seem to be great ROI plays to be had. The glut in new apartment inventory is definitely impacting the small multi market in some parts. In general, if you are in Philly, know Philly and take the steps to learn how to smartly invest and create a strategy, you can acquire some good opportunities. I recommend to newer investors to find good coaching. I run a large group of Philly small landlords and see the big trouble folks run into only because they lack experience and a good coach if you can find one will help you avoid costly rookie mistakes. Good luck!!

If you are looking inside Philly, check the specific area thoroughly - Philly currently has a glut of new construction apartment inventory with amenities and free rent incentives you could be in competition with. I run a very popular Philly landlord group and I see so many newbies make naive decisions that cost them dearly. I would urge you to spend a few hundred $ on some solid coaching from knowledgeable Philly investors. I know a great one who can help if you need a connection. It can be the difference between losing money and owning a winning property.

Hey @Yitzchak Eliezer ben Chanan I happen to live in New Hope and invest in other areas.  I run a large group of Philly area landlords who may have some ideas for you. Feel free to reach out for that.

@Adam Pervez  your journey so far is really impressive! I invest in my local markets  (Philly metro area, Lehigh Val - Bethlehem and Easton) as well as other states. Our strategy has evolved as markets and conditions have changed as well as our own place in life and we constantly check ourselves and make adjustments. We have the experience and time to dedicate to that. If I were 30 years younger (your age) I would look to experienced intelligent investors to help guide me. I am not offering myself but I do know someone who could help you figure out the next moves and the right strategy. He is not a guru - just a good solid very smart RE investor who loves to work with people who can benefit from his guidance. Happy to connect you if you want.

@Elizabeth Rose you have received great advice and insights here from other local Philly people. Bottomline is that you are unlikely to "win" a suit against the city and even if you did, the legal costs would be very high. Those exposed walls were not built to be exposed so I would suggest talking to a variety of experts to hear them out on the options. There are some really good contractors who can help you - and there are some who smell inexperience a mile away and take advantage.  

@Anthony S. If you are looking to build a small MF, I am happy to connect you with a GC that I think is one of the foremost small multi builders in the city. If you want to build a quality product and learn a lot.  Whether or not doing the project makes sense is another issue. So you want to work with someone who can help you figure it out. 

I have property at the edge of Lehigh U that I thought would be for students when I first started out there. i quickly realized that student housing, especially in the smaller school, is a totally different business with different expectations and requirements, not to mention yearly turnover and parent involvement. Also in Bethlehem, it requires a different type of license so check that out in Easton.

Hey @Ifeanyi Okoye  I love when people start out wanting to learn from those who have already done what they aspire to do! I run a large group of Philly landlords and one of the investors that i am friendly from there  is very successful and loves to coach new investors. Reach out if you want to get connected.