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All Forum Posts by: Sheryl Sitman

Sheryl Sitman has started 31 posts and replied 419 times.

Post: Hello BiggerPockets! New PRO here

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

Welcome!  Lots for you to do and learn in the Philly market. Good luck.

When you eventually become a landlord, look for our FB group Philadelphia Landlords Connect :-)

Post: Looking for a GC for a flip (Drexel Hill)

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

I don't do flips myself but  one of the contractors i use churns them out fast. I saw this one he did last month and it went under contract 5 days after it was listed. https://www.zillow.com/homedetails/4413-Oakmont-St-Philadelp...

Reach out if you are interested. 

Post: Looking for properties

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

@Nicholas Williams when you say you are having trouble finding deals do you mean you do not know where to look or that the deals you find do not pencil out?  There are many FB groups for wholesaling and investor groups that share deals.  I run a large group of small landlords and have a Philly landlord podcast so occasionally a deal falls in my lap. feel free to let me know what you are looking for and join the man y FB groups in the region. Of course working with a savvy investor agent can be helpful as well.

Post: New Home Builder in the Philadelphia market

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340
Quote from @Mark Sherlock:

Just relocated from the Bay Area to the Philadelphia market, working for a real estate developer in Land Acquisition. Would like to connect with other investors in the area, as well as agents, that work on SF tear-downs (or land) for redevelopment opportunities. Looking forward to learning and connecting with you all!

Welcome to Philly! I run a very large "landlord" group and am  well networked. I could possibly connect you to some good folks. Feel free to reach out!

Post: Looking for a less volatile market for my first investment property

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340
Quote from @Robert Ellis:
Quote from @Sheryl Sitman:

@Saeed J. 
Since 2008, Philadelphia's housing market has shown steady, moderate growth, avoiding the extreme price swings seen in more volatile markets like San Francisco, Las Vegas, and Miami. Home prices in Philadelphia have appreciated at a consistent rate of 3-6% annually, providing a predictable environment for investors. The city's diverse economy and relatively affordable home prices contribute to its market stability. In contrast, volatile markets experience significant price fluctuations due to economic sensitivity and high levels of speculation, leading to potential affordability issues and market corrections. Philadelphia offers lower risk and more predictable returns, making it a stable choice for long-term real estate investment. Additionally, there is current optimism with the new mayor, who is focusing on economic development and infrastructure improvements and literally cleaning the city block by block, further enhancing the city's investment appeal.


 miami doesn't have huge swings it's had 12 years straight of appreciation 


True

Post: Looking for a less volatile market for my first investment property

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

@Saeed J. 
Since 2008, Philadelphia's housing market has shown steady, moderate growth, avoiding the extreme price swings seen in more volatile markets like San Francisco, Las Vegas, and Miami. Home prices in Philadelphia have appreciated at a consistent rate of 3-6% annually, providing a predictable environment for investors. The city's diverse economy and relatively affordable home prices contribute to its market stability. In contrast, volatile markets experience significant price fluctuations due to economic sensitivity and high levels of speculation, leading to potential affordability issues and market corrections. Philadelphia offers lower risk and more predictable returns, making it a stable choice for long-term real estate investment. Additionally, there is current optimism with the new mayor, who is focusing on economic development and infrastructure improvements and literally cleaning the city block by block, further enhancing the city's investment appeal.

Post: Which city would be the best investment for 2024

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

The absolute best city or town to invest in ( do not get stuck on the notion of investing in major metros or you will miss out on many interesting opportunities) is . . . the one where you have a team you can trust, where you are able to learn the market and its nuances and get to a point where you are comfortable doing business there because you know how things work and what the market requires for success. Focusing on the "landlord friendly" state concept is wrong - clearly many successful investors continue to invest in what can be labeled as non landlord friendly states.  There are challenges everywhere for different reasons -- weather, building codes, tenant culture, competitive market, high cost of labor.  Look at your investment decisions holistically.  It's as easy to fail or to run into problems in the "friendly" states as it is in the "unfriendly" states. And possible to succeed EVERYWHERE. I do not know the markets you mention, but wonder how numbers could work today in a very mature market like Nashville with a current seemingly high vacancy rate due to lots of development in recent years. Good luck!

Post: SWFL Update - Cape Coral, Ft Myers, Lehigh, Naples

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

@Adam Bartomeo curious as to what you see happening in Cape Coral in the long run.

Post: How can I find the builder for a particular house?

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

@Hans Baum What @Kevin M. has suggested is on spot. In Philly, you can find out just about anything about a property / zoning / permits online. I will caution that what you can not know is whether that builder actually did a good job and how he did the work (his own crew or subs for example). I run a large group of independent landlords and we share lots of stories and info exchanges about working with contractors. As you may imagine, there are good and bad and you can not tell by the pictures you see. In addition to the workmanship, you want to work with someone who is good at managing time, people and his relationship with you, his client :-)    We are actually building out a network of approved contractors because one of the biggest pain points investors and landlords face in Philly is finding reliable solutions.  Good luck!!

Post: Out of state investor looking for investor friendly agent

Sheryl SitmanPosted
  • Rental Property Investor
  • Philadelphia, PA
  • Posts 431
  • Votes 340

I run a group called Philadelphia Landlords Connect and know a few good agents that primarily work with investors. DM if interested.