All Forum Posts by: Tarpan Patel

Hi all! We are looking to buy our first triplex in North Brewerytown- a neighborhood of Philly. Specifically, the building is by the corner of Ridge Ave and W Glenwood so pretty much as north as you can go for Brewerytown. We are confident that the hustle and bustle of Brewerytown will creep up towards us eventually, and in a couple of years, this property will be worth tons. The price of the building is a good deal but the units are all small (500-600 sq ft) and the area hasn’t quite appreciated yet so we are concerned with finding tenants. Any local professionals who can advise on the market in this area and/or the rental market? Thanks!

@PJ M. Do you know if there are any companies that offer a service to be your “local agent”? I am located in DE so only a short drive over and do frequent Philly quite often. I see the FAQ you posted earlier says the local agent must have a Philadelphia address that they regularly use. Would it suffice to setup a local P.O. Box in my name since I am there often?

I also had the same question and just checked out signrequest.com. It looks great! And it's free for the first 10 docs per month. That perfect for a smaller investor like myself. Thanks for the suggestion!

Hey guys. First-time poster here would like to share my story and ask for some guidance. 

Back in 2007, I moved up to Western New York to work in the hospitality industry. While that was going on, I quickly learned that I like renovation/construction more than I did like operations. My wife and I started flipping houses last year and so far we have done three of them with various levels of profit. We are quite happy with the business model and our ability to get them done. 

We have now decided to make a move to a city close to where our parents live so that we may be near them and allow our newborn to be near her grandparents. We picked the Philadelphia Metro area, specifically a 40-mile radius around the city for our move. Ideally, we would like to continue flipping houses to the point where we can use the profits to purchase a small multi-family property and then grow from there. 

I have reached out to a few brokers in the Philadelphia area but I wanted to reach out to our community to see if anybody had any pointers. I am trying to figure out where I should focus my efforts on flips. If in the city itself, what part? 

In Western NY, things are pretty straightforward as the assessed value is usually the sale price. Therefore, we focused on foreclosures. In the Philadelphia area, the assessed values are substantially lower than the comps. In the beginning, I would love to hook up with a wholesaler and not have to dig through the trash to find a deal. 

Any help would be appreciated. If I can help anybody, please let me know. We have done 3 flips now and do know the model here in Western NY. 

Thanks

Tarpan