All Forum Posts by: Tom Linnik

So im thinking of purchasing a beat up condo somewhere in the Northeast Philadelphia area to rehab and live in. I dont wanna buy a house hack as of right now due to crazy prices over there. just wondering if anyone lives in Condos around the area or Condo living in general. would it be a wise first purchase? I found beat up ones for around 40k. HOA around 250 a month. Any advice would be appreciated. Thank You!!

Not a great experience with the philly branch. Most are not "deals". They are on the mls before they get them and add their 5k fee to it. Be careful with them. Not great to work with.

Hey Philadelphia. I have recently purchased my first two flips in the Point Breeze area. I am partnered up with my cousin, he is the money guy and I am the Project manager and day to day. I am looking to connect with contractors for every area of the flip itself. Looking to get a lot of bids so please contact me if you can be of help and are looking for work. Thank you, I apologize if this is on the wrong forum in advance. 

Philadelphia, 19145, 19146, PA, philly

Also looking to purchase properties with cash so let me know if you have any. thanks!!

If you alone are discouraging yourself, you really aren't in the right business. Im 21 years old, in college, getting my RE license on the side, and worked construction in the summers for the past 4 years learning everything i could about RE investing. Im finally JUST NOW getting house flips and investors to trust me with their money. Philly is a relatively hot market and every experienced wholesaler will tell you its hard to find deals... you have 8500 saved up?! how long can you live off that frugally? because i took only 3 days off work and walked as much of a hot neighborhood as i could where i was stopped and people told me theres no deals here. From 3 days of walking I wrote down 240 address, found the owners and sent letters to each one. 7 got returned, and i got 3 people to call me back. I potentially have only 2 deal in the works. And i consider that an amazing week.  If you take a whole month to do just that you might get a deal and it will be all worth it. Drive and walk everywhere you can. Don't buy lists, get genuine leads that no one else is willing to walk for. Thats how you get started....

Get your RE license. Don't Watch Tv. Read Books that will change your thinking from "Theres no deals here to I will find that one that someone missed"

Asses your life to see how much crap you can cut out of it.

Sounds good, i recommend Kaplan University online. I do my RE License stuff at night in my spare time when I am not busy with school work. Gives you 6 months of time to complete the courses and lets you go at your own pace. I wanted to get CAD certified but am holding off for now. I will be in Philadelphia in early May and will be working on the houses in South Philly. Lets meet when I get back.

Hey, I am somewhat new to this as well but am buying one flip currently and looking to buy a few more to flip this summer. Im in college in Florida right now but would like to sit down and chat when im back in May. Im very interested in Architecture and wish i had went to school for something RE related. Would love to find out about what you are studying in terms of developing. That is the goal for me, to get into new construction and commercial real estate. I have experience in Rehabbing and am working on my RE license.  Feel free to reach out.  

Anybody know the general rehab costs per sq ft? Flipping in the 19145, 19146 area. Also looking for contractors specifically for the exterior(rowhome type), electrician, plumber. Let me know! Thank you.

Yes I would love to find a duplex in certain Philly areas for 120k but even places like Somerton and such are at all time highs. And you really need to refine exactly what zip codes you are looking at. Philly is too big to have an agent just look for that criteria. 

Me and my partner recently came to an agreement with an investor we have been working for for some time. We came to an agreement we would work in a parntership with him flipping houses. The way we did it was where the investor would pay for the house and all expenses and material. Me and my partner would do all the work and when the house sell we would split the end profit 3 ways equally. I was wondering what type of contract we should write up or if a lawyer should be used. We have a good trust with him but would like to have it in writing just in case. We are already working on our first flip so any contracts or advice people have would be greatly appreciated! Thank you.

ok thanks