All Forum Posts by: Zack Hawkins

I'd second what Max said. Owning these remotely would especially be difficult, between tenant turnover, the frequency of vacancy and squatters in the area, and the continuing heroin epidemic there (hence why the forfiture rate was as high as it was anyway).

That being said, Shift Capital is already in the area investing millions in mixed industrual/commercial/art spaces, and allegedly owns over 150 residential parcels in their portfolio... so they would be the ones to talk to regarding remote property management. 

Adding a third story can make sense economically, but like with new construction theres a lot of hurdles to jump This article addresses that pretty well:

https://www.phillymag.com/property/2017/11/18/rowh...

New construction is going to cost you at least $300k in construction costs, not including the acquisition, holding costs and other soft costs.

Is this still available?

Norris square park is ripe for future development, but may be difficult to get construction financing with no new comps. There are some new townhouse being built at the intersection of Howard and Montgomery for $500k+. How many parcels?

@odieayaga when is your next brewerytown meeting?

Jason, What scale and type of investment are you seeking? I work in point breeze myself and am beginning some new home construction next month.

Joe, This was a great event. Do you have any plans for something similar in the future?

Stephen, There’s a lot of new residential development in that area being backed by the Riverwards Group, amongst many others, with commercial slowly gaining traction. Are you buying as a rental or to live in?

Write it into the contract/specifications. Withhold payment until they comply.

Alex, Welcome to biggerpockets. While you and I are at similar places when it comes to real estate, I've got a background in construction management. I'd love to hear more about your investment strategy, let me know if you need any insight into the construction side of things.