Philadelphia Real Estate Investors
Anybody in here who invest in the City Of Philadelphia. What are some of the best ways to market in the City. Everyone has the "WE Buy Houses" sign. Does any else have any other investment techniques that set from the rest.
There is a Real Estate Investing Group in that area. I know several people who go to it. I flew out there in the spring. The people were very nice and helpful. They really help new people to invest in all kinds of properties. I was really impressed by their presentation. Steve Lloyd is the contact person for the meeting. You can call him and go check it out. His number is 610-299-3503.
Laurie
[addsig]
I live in the area and I can tell you flipping is almost dead here because they over built to much to fast and are still flooding the market with to many new units above what is coming to buy here. Making some places reduce prices. IN the long term investment here will be great like the price appreciation of other beach towns this town will appreciate greatly over the years. You could buy cheaper preconstruction but they can go bankrupt as some are or you might not be ableto resell, so unless you can handle holding it for 2-4 years you might want to reconsider your strategy.
As a long term investor I bought low and held on and have made 22-23% avg appreciation the last 13-14 years.
With the new international airport and construction this level of return will continue over the years like all FLorida especially beach areas do in time. To risk all on quick money might blow up in your face, greed tends to do that.
Thanks for the info...you might have just saved me a bunch of money.
Since this area is almost dead and the market is flooded, do you know of any areas in the country that is just starting up or still hot?? I would like to invest in precon somewhere in the US.
Thanks, Jeremy
Where can I get this new condos to buyers ratio... from the realtors down there??
Yeah the realtors are supposed to know how many units are available, as far as ratio to buyers they might have that number as well, regarding how many people purchased.
If you are only dealing in preconstruction condos then stick with just condo figures since houses move faster then condos because there is less available new homes compared to people shoping for them.
You can also ask the realtor how long things are taking for them to sell. But you have to ask many realtors to come up with one honest answer. *L*
I ended up reserving a unit. It goes to contract Mid - End November. Its right next to the water. I have it reserved for $342,270 for a 2bd 2ba 1163 s/f w/ a balcony. Its building K-101B. Its on the first floor on the corner. It is still not too late to back out of the deal. I just would like to know if this is a good price for the unit described. If you have time check out the unit and tell me what you think. Who may know what the comps are per s/f around here??
http://pricemorgan.com/opportunities/seclusion_bay/index.php
Thanks, Jeremy