Money Talk....

socapineman

JA Soca Ambassador
Word, you live and learn. My biggest regret was that I ran out of Brooklyn and not buy a multi-family or 2. I coulda be a slum lord taking away dem Manhattan yuppies money every month.
If it makes you feel any better... you , me...and numerous ppl in BKLYN, who now see what the hell is happening in BK is full of regrets....lol, I would love for them to come and buy me out on Atlantic Ave...where they are planning to build the new stadium...
 
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deoriginalrudeboy

Registered User
close to home ...you can't go wrong in Philly ( North ) South Philly is on lock already...the blacks sold out already...talking about Graduate Center... The best bet now is north of Center City or north of Temple Uni.
The few blacks who live there? Italians and Asians are the majority of South Philly.

Depending on how far north I could see a profit. Maybe around Olney or even closer to the Montgomery County Line, perhaps even going into Germantown I would think real estate would be profitable. If you're talking about around Cecil B Moore, and Diamond Street, you have a great majority of crack feens and addicts in that area. I wouldn't recommend it to any1; however if you're making a substantial profit and it's lucrative for you, more power to you.
now i am in North Philly, buying 4 to five 5 bdrms one family for $45- 55k, fixing them up and ...if you interested...link me... these are close to Temple...or one or two blocks off Broads street...South Philly is now taken back from the blacks....just a year ago a dump was going for 100k, you are looking a min of 400k for that same property today !


South Philly now look like Park Slope or the Villlage .
You mean the ghetto? That part of North Philly is a rough area.
It's so depressing and sad, yet the people are content in living in that type of environment.
Seeing as I go to Temple and know the area pretty well, I will firmly say that the homes in that area are just disastarous.
I'm not too real estate savy, but how profitable are homes in that area?

Also, I don't quite understand your comment regarding South Philadelphia; "Taken back from the blacks." South Philly was never/is not a predominately Black area. Bare Italians down there. Southwest, yes, south no!!!
I would imagine higher priced homes in South Philadelphia, the area is definetely a step up above North and certain parts of West. A lot of wealthy Italians live down there.
 

socapineman

JA Soca Ambassador
The few blacks who live there? Italians and Asians are the majority of South Philly.

Depending on how far north I could see a profit. Maybe around Olney or even closer to the Montgomery County Line, perhaps even going into Germantown I would think real estate would be profitable. If you're talking about around Cecil B Moore, and Diamond Street, you have a great majority of crack feens and addicts in that area. I wouldn't recommend it to any1; however if you're making a substantial profit and it's lucrative for you, more power to you.


You mean the ghetto? That part of North Philly is a rough area.
It's so depressing and sad, yet the people are content in living in that type of environment.
Seeing as I go to Temple and know the area pretty well, I will firmly say that the homes in that area are just disastarous.
I'm not too real estate savy, but how profitable are homes in that area?

Also, I don't quite understand your comment regarding South Philadelphia; "Taken back from the blacks." South Philly was never/is not a predominately Black area. Bare Italians down there. Southwest, yes, south no!!!
I would imagine higher priced homes in South Philadelphia, the area is definetely a step up above North and certain parts of West. A lot of wealthy Italians live down there.

LOL, man don't make me laugh, for 45k to 50k what do you expect ? much less, i am not planning on living in Philly no time soon....what do you call South Philly, I own a two family right there on 22nd Christian St.... what do you call that area ?

Also, I am talking about above Washington Ave. up to Bainbridge St...what you are telling me that Blacks weren't the majority there about about two years ago ?


I see no differences in South Philly , that is heading south below Washington Ave....it is a war zone and a dump!


Also, I ain't trying to rip you and all...since you a college man and all....but it don't take a rocket scientist to drive up and down on Broad st or North Philly and see who is buying up the properties...., if you don't know, it is Temple Uni and , a lot of outsiders , much less, Trump is putting up a casino in North Philly, if I recall they didn't vote him down yet.
 
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socapineman

JA Soca Ambassador
The few blacks who live there? Italians and Asians are the majority of South Philly.

Depending on how far north I could see a profit. Maybe around Olney or even closer to the Montgomery County Line, perhaps even going into Germantown I would think real estate would be profitable. If you're talking about around Cecil B Moore, and Diamond Street, you have a great majority of crack feens and addicts in that area. I wouldn't recommend it to any1; however if you're making a substantial profit and it's lucrative for you, more power to you.


You mean the ghetto? That part of North Philly is a rough area.
It's so depressing and sad, yet the people are content in living in that type of environment.
Seeing as I go to Temple and know the area pretty well, I will firmly say that the homes in that area are just disastarous.
I'm not too real estate savy, but how profitable are homes in that area?

Also, I don't quite understand your comment regarding South Philadelphia; "Taken back from the blacks." South Philly was never/is not a predominately Black area. Bare Italians down there. Southwest, yes, south no!!!
I would imagine higher priced homes in South Philadelphia, the area is definetely a step up above North and certain parts of West. A lot of wealthy Italians live down there.


Oh...by the way... just to give you a heads up... what you are telling ppl, is the same thing they were saying about Harlem up to 3 years ago... let someone try to buy something there now...short of extortion !
 

Redlocks

Mr. BALTIMORE
Here are a few financial tips:

Live within your means.

A new car is not an investment, unless it is a taxi or
a limo.

If you are looking for a financial planner, find one who
earns a fee for working for YOU, not a commission on
stocks, funds, etc. that you purchase.
 

iPicong

New member
Never really been to Philly. My question is what is the attraction to make real estate really boom down there like NYC.
 

socapineman

JA Soca Ambassador
Never really been to Philly. My question is what is the attraction to make real estate really boom down there like NYC.
Good question....


The same formula that has worked in the past in such places as DC, Baltimore, Fort Green , Harlem, Washington Heights,etc... ppl get priced out around the surrounding areas, so the next best thing is to go block by block and take it away from the poor. Now, most of these developers who got priced out of NYC are heading north of NYC, or West of NYC such as Philly....



How I came across this is that a master contractor friend of mines about three years ago was working for one of these Dev. in Philly on Spruces St. converting 3 and 4 families into condos and selling them each for 350k for a one bedroom condo.... I couldn't believe him.... so I went to see for myself, sure enough, all the whites where buying out all the blacks now, I call it South Philly, that is anything south of Center City, I call it South, anything North of that, i call it North Philly...with that said, i was only interested in properties in Walking distance to the city of Philly.....




So I more or less make a deal with my boy to buy a building for him in North Philly ( 5 bedroom 3 floors, brick, 30k ) , W Glenwood Ave, two block in from Broad St...and he would fix up one for little or nothing... another property for myself....so I decided that even thou North Philly was cheaper...I wanted to buy where the whites were moving back too....trust me...over night it seems like the prices went up two folds when i decided to join the party....anyway, I couldn't buy anything close to Spruce St... so I went over like ten blocks west to 22nd street, which is now borderline Graduate Center


http://en.wikipedia.org/wiki/Southwest_Center_City


I paid 150k, not even two years, you are looking at 450k plus....


But, I realize that Temple UNi is buying out almost everything in site between Temple and more north of Broad St...Temple Hospital...., common sense kick in, clearly, Temple Uni is not moving out of Philly anytime soon....so I decide that I will buy in the war zone...note I call it a war zone because ghetto is too nice of a name to give those areas.... but at 40k- 50k, I have all the time to wait....that is it...all about having the vision....NYC, missed me, to some degree, but thanks to my boy, I wasn't letting this get away....it was and still is priced right !
 
S

sharkie

Guest
by the time i turn 20, i trying to have at least around 8 g's saved to sit and collect interest. something i wouldn't touch till i turn 60-ish. all the money won't go there though, i'm thinking maybe 4-5 g's. right now i following the stock market and trying to get more education on what kind of portfolio i'd like to invest in and possibly get some treasury bills as well, seeing as they are pretty low risk.

thanks for the info though, nice thread.
 

deoriginalrudeboy

Registered User
LOL, man don't make me laugh, for 45k to 50k what do you expect ? much less, i am not planning on living in Philly no time soon....what do you call South Philly, I own a two family right there on 22nd Christian St.... what do you call that area ?

Also, I am talking about above Washington Ave. up to Bainbridge St...what you are telling me that Blacks weren't the majority there about about two years ago ?


I see no differences in South Philly , that is heading south below Washington Ave....it is a war zone and a dump!


Also, I ain't trying to rip you and all...since you a college man and all....but it don't take a rocket scientist to drive up and down on Broad st or North Philly and see who is buying up the properties...., if you don't know, it is Temple Uni and , a lot of outsiders , much less, Trump is putting up a casino in North Philly, if I recall they didn't vote him down yet.
You're not "ripping" me b/c I know what I'm talking about when it comes to the demographics of Philly. I also have stated earlier that I'm not real estate savy, which is why I asked you if your business venture in North Philly was lucrative, given the area.

I don't know how LONG you've been coming to Philadelphia but SOUTH PHILLY was NEVER predominately black. You may have clusters of blacks here and there which make you believe its black, but it's not. You're seriously talking about Bainbridge to Washington being black? I guess it depends on which part of the area you're in, b/c around 22nd st. does have blacks, but if you continue going further down from Broad to Front St. or even Colombus Blvd. then South St. down passed the Lincoln Financial, it's not predominately black. You're speaking about a specific cluster of South Philly, the MAJORITY was never black.

How familiar are you with Philadelphia btw?

Exactly what is your point about Temple buying up property? How is this pertinent to my question on how lucrative real estate is in N.P? Too answer you though, I only recall Temple constructing on a very small portion of the area, adjacent to the campus. They are no different from St. Joe's who did the same on City Line, nor Drexel and Penn who did the same in Center City. It is not like they're buying up everything as you put it. In the past two years out of the four I've been going there, they have only built two sets of dorms. The one being built now was a vaccant lot and the others, two blocks behind were rundown unoccupied homes. The major construction is on campus, and not affecting the city.

As for Trump, nothing has been decided. It's all talk as of now. Trump and Street can say whatever they want, until it actually starts developing, I'll believe it. 1st off they need to find a central location for it, and 2nd if in fact it is coming, it won't be for a long time; Philadelphia lags on things like this. It took them over 10 years to finally start construction on Market. St with the L.
Back to the casino, I know alot of folks in that area are hesitant to the idea, claiming how it would promote a bad atmosphere, whereas John Street is saying it will help ween out the bad stigma North Philadelphia has attatched to its name. :dntknw: :dntknw: Certain parts of that area needs help in a positive way bad.
Oh...by the way... just to give you a heads up... what you are telling ppl, is the same thing they were saying about Harlem up to 3 years ago... let someone try to buy something there now...short of extortion !
Philadelphia unlike New York has a lot of problems right now so until I see those problems resolved, I can't foresee North Philadelphia changing in the very near future. Maybe down the line, but not for a good 10+ years. Crime has increased by 115% if not more in 2006. It's bare red in Philadelphia, with triple murders, shootouts, armed robberies, and rapists. Philadelphia has issues to sort out first before developing any area. Maybe if Rendell was still in office I could agree that Philadelphia would be improving. I'm not a politics man, but John Street blows alot of hot air and makes a lot of claims. He's currently planning on making Philadelphia the 1st city to be completely wireless. I wouldn't hold my breath waiting for that day.
Anyways I don't live in Philly, I'm a suburbanite, so I could care less.:tongue: :tongue:

Anyways my trip back to imix is complete...Good luck with everything. If Philly does take off like that, Destra and I may decide doing business with you. lol.
 

deoriginalrudeboy

Registered User
so I went to see for myself, sure enough, all the whites where buying out all the blacks now, I call it South Philly, that is anything south of Center City, I call it South, anything North of that, i call it North Philly
Poor ting. Just calling it north and south....:rofl: :rofl:



So I more or less make a deal with my boy to buy a building for him in North Philly ( 5 bedroom 3 floors, brick, 30k ) , W Glenwood Ave, two block in from Broad St...and he would fix up one for little or nothing... another property for myself....so I decided that even thou North Philly was cheaper...I wanted to buy where the whites were moving back too....trust me...over night it seems like the prices went up two folds when i decided to join the party....anyway, I couldn't buy anything close to Spruce St... so I went over like ten blocks west to 22nd street, which is now borderline Graduate Center

Thats at the edge of South Philly holmes, right near Southwest, so I would expect blacks to be around there, but again the majority of south ain black.



http://en.wikipedia.org/wiki/Southwest_Center_City





But, I realize that Temple UNi is buying out almost everything in site between Temple and more north of Broad St...Temple Hospital...., common sense kick in, clearly, Temple Uni is not moving out of Philly anytime soon

Moving out....:rofl: :rofl:
You do know how long Temple U has been established in that area right? You do know it does have more than one campus? If you buy in EXTREME close promximity to the university and the hospital which is 2miles apart, you have a good chance that Temple may approach you for your land; however if you're talking about North Philly itself....I wouldn't recommend it. You would have to be in good location for them to approach you, which is on Broad or a block off of Broad.

....so I decide that I will buy in the war zone...note I call it a war zone because ghetto is too nice of a name to give those areas....
:rofl: :rofl:
This is why I proposed the question to you on how lucrative it is, but you never answered me. That area is straight sad.
...
 

deoriginalrudeboy

Registered User
THAT WAS MY TAKE...NOW THE REAL DEAL....EXCELLENT ARTICLE !


let me know what you think about the article ...

http://www.philadelphiaweekly.com/view.php?id=8851
Some points in that article was true some not so true.
The north Philadelphia they're talking about, near Poplar and Fairmont park is 10 mins. from Center city and the art museum. That area was never bad nor the brunt of North Philly. Whites moving into that small portion of the area is totally true and that's because of its close promixity to the Ben Franklin pkwy and Center city. Now if you are to talk about Girard and north, that's the heart of North Philly.
Again, Temple isn't buying up anything as that article says. A new parking lot at the hospital and two dorms on the main campus is nothing noteworthy. Temple's campus has always been nice, so if they're trying to portray an image where North Philly is changing b/c Temple has built some things, I wouldn't go off of it. When you step into the 5 or 6 blocks of Temple you're in a different realm, and it has been that way for the longest.

North Philly is the pits..
I feeling to take some pics so people actually know how bad it is 5 mins off of Temple's campus.
 

socapineman

JA Soca Ambassador
I am glad you find this funny...it always the ppl with a lack of vision that can't see the big picture....but one thing you are right about is that you have no vested interested in NP.....So it is really no need to continue with this...


But, to answer your question, I am smart enough to know where to buy in NP....btw, if you didn't notice , I said W Glenwood which is right between the hospital and Temple...



My point in pointing out ( shaking head ) that Temple is not moving ...is that Temple is in business to make money, and as you know, two blocks off Broads street is a war zone.....so any fool with common sense....know that Temple Uni won't move....they have no choice but to invest in the area if they want parents to send their children there.....that was my point, so common sense will tell you that the prices around the Uni will go up.



but either way.... if it is not for you it is not for you...it's all good....



....

As for me in NP, or as i stated I call it that..... the property on Mongomerty St and Broad St is rented to someone that attend Temple....

the other two buildings on W Glenwood is being worked on as we speak....

So all is going well....



The one in SP, more than double my investment....within 2 years....




How long in Philly or what I know about is ...is really minor...because the important thing is that i am making $ vs wishing and hoping... I am in the mix on the battle field !
 
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deoriginalrudeboy

Registered User
I am glad you find this funny...it always the ppl with a lack of vision that can't see the big picture....but one thing you are right about is that you have no vested interested in NP.....So it is really no need to continue with this...


But, to answer your question, I am smart enough to know where to buy in NP....btw, if you didn't notice , I said W Glenwood which is right between the hospital and Temple...



My point in pointed out ( shaking head ) that Temple is not moving ...is that Temple is in business to make money, and as you know, two blocks off Broads street is a war zone.....so any fool with common sense....know that Temple Uni won't move....they have no choice but to invest in the area if they want parents to send their children there.....that was my point, so common sense will tell you that the prices around the Uni will go up.



but either way.... if it is not for you it is not for you...it's all good....



....

As for me in NP, or as i stated I call it that..... the property on Mongomerty St and Broad St is rented to someone that attend Temple....

the other two buildings on W Glenwood is being worked on as we speak....

So all is going well....



The one in SP, more than double my investment....within 2 years....




How long in Philly or what I know about is ...is really minor...because the important thing is that i am making $ vs wishing and hoping... I am in the mix on the battle field !
Dude, I'm laughing at how you classify Philly as just north and south. Furthermore, it's not about seeing a bigger picture, I am a realist who lives in the area. Your vision is great, but as a person who has years in this area, the reality of it is something I cannot see in the near future. I wouldn't say how long in Philly or what you know about it is minor, seeing that you're telling people about how good the investment in the area is. How are you going to advise others when you're not completely sure on the demographics or where one area starts and one ends? Knowing the trends of the city and the people who live where I would classify as vital information.

Temple is investing how in the area? Other than the two dorms adjacent to the Liacorus center, what big buying out and investing are they doing? People from all over have sent their children to Temple knowing the type of area. In the past ten years what has Temple invested in or done, opposed to the two dorms newly built, that has significantly changed the area or the quality of the area? Like I said, the major construction is going in within the campus, not outside.

I can kinda see what you're saying about buying property close to Temple, seeing as college students and fraternities/sororities are always looking for a place to rent out. I would say buying in close proximity to Temple or any college in Philadelphia would be profitable. I didn't know where you were renting out in NP which is why I asked what I did and said I wouldn't recommend it. The area you chose I would say is a good investment location, targeting college students.

Glad to hear your investments are doing well btw.
I would def. suggest you going near Drexel and Penn as well. Alot of those homes can be bought out and turned into a nice profit. If you want more info. and specifically where, you can send me an email.
 

socapineman

JA Soca Ambassador
Dude, I'm laughing at how you classify Philly as just north and south. Furthermore, it's not about seeing a bigger picture, I am a realist who lives in the area. Your vision is great, but as a person who has years in this area, the reality of it is something I cannot see in the near future. I wouldn't say how long in Philly or what you know about it is minor, seeing that you're telling people about how good the investment in the area is. How are you going to advise others when you're not completely sure on the demographics or where one area starts and one ends? Knowing the trends of the city and the people who live where I would classify as vital information.

Temple is investing how in the area? Other than the two dorms adjacent to the Liacorus center, what big buying out and investing are they doing? People from all over have sent their children to Temple knowing the type of area. In the past ten years what has Temple invested in or done, opposed to the two dorms newly built, that has significantly changed the area or the quality of the area? Like I said, the major construction is going in within the campus, not outside.

I can kinda see what you're saying about buying property close to Temple, seeing as college students and fraternities/sororities are always looking for a place to rent out. I would say buying in close proximity to Temple or any college in Philadelphia would be profitable. I didn't know where you were renting out in NP which is why I asked what I did and said I wouldn't recommend it. The area you chose I would say is a good investment location, targeting college students.

Glad to hear your investments are doing well btw.
I would def. suggest you going near Drexel and Penn as well. Alot of those homes can be bought out and turned into a nice profit. If you want more info. and specifically where, you can send me an email.


No problem...


I am only interested in spots close to or around the city...so Center City is my benchmark for N&S. as foolish as it might sound to you.

but, a lot of ppl in NYC now, would give anything to have the vision to buy a property five years ago ...just to live in , muchless rent out.


I went to City College in NYC, they also said the same thing about Harlem....now folks can't go into Harlem to buy unless you have 800k-1.5 mil. my point is that things change....might not be overnight for NP, but that too will change...... a least in my opinion.....


But I'll keep your suggestion in mind.


Thanks.
 

small_island_descent

Registered User
by the time i turn 20, i trying to have at least around 8 g's saved to sit and collect interest. something i wouldn't touch till i turn 60-ish. all the money won't go there though, i'm thinking maybe 4-5 g's. right now i following the stock market and trying to get more education on what kind of portfolio i'd like to invest in and possibly get some treasury bills as well, seeing as they are pretty low risk.

thanks for the info though, nice thread.
Jail bait!

I like that financial plan though.
 

socapineman

JA Soca Ambassador
http://www.elitetrader.com/br/



See for yourself, hands down the best info on the web if you looking to make money in the FX or equity markets .


My equity acct is with Genesis Securities, I trade Forex with Gain Capital/



Excellent forums...check it out inputs from pros in the mix, on the battlefield getting their face dirty, not just looking in !
 
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