A question for Philly

Re: A question for Philly

Postby Saz » Fri Aug 19, 2016 7:27 am

What?
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Re: A question for Philly

Postby ToddStarnes » Fri Aug 19, 2016 7:53 am

The place I bought isn't in a ghetto at all. Gentrifying part of midtown that was severely undervalued relative to comps and easily hits the 2% guideline (which is like finding a unicorn so I got really f**k lucky).

In short - how dare you
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Re: A question for Philly

Postby Saz » Fri Aug 19, 2016 10:31 am

Gentrifying? Midtown has to be one of the most gentrified parts of NYC. I thought you moved to Philly my bad man
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Re: A question for Philly

Postby ToddStarnes » Fri Aug 19, 2016 10:42 am

Saz wrote:Gentrifying? Midtown has to be one of the most gentrified parts of NYC. I thought you moved to Philly my bad man

i did. it's an investment property. you don't know much about nyc btw.
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Re: A question for Philly

Postby Saz » Fri Aug 19, 2016 10:43 am

So you did move to the ghetto? Yea man I don't live in NYC and I avoid midtown because it gives me PTSD
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Re: A question for Philly

Postby ToddStarnes » Fri Aug 19, 2016 10:55 am

Saz wrote:So you did move to the ghetto? Yea man I don't live in NYC and I avoid midtown because it gives me PTSD

nah i live in philly, nice neighborhood (sorta yuppy TBH but that's okay for now).

midtown sucks except for hell's kitchen pretty much. my property is somewhere from 45-55 and 10th-11th. inarguably a gentrifying area; walk on 45th and 10th and then on 8th and 50th and you'll see what i mean. in 5 years it will all look like 50th and 9th though, which the seller really should have known. i think they inherited it and just wanted to unload it ASAP before they get property tax f**k, but still NYC is typically a seller's market and the most cursory of research into comparables in the neighborhood would have shown them what a f**k they were making. we got it at least 10% below market (though admittedly market is inflated by other speculators, but still a bargain IMO).

i also found a reno in east village that I think was 5%-7% undervalued after materials and labor but the owner was a brutal negotiator and wanted me to pick up all transaction expenses (explaining the undervaluation I guess since he was clearly no fool).
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Re: A question for Philly

Postby spacemonkey » Fri Aug 19, 2016 11:10 am

ToddStarnes wrote:
spacemonkey wrote:Many large urban areas no matter their location are turning into the landfills of humanity.

You are - as always - wrong. Urban areas in the US are by and large on the up and up.

From where do you get your information? Are your sources primarily rectal in nature?

What part of landfill don't you understand? The worst of the worst are the sanctuary cities where all the social service programs are pretty much swamped.
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Re: A question for Philly

Postby ToddStarnes » Fri Aug 19, 2016 11:42 am

spacemonkey wrote:
ToddStarnes wrote:
spacemonkey wrote:Many large urban areas no matter their location are turning into the landfills of humanity.

You are - as always - wrong. Urban areas in the US are by and large on the up and up.

From where do you get your information? Are your sources primarily rectal in nature?

What part of landfill don't you understand? The worst of the worst are the sanctuary cities where all the social service programs are pretty much swamped.

The best and the brightest generally live in cities. They always have, and even more so in recent years. People like you and ex live in the sticks.

Also generally speaking crime and poverty have gone down significantly in urban centers in the last few decades. You really know absolutely nothing do you? I've never seen somebody as poorly informed and yet so blithely confident in their own knowledge and wisdom as you, friend.
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Re: A question for Philly

Postby spacemonkey » Sat Aug 20, 2016 10:46 am

ToddStarnes wrote:
spacemonkey wrote:
ToddStarnes wrote:
spacemonkey wrote:Many large urban areas no matter their location are turning into the landfills of humanity.

You are - as always - wrong. Urban areas in the US are by and large on the up and up.

From where do you get your information? Are your sources primarily rectal in nature?

What part of landfill don't you understand? The worst of the worst are the sanctuary cities where all the social service programs are pretty much swamped.

The best and the brightest generally live in cities. They always have, and even more so in recent years. People like you and ex live in the sticks.

Also generally speaking crime and poverty have gone down significantly in urban centers in the last few decades. You really know absolutely nothing do you? I've never seen somebody as poorly informed and yet so blithely confident in their own knowledge and wisdom as you, friend.

My knowledge is accurate, cities are turning into landfills of humanity. I can't change what reality is. But to be fair, they do have some nice things, and some not so nice things.
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Re: A question for Philly

Postby NAB » Sat Aug 20, 2016 10:59 am

spacemonkey wrote:
ToddStarnes wrote:
spacemonkey wrote:
ToddStarnes wrote:
spacemonkey wrote:Many large urban areas no matter their location are turning into the landfills of humanity.

You are - as always - wrong. Urban areas in the US are by and large on the up and up.

From where do you get your information? Are your sources primarily rectal in nature?

What part of landfill don't you understand? The worst of the worst are the sanctuary cities where all the social service programs are pretty much swamped.

The best and the brightest generally live in cities. They always have, and even more so in recent years. People like you and ex live in the sticks.

Also generally speaking crime and poverty have gone down significantly in urban centers in the last few decades. You really know absolutely nothing do you? I've never seen somebody as poorly informed and yet so blithely confident in their own knowledge and wisdom as you, friend.

My knowledge is accurate, cities are turning into landfills of humanity. I can't change what reality is. But to be fair, they do have some nice things, and some not so nice things.


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