Freedom Found Investments, LLC seeks funding to acquire and rehabilitate existing abandoned homes known as row houses in the city of Philadelphia, Pennsylvania. These row houses can be acquired for as little as $10,000 each and resold after rehabilitation for anywhere between $100,000 to $400,000 each depending on various factors. Freedom Found Investments, LLC is confident that we can rehab for as little as $50 per square foot to keep our rehab costs low and increase our profitability at resale.
In Philadelphia there are over 200,000 abandoned homes and a portion of that is Brewery Town, a central, urban neighborhood adjacent to Center City, Philadelphia. There is a need for urban housing there right now because the Philadelphia job market is growing and creating a need for people to want to live in the city close to where they work. Philadelphia is also a major hub for other Eastern Seaboard Cities such as Boston, Baltimore, Washington D.C., and New York. Completion of acquisition and rehab to the exit strategy of selling the property is approximately 90-120 days, with an 8-12 week period for the actual rehab. We have the man power to rehab approximately three dwellings at a time. We have an extensive supply of properties to go after, so you will have some choices depending on what we currently have under contract. We would like to keep our properties as close together as possible, the most ideal situation would be to buy a complete block at once. I would also encourage you to take a trip to Philly and see the work we do. The following links below will help you get a clear view of the opportunity we see in philadelphia. Please do your own research as well, I am sure you will see the opportunity that we see. Here is the link to the project the city of philly is doing. It is in the same neighborhood where we want to rehab homes. The city openly solicits private funding for the project as the city has little funds of their own. It is an excellent example of what community reinvestment can do as parts of it are already completed and thriving. http://www.philaplanning.org/plans/nbplan.pdf
Here is a link to the Westrom development of townhomes built right in the heart of brewery town, I will also email some pictures I took so you can get an idea of how close they are to where we are going to rehab. This Westrom community won the Sustainability Award. It is also notable that these town homes sold out at over $275,000 each and are now reselling at over $400,000 each.http://www.philadelphiasustainabilityawards.org/nominees/brewerytown
Here is an interesting link to an article describing the history of brewery townhttp://pabreweryhistorians.tripod.com/grandaddy.htmas well as here is another interesting article in wikipedia about brewery town and its growth in recent years. http://en.wikipedia.org/wiki/Brewerytown,_Philadelphia,_Pennsylvania
At the end of North Broad Street at the Delaware River waterfront, Donald Trump is building his condo towers set to open in late 2008. There is also going to be a casino somewhere near the waterfront.http://trumptowerpa.com/
Here are some city statistics, if you scroll down the page, and click on the zip codes, 19102 is an interesting snapshot of the north broad street/brewery town area.http://www.city-data.com/city/Philadelphia-Pennsylvania.html
Tuesday, July 1, 2008
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