Selling a development opportunity in Ball Square

I don’t see a ton of development plays in Ball Square. More typically the question that does arise here is does it make sense to condoize my 2-family or 3-family. And sometimes it can make sense to turn your Philadelphia 2-family into two larger units, gut renovate them and sell them. But you really have to be a unique person who:

1. Has enough equity or cash on hand for a major renovation - typically many hundreds of thousands of dollars

2. Has enough experience with construction to do the work (I can help with this, as I have my own team of contractors I regularly work with)

3. Has enough cash reserves to wait many months with no rental income coming in

4. Has the stomach to do work on a property where you won’t know exactly where the condo market will be many months down the road when your work is complete

So as you can, what I am describing above is a unique person with a unique set of experiences and financial situation. But if you are reading the above and saying yup, yup, yup, and yup, then this could be a route you consider. If you’d like to chat through condoizing your property in Ball Square or otherwise selling it as a development, give me a ring at 617-833-7457!