Commercial RE 101: Any suggestions

[sdrealtor]

Brian
Did you actually say “Philadelphia is very immigrant friendly”. If you did you seriously have your head up your….

The primary reason I left Philly is because people there are very closed minded and EXTRAORDINARILY prejudiced. You may think it is otherwise but I lived there and grew up there. I know many of the old families with wealth many generations deep. I know far more people there than here and if there is one thing I know its Philly people. On the surface they may not seem so but I know the conversations that go on behind your back and they are horrific. I couldnt bear to live in a place like that anymore so I left. Calling them immigrant friendly is bizarre to say the least.

[briansd1]

[quote=sdrealtor]Brian
Did you actually say “Philadelphia is very immigrant friendly”. If you did you seriously have your head up your….

The primary reason I left Philly is because people there are very closed minded and EXTRAORDINARILY prejudiced. You may think it is otherwise but I lived there and grew up there. I know many of the old families with wealth many generations deep. I know far more people there than here and if there is one thing I know its Philly people. On the surface they may not seem so but I know the conversations that go on behind your back and they are horrific. I couldnt bear to live in a place like that anymore so I left. Calling them immigrant friendly is bizarre to say the least.[/quote]

sdrealtor, I don’t know the local established people in Philly feel about immigrants. I believe what you posted is not just indicative of Philadelphia but of any city where there many new arrivals.

Immigrants seem to the thriving in Philadelphia. There is a Chinatown which we don’t really even have here in San Diego. I noticed quite a few Chop Suey style Chinese take-outs which allow the newly arrived, non-educated immigrants (who maybe don’t have driver’s licenses) to thrive.

39% of Philadelphia’s population is non-Hispanic Whites. Hispanics are 10% of the population.

Whites are 86% of Carlsbad. Non-Hispanic whites are 48% of San Diego (65% if you include Hispanic Whites).

Of course, the demographics vary by neighborhood. My point about Philly is that if you’re “tired, poor and yearning to breathe free”, Central Philly is not a bad place to start (much cheaper than NY or SF). You just want work and a place to live and couldn’t care less what the nice people think.

[briansd1]

[quote=sdrealtor]Brian
Did you actually say “Philadelphia is very immigrant friendly”. If you did you seriously have your head up your….

The primary reason I left Philly is because people there are very closed minded and EXTRAORDINARILY prejudiced. You may think it is otherwise but I lived there and grew up there. I know many of the old families with wealth many generations deep. I know far more people there than here and if there is one thing I know its Philly people. On the surface they may not seem so but I know the conversations that go on behind your back and they are horrific. I couldnt bear to live in a place like that anymore so I left. Calling them immigrant friendly is bizarre to say the least.[/quote]

sdrealtor, I don’t know the local established people in Philly feel about immigrants. I believe what you posted is not just indicative of Philadelphia but of any city where there many new arrivals.

Immigrants seem to the thriving in Philadelphia. There is a Chinatown which we don’t really even have here in San Diego. I noticed quite a few Chop Suey style Chinese take-outs which allow the newly arrived, non-educated immigrants (who maybe don’t have driver’s licenses) to thrive.

39% of Philadelphia’s population is non-Hispanic Whites. Hispanics are 10% of the population.

Whites are 86% of Carlsbad. Non-Hispanic whites are 48% of San Diego (65% if you include Hispanic Whites).

Of course, the demographics vary by neighborhood. My point about Philly is that if you’re “tired, poor and yearning to breathe free”, Central Philly is not a bad place to start (much cheaper than NY or SF). You just want work and a place to live and couldn’t care less what the nice people think.

[briansd1]

[quote=sdrealtor]Brian
Did you actually say “Philadelphia is very immigrant friendly”. If you did you seriously have your head up your….

The primary reason I left Philly is because people there are very closed minded and EXTRAORDINARILY prejudiced. You may think it is otherwise but I lived there and grew up there. I know many of the old families with wealth many generations deep. I know far more people there than here and if there is one thing I know its Philly people. On the surface they may not seem so but I know the conversations that go on behind your back and they are horrific. I couldnt bear to live in a place like that anymore so I left. Calling them immigrant friendly is bizarre to say the least.[/quote]

sdrealtor, I don’t know the local established people in Philly feel about immigrants. I believe what you posted is not just indicative of Philadelphia but of any city where there many new arrivals.

Immigrants seem to the thriving in Philadelphia. There is a Chinatown which we don’t really even have here in San Diego. I noticed quite a few Chop Suey style Chinese take-outs which allow the newly arrived, non-educated immigrants (who maybe don’t have driver’s licenses) to thrive.

39% of Philadelphia’s population is non-Hispanic Whites. Hispanics are 10% of the population.

Whites are 86% of Carlsbad. Non-Hispanic whites are 48% of San Diego (65% if you include Hispanic Whites).

Of course, the demographics vary by neighborhood. My point about Philly is that if you’re “tired, poor and yearning to breathe free”, Central Philly is not a bad place to start (much cheaper than NY or SF). You just want work and a place to live and couldn’t care less what the nice people think.

[briansd1]

[quote=sdrealtor]Brian
Did you actually say “Philadelphia is very immigrant friendly”. If you did you seriously have your head up your….

The primary reason I left Philly is because people there are very closed minded and EXTRAORDINARILY prejudiced. You may think it is otherwise but I lived there and grew up there. I know many of the old families with wealth many generations deep. I know far more people there than here and if there is one thing I know its Philly people. On the surface they may not seem so but I know the conversations that go on behind your back and they are horrific. I couldnt bear to live in a place like that anymore so I left. Calling them immigrant friendly is bizarre to say the least.[/quote]

sdrealtor, I don’t know the local established people in Philly feel about immigrants. I believe what you posted is not just indicative of Philadelphia but of any city where there many new arrivals.

Immigrants seem to the thriving in Philadelphia. There is a Chinatown which we don’t really even have here in San Diego. I noticed quite a few Chop Suey style Chinese take-outs which allow the newly arrived, non-educated immigrants (who maybe don’t have driver’s licenses) to thrive.

39% of Philadelphia’s population is non-Hispanic Whites. Hispanics are 10% of the population.

Whites are 86% of Carlsbad. Non-Hispanic whites are 48% of San Diego (65% if you include Hispanic Whites).

Of course, the demographics vary by neighborhood. My point about Philly is that if you’re “tired, poor and yearning to breathe free”, Central Philly is not a bad place to start (much cheaper than NY or SF). You just want work and a place to live and couldn’t care less what the nice people think.

[briansd1]

[quote=sdrealtor]Brian
Did you actually say “Philadelphia is very immigrant friendly”. If you did you seriously have your head up your….

The primary reason I left Philly is because people there are very closed minded and EXTRAORDINARILY prejudiced. You may think it is otherwise but I lived there and grew up there. I know many of the old families with wealth many generations deep. I know far more people there than here and if there is one thing I know its Philly people. On the surface they may not seem so but I know the conversations that go on behind your back and they are horrific. I couldnt bear to live in a place like that anymore so I left. Calling them immigrant friendly is bizarre to say the least.[/quote]

sdrealtor, I don’t know the local established people in Philly feel about immigrants. I believe what you posted is not just indicative of Philadelphia but of any city where there many new arrivals.

Immigrants seem to the thriving in Philadelphia. There is a Chinatown which we don’t really even have here in San Diego. I noticed quite a few Chop Suey style Chinese take-outs which allow the newly arrived, non-educated immigrants (who maybe don’t have driver’s licenses) to thrive.

39% of Philadelphia’s population is non-Hispanic Whites. Hispanics are 10% of the population.

Whites are 86% of Carlsbad. Non-Hispanic whites are 48% of San Diego (65% if you include Hispanic Whites).

Of course, the demographics vary by neighborhood. My point about Philly is that if you’re “tired, poor and yearning to breathe free”, Central Philly is not a bad place to start (much cheaper than NY or SF). You just want work and a place to live and couldn’t care less what the nice people think.

[UCGal]

I have to agree with sdr on several Philly points. My husband was born and raised in Philly – as were his parents. His grandparents emmigrated to South Philly at the beginning of the last century. I lived in the Philly ‘burbs for 11 years.

As a Cali girl moving to Philly metro I was shocked/dismayed by the overt racism in Philly. I would NOT describe it as immigrant friendly if you’re talking about non-European immigrants. If the immigrant’s skin isn’t white… it’s not very friendly. (Irish, Polish, and Italians have long established communities – and the North East has a big Russian community – so it’s friendlier to these groups.)

If you hope to make money in real estate through long term appreciation… don’t hold your breath. My husband bought a home in Frankfurt in the early 80’s (north east) -saw the white flight first hand when the first black family moved in. He sold it after 20 years, after doing significant improvements (like buying the neighboring lot and putting an attached garage on.) It only appreciated 30k in 20 years. (Bought for 10k as a shell – HUD repo, 5k in plumbing and electrical in order to get occupancy, 6k for the neighboring lot, 3k to build the garage.) Put in normal maintenance through the years (new roof, new siding, new windows.) Sold for $54k. That’s not a lot of profit for 20 years of ownership and maintenance.

Parts of Philly are overpriced, IMO. Anything in center city is overpriced. I have friends who live 2 blocks off Rittenhouse – the appreciation on their home, since they bought in the late 90’s in truly in bubble territory. Other friends bought in the Art Museum district – again lots of froth and bubbleness. Don’t get me started on Society Hill and Old City. I think it’s pretty likely you could catch

My boss was back in suburban Philly for the past few weeks. He described driving on Old York Rd (611) southbound and realizing he’d crossed into Philly (Germantown area) because there was an INSTANT shift in demographics as crossed Cheltenham Ave into the city.

I love Philly and a lot of the suburbs. I loved living in Glenside (one of the quaint older suburbs north of the city). I love the history and charm of the older architecture. But I would not buy in Philly looking for appreciation. Unless I were buying in one of the not-so-trendy (and less bubbled) areas and had cashflow going.

And it is definitely home to more prejudice than San Diego metro. It’s hard to miss.

One last point – until they fix the wage tax thing – there won’t be a big move back into the city by the folks who fled. The white flight had some racism – but it was also fleeing the wage tax. There’s a reason why many of the suburbs immediately adjacent to Philly have 0% wage tax (Bensalem, Trevose, Cheltenham) It’s to draw in former city residents who work in the burbs. Why pay 4-5% wage tax to live in the city and have crappy schools.

[UCGal]

I have to agree with sdr on several Philly points. My husband was born and raised in Philly – as were his parents. His grandparents emmigrated to South Philly at the beginning of the last century. I lived in the Philly ‘burbs for 11 years.

As a Cali girl moving to Philly metro I was shocked/dismayed by the overt racism in Philly. I would NOT describe it as immigrant friendly if you’re talking about non-European immigrants. If the immigrant’s skin isn’t white… it’s not very friendly. (Irish, Polish, and Italians have long established communities – and the North East has a big Russian community – so it’s friendlier to these groups.)

If you hope to make money in real estate through long term appreciation… don’t hold your breath. My husband bought a home in Frankfurt in the early 80’s (north east) -saw the white flight first hand when the first black family moved in. He sold it after 20 years, after doing significant improvements (like buying the neighboring lot and putting an attached garage on.) It only appreciated 30k in 20 years. (Bought for 10k as a shell – HUD repo, 5k in plumbing and electrical in order to get occupancy, 6k for the neighboring lot, 3k to build the garage.) Put in normal maintenance through the years (new roof, new siding, new windows.) Sold for $54k. That’s not a lot of profit for 20 years of ownership and maintenance.

Parts of Philly are overpriced, IMO. Anything in center city is overpriced. I have friends who live 2 blocks off Rittenhouse – the appreciation on their home, since they bought in the late 90’s in truly in bubble territory. Other friends bought in the Art Museum district – again lots of froth and bubbleness. Don’t get me started on Society Hill and Old City. I think it’s pretty likely you could catch

My boss was back in suburban Philly for the past few weeks. He described driving on Old York Rd (611) southbound and realizing he’d crossed into Philly (Germantown area) because there was an INSTANT shift in demographics as crossed Cheltenham Ave into the city.

I love Philly and a lot of the suburbs. I loved living in Glenside (one of the quaint older suburbs north of the city). I love the history and charm of the older architecture. But I would not buy in Philly looking for appreciation. Unless I were buying in one of the not-so-trendy (and less bubbled) areas and had cashflow going.

And it is definitely home to more prejudice than San Diego metro. It’s hard to miss.

One last point – until they fix the wage tax thing – there won’t be a big move back into the city by the folks who fled. The white flight had some racism – but it was also fleeing the wage tax. There’s a reason why many of the suburbs immediately adjacent to Philly have 0% wage tax (Bensalem, Trevose, Cheltenham) It’s to draw in former city residents who work in the burbs. Why pay 4-5% wage tax to live in the city and have crappy schools.

[UCGal]

I have to agree with sdr on several Philly points. My husband was born and raised in Philly – as were his parents. His grandparents emmigrated to South Philly at the beginning of the last century. I lived in the Philly ‘burbs for 11 years.

As a Cali girl moving to Philly metro I was shocked/dismayed by the overt racism in Philly. I would NOT describe it as immigrant friendly if you’re talking about non-European immigrants. If the immigrant’s skin isn’t white… it’s not very friendly. (Irish, Polish, and Italians have long established communities – and the North East has a big Russian community – so it’s friendlier to these groups.)

If you hope to make money in real estate through long term appreciation… don’t hold your breath. My husband bought a home in Frankfurt in the early 80’s (north east) -saw the white flight first hand when the first black family moved in. He sold it after 20 years, after doing significant improvements (like buying the neighboring lot and putting an attached garage on.) It only appreciated 30k in 20 years. (Bought for 10k as a shell – HUD repo, 5k in plumbing and electrical in order to get occupancy, 6k for the neighboring lot, 3k to build the garage.) Put in normal maintenance through the years (new roof, new siding, new windows.) Sold for $54k. That’s not a lot of profit for 20 years of ownership and maintenance.

Parts of Philly are overpriced, IMO. Anything in center city is overpriced. I have friends who live 2 blocks off Rittenhouse – the appreciation on their home, since they bought in the late 90’s in truly in bubble territory. Other friends bought in the Art Museum district – again lots of froth and bubbleness. Don’t get me started on Society Hill and Old City. I think it’s pretty likely you could catch

My boss was back in suburban Philly for the past few weeks. He described driving on Old York Rd (611) southbound and realizing he’d crossed into Philly (Germantown area) because there was an INSTANT shift in demographics as crossed Cheltenham Ave into the city.

I love Philly and a lot of the suburbs. I loved living in Glenside (one of the quaint older suburbs north of the city). I love the history and charm of the older architecture. But I would not buy in Philly looking for appreciation. Unless I were buying in one of the not-so-trendy (and less bubbled) areas and had cashflow going.

And it is definitely home to more prejudice than San Diego metro. It’s hard to miss.

One last point – until they fix the wage tax thing – there won’t be a big move back into the city by the folks who fled. The white flight had some racism – but it was also fleeing the wage tax. There’s a reason why many of the suburbs immediately adjacent to Philly have 0% wage tax (Bensalem, Trevose, Cheltenham) It’s to draw in former city residents who work in the burbs. Why pay 4-5% wage tax to live in the city and have crappy schools.

[UCGal]

I have to agree with sdr on several Philly points. My husband was born and raised in Philly – as were his parents. His grandparents emmigrated to South Philly at the beginning of the last century. I lived in the Philly ‘burbs for 11 years.

As a Cali girl moving to Philly metro I was shocked/dismayed by the overt racism in Philly. I would NOT describe it as immigrant friendly if you’re talking about non-European immigrants. If the immigrant’s skin isn’t white… it’s not very friendly. (Irish, Polish, and Italians have long established communities – and the North East has a big Russian community – so it’s friendlier to these groups.)

If you hope to make money in real estate through long term appreciation… don’t hold your breath. My husband bought a home in Frankfurt in the early 80’s (north east) -saw the white flight first hand when the first black family moved in. He sold it after 20 years, after doing significant improvements (like buying the neighboring lot and putting an attached garage on.) It only appreciated 30k in 20 years. (Bought for 10k as a shell – HUD repo, 5k in plumbing and electrical in order to get occupancy, 6k for the neighboring lot, 3k to build the garage.) Put in normal maintenance through the years (new roof, new siding, new windows.) Sold for $54k. That’s not a lot of profit for 20 years of ownership and maintenance.

Parts of Philly are overpriced, IMO. Anything in center city is overpriced. I have friends who live 2 blocks off Rittenhouse – the appreciation on their home, since they bought in the late 90’s in truly in bubble territory. Other friends bought in the Art Museum district – again lots of froth and bubbleness. Don’t get me started on Society Hill and Old City. I think it’s pretty likely you could catch

My boss was back in suburban Philly for the past few weeks. He described driving on Old York Rd (611) southbound and realizing he’d crossed into Philly (Germantown area) because there was an INSTANT shift in demographics as crossed Cheltenham Ave into the city.

I love Philly and a lot of the suburbs. I loved living in Glenside (one of the quaint older suburbs north of the city). I love the history and charm of the older architecture. But I would not buy in Philly looking for appreciation. Unless I were buying in one of the not-so-trendy (and less bubbled) areas and had cashflow going.

And it is definitely home to more prejudice than San Diego metro. It’s hard to miss.

One last point – until they fix the wage tax thing – there won’t be a big move back into the city by the folks who fled. The white flight had some racism – but it was also fleeing the wage tax. There’s a reason why many of the suburbs immediately adjacent to Philly have 0% wage tax (Bensalem, Trevose, Cheltenham) It’s to draw in former city residents who work in the burbs. Why pay 4-5% wage tax to live in the city and have crappy schools.

[UCGal]

I have to agree with sdr on several Philly points. My husband was born and raised in Philly – as were his parents. His grandparents emmigrated to South Philly at the beginning of the last century. I lived in the Philly ‘burbs for 11 years.

As a Cali girl moving to Philly metro I was shocked/dismayed by the overt racism in Philly. I would NOT describe it as immigrant friendly if you’re talking about non-European immigrants. If the immigrant’s skin isn’t white… it’s not very friendly. (Irish, Polish, and Italians have long established communities – and the North East has a big Russian community – so it’s friendlier to these groups.)

If you hope to make money in real estate through long term appreciation… don’t hold your breath. My husband bought a home in Frankfurt in the early 80’s (north east) -saw the white flight first hand when the first black family moved in. He sold it after 20 years, after doing significant improvements (like buying the neighboring lot and putting an attached garage on.) It only appreciated 30k in 20 years. (Bought for 10k as a shell – HUD repo, 5k in plumbing and electrical in order to get occupancy, 6k for the neighboring lot, 3k to build the garage.) Put in normal maintenance through the years (new roof, new siding, new windows.) Sold for $54k. That’s not a lot of profit for 20 years of ownership and maintenance.

Parts of Philly are overpriced, IMO. Anything in center city is overpriced. I have friends who live 2 blocks off Rittenhouse – the appreciation on their home, since they bought in the late 90’s in truly in bubble territory. Other friends bought in the Art Museum district – again lots of froth and bubbleness. Don’t get me started on Society Hill and Old City. I think it’s pretty likely you could catch

My boss was back in suburban Philly for the past few weeks. He described driving on Old York Rd (611) southbound and realizing he’d crossed into Philly (Germantown area) because there was an INSTANT shift in demographics as crossed Cheltenham Ave into the city.

I love Philly and a lot of the suburbs. I loved living in Glenside (one of the quaint older suburbs north of the city). I love the history and charm of the older architecture. But I would not buy in Philly looking for appreciation. Unless I were buying in one of the not-so-trendy (and less bubbled) areas and had cashflow going.

And it is definitely home to more prejudice than San Diego metro. It’s hard to miss.

One last point – until they fix the wage tax thing – there won’t be a big move back into the city by the folks who fled. The white flight had some racism – but it was also fleeing the wage tax. There’s a reason why many of the suburbs immediately adjacent to Philly have 0% wage tax (Bensalem, Trevose, Cheltenham) It’s to draw in former city residents who work in the burbs. Why pay 4-5% wage tax to live in the city and have crappy schools.

[sdrealtor]

Listen to UCGal its obvious to me she knows what she is talking about. I too love Philly but I understand it in ways you never will. Its my home town and I have tons of childhood friends I stay in touch with.

The immigrants live of the periphery and alot of what they make is through cash businesses. Tax fraud and getting cash discounts in neighborhood stores is well accepted there. It is a world you know nothing about and could take a beating in.

Chinatown has been there for probably close to 100 years. They live their own sheltered existence in their own world. Many illegal businesses are carried out in the backs of the restaurants and stores you see.

Its not like SD where races and cultures mix more freely. The fact that we dont have a Chinatown in SD is a good thing in my mind, its speaks to an inclusionary society unlike the exclusionary society in Philly where each ethniciaty stays far more segregated.

There is far more opportunity in CA for young entrepreneurial immigrants than in closed societies like you find back east.

Proceed at your own risk.

[sdrealtor]

Listen to UCGal its obvious to me she knows what she is talking about. I too love Philly but I understand it in ways you never will. Its my home town and I have tons of childhood friends I stay in touch with.

The immigrants live of the periphery and alot of what they make is through cash businesses. Tax fraud and getting cash discounts in neighborhood stores is well accepted there. It is a world you know nothing about and could take a beating in.

Chinatown has been there for probably close to 100 years. They live their own sheltered existence in their own world. Many illegal businesses are carried out in the backs of the restaurants and stores you see.

Its not like SD where races and cultures mix more freely. The fact that we dont have a Chinatown in SD is a good thing in my mind, its speaks to an inclusionary society unlike the exclusionary society in Philly where each ethniciaty stays far more segregated.

There is far more opportunity in CA for young entrepreneurial immigrants than in closed societies like you find back east.

Proceed at your own risk.

[sdrealtor]

Listen to UCGal its obvious to me she knows what she is talking about. I too love Philly but I understand it in ways you never will. Its my home town and I have tons of childhood friends I stay in touch with.

The immigrants live of the periphery and alot of what they make is through cash businesses. Tax fraud and getting cash discounts in neighborhood stores is well accepted there. It is a world you know nothing about and could take a beating in.

Chinatown has been there for probably close to 100 years. They live their own sheltered existence in their own world. Many illegal businesses are carried out in the backs of the restaurants and stores you see.

Its not like SD where races and cultures mix more freely. The fact that we dont have a Chinatown in SD is a good thing in my mind, its speaks to an inclusionary society unlike the exclusionary society in Philly where each ethniciaty stays far more segregated.

There is far more opportunity in CA for young entrepreneurial immigrants than in closed societies like you find back east.

Proceed at your own risk.

[sdrealtor]

Listen to UCGal its obvious to me she knows what she is talking about. I too love Philly but I understand it in ways you never will. Its my home town and I have tons of childhood friends I stay in touch with.

The immigrants live of the periphery and alot of what they make is through cash businesses. Tax fraud and getting cash discounts in neighborhood stores is well accepted there. It is a world you know nothing about and could take a beating in.

Chinatown has been there for probably close to 100 years. They live their own sheltered existence in their own world. Many illegal businesses are carried out in the backs of the restaurants and stores you see.

Its not like SD where races and cultures mix more freely. The fact that we dont have a Chinatown in SD is a good thing in my mind, its speaks to an inclusionary society unlike the exclusionary society in Philly where each ethniciaty stays far more segregated.

There is far more opportunity in CA for young entrepreneurial immigrants than in closed societies like you find back east.

Proceed at your own risk.

[Author]

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