V2 Properties Newsletter Volume 11, Issue 7

July 2021

Exponential Insights

Properties At A Glance

  • 15
    Currently Under Contract
  • 72
    Awaiting Building Permits
  • 8
    Sold In Last 30 days
  • 0
    Scheduled To Sell In Next 30 days

Looking Forward to the Second Half of 2021

Much more to do before 2022

The first half of 2021 is already behind us and we have already accomplished a lot, we are looking forward to getting even more done in the second half of this year!

We overcame a variety of challenges this past six months including Covid related issues, supply shortages and working through pricing increases with our subcontractors. We met all of the challenges head on and overall the company performed very well.

As we look forward to the second half, we are already off to a great start. We have 23 properties currently under contract and 14 properties scheduled to sell in the next month. In addition to our new home sales, our rental portfolio continues to grow as well. We expect to have 22 new buildings and 66 more rental units completed and on the market by the end of this year. And for the first time, this month we are featuring one of the newest additions to our completed, ever expanding rental portfolio. Our featured property this month is 2408 N. Mascher Street which is located in the Kensington section of Philadelphia. The building has 3 units which are ready for lease. Each unit has a spacious kitchen with granite counters and top quality appliances-plus - each unit has a washer & dryer! In addition we have the same top quality upgrades that we include in all of our ‘for sale’ properties including a ‘smart’ thermostat, security system, keyless entry and surround sound speakers in the main living area. All three units also feature premium Mohawk / Revco or Aquaguard flooring.

We expect these three beautiful units to be leased out very quickly as we have recently completed several other rental buildings in this immediate area and all are doing extremely well.

The real estate market remains strong, we are pre-selling houses before they are finished at a record pace and we don’t expect that to change anytime soon.

A primary focus for us over the next few months will be the changes coming to the Philadelphia tax abatement process which are still scheduled to be implemented in January 2022. We are working hard to get as many building permits approved by the city in 2021 as possible which will allow our future home buyers to take advantage of the full current tax abatement structure.

Vince Viney, Founder & CEO


Press links

Where Are Our Projects

0
In the Pipeline
1
Phase 1 - Foundation & Framing
2
Phase 2 - Mechanicals & Insulation
3
Phase 3 - Final Finishes
4
On the Market
4
Under Contract

Phase 1

Phase 2

Phase 3

Under Contract

On The Market

In The Pipeline

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