Direct client Gerald takes abandoned eye-sore properties and turns them into beautiful new homes. The 32 years contractor has already completed over 10 rehabs and they’ve all gone under contract in less than 30 days. “One abandoned house can bring down the whole block,” he says. Such was the case with his latest project, 2 homes in the Cobbs Creek section of Southwest Philadelphia. They’d been destroyed by a fire five years ago. “It’s a beautiful block, it was just those houses killing it,” says Gerald.
DMLC’s Julia Glackman met with Gerald at the project for a draw request inspection. The houses have been gutted and reframed. The remaining work is scheduled for completion this spring. Then they’ll be ready for resale. Recent comps show homes in the area spending fewer days on the market and commanding higher purchase prices then Gerald once thought possible.
Gerald became interested in real estate as a boy watching his grandfather manage rentals properties. A friend suggested he try flipping. “I did it one time and was like, ‘this is easy.'” Early on he worked with lenders who were middlemen and not always able to raise the capital he needed. He’s been working with DMLC since 2010 “I love Direct Mortgage. Their rates are fair. They feel like an extended family and they’re very professional. If they say they’re going to do it, they do it,” says Gerald.
He describes the loan process as quick and simple. “They can close within a matter of days and they stand behind everything they say. We have a track record, so when I ask for money they don’t question it. They know it’s feasible and they know it’s going directly into the house.” The completed 3 bedroom house he closed on last month is a prime example of the quality of his work.
He uses quality materials and fixtures, and whenever possible, restores the original details of the house to preserve it’s character. Gerald says he loves his work. He get’s to see his vision come to life and he’s making a positive impact in the neighborhood. “I’m changing the community one house at a time,” he says, “they love you on the block.” Thanks for working with DMLC, Gerald. We wish you continued success!