I'm new to this site but have been investing in Austin off and on for over 10 years. I have my real estate lisence.
I have been looking at the properties in Philadelphia and see opportunities, but don't know their economy well enough or city for that matter. I'm now thinking of going to different locations, buy and flip and build the money's to keep doing this.
Is it worth it? Has anyone done this and found an area that is hotter and guaranteed to sell is priced right and redone well? I'm thinking the cheaper row houses and townhomes, that can be acquired from 5000 to 25000. Even thought about doing 3 at a time, having contractors move from one to the next...but now sure if the economy would support, are they even sellable?
I have some colleagues that work in Philadelphia that could possibly give you some advice on that strategy if you would like! Let me know and good luck!
I work with contractors in Philly who seek out shells or outdated properties to renovate and flip. You will likely have to spend more than $25k, unless you are really looking at the outskirts and questionable areas.
@Cindy Donley Be careful with the $5,000 homes. There are a lot of rough parts of this city. It's very block by block. These sites may help:
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