Investimg in Philadelphia(philly)

2 Replies

I have yet to see any stories coming out of Philadelphia on the forum. As an inspiring investor(in process of getting real estate license) ,does anyone have any stories to share? Specifically first deals in the Philly and bucks county areas.

Nicholas, what kind of stories are you looking for? Philadelphia has a lot of great investment opportunities since the city has a ton of blighted inventory, often with title issues or zoning issues to resolve, and also a ton of vacant land. Real estate pricing has of course gone up everywhere in the last few years of course as interest rates stay low, the economy is strong, and investors join the game. But in my opinion, there is still plenty of opportunity in Philly. It's important to figure out what your business strategy is, and what your value-add proposition is.

I know that folks have been successful in each one of these niches in Philly real estate, just depends on what you are looking to do (in no particular order and just off the top of my head, I'm sure that I'm leaving a bunch out): low-income rentals, luxury rentals, flips, vacant land speculation, new construction, section 8/PHA rentals, wholesaling, wholetailing, bird dogging, turn key sales, property management, construction management, financing expert, zoning expert, title expert, business procedure consulting, hard money lending, seller financing, buying subject-to, syndicating deals, 1031 exchange scout, retail sales, etc.

Personally, I've set up a pretty decent rental portfolio over the last few years, that's what made sense for my investing goals and setup.  But there's more than one right way to do it depending on what your "unfair advantage" is (per @Brandon Turner ) and your investing time horizon and your ideal day-to-day setup.