Top areas to buy rental properties in Phila, PA

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Stuart UdisPro Member
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
1y

Hi Kevin, this is going to be circumstantial based on the individual investor. There's both neighborhood and strategy that must be considered. Some neighborhoods are better suited for certain strategies than others. The investors capabilities (balance sheet/credit, skills, time) all play a role in identifying the best investment strategy.

To illustrate, someone at the wealth preservation phase of their life is going to be looking at different real estate strategies than the 25 year old who looking to purchase their first property. The doctor who makes $500K a year and wants more passive real estate is going to be looking at different properties than the investor who is also  GC. 

The good news is Philadelphia has diverse housing stock and many are successful pursuing different strategies. Perhaps if you share more about yourself,  myself and others can chime in with best strategies and neighborhoods to pursue those strategies. 

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  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    1y

    Hi Kevin, this is going to be circumstantial based on the individual investor. There's both neighborhood and strategy that must be considered. Some neighborhoods are better suited for certain strategies than others. The investors capabilities (balance sheet/credit, skills, time) all play a role in identifying the best investment strategy.

    To illustrate, someone at the wealth preservation phase of their life is going to be looking at different real estate strategies than the 25 year old who looking to purchase their first property. The doctor who makes $500K a year and wants more passive real estate is going to be looking at different properties than the investor who is also  GC. 

    The good news is Philadelphia has diverse housing stock and many are successful pursuing different strategies. Perhaps if you share more about yourself,  myself and others can chime in with best strategies and neighborhoods to pursue those strategies. 

    [email protected]
    1Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    1y

    Hey Kevin, I always focus on the three main rules of RE:

    1. Location

    2. Location

    3. Location

    If you hear that Philly is Block by block, I would shy away from that that advice. That means that they are buying in risky areas hoping for major change in gentrification and appreciation. 

    The following neighborhoods are best for appreciation and long term holds although cash flow might be tight:

    Far NE Phila

    Roxborough

    Manyunk

    East Falls

    W Mount Airy

    Parts of E Mount Airy

    Chestnut Hill

    Farimount

    Grad hosptial

    Fitler Sq

    Old City

    There are some more here and there but these stand out to me most. best of luck! 

    [email protected]267-767-0111
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  • Sheryl Sitman
    Rental Property Investor · Philadelphia, PA · Member since 2015 · 480 posts · 362 votes
    1y

    @Stuart Udis and @Alan Asriants are spot on in their advice. Think of it this way - if there was a "best" place to invest, we would all be running to the same place. I am personally spread all around Philly and even spread around the US in my portfolio. You need to match your resources, goals, risk tolerance, personality etc. to the opportunities that exist.  While one person may invest in turnkey high end properties another may buy only the most distressed assets he can find. And both may be meeting their goals... I would urge you to get some initial objective consulting/coaching from a seasoned investor who works with newer investors - so you can avoid some classic newbie mistakes, get to know Philly better, develop a suitable strategy and identify properties that will serve your goals. I run a group of landlords on FB and I see so many people jumping in without enough knowledge. 

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  • Kevin Lorick
    OP
    New to Real Estate · Member since 2024 · 25 posts · 4 votes
    1y

    Thank you everyone for giving your time and advice. I will use the information you provide going forward with my RE choices.

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