Invest in Philadelphia

[Elizabeth Chang]

Hi BP community! I am new here and look forward to meeting some awesome people. 

I am a NY multifamily investor looking to expand my portfolio out of state. Recently read/heard a lot about Philadelphia real estate, and interested in Fishtown or West Philly closer to schools specifically.  Are these good areas to invest or already super inflated? Curious to hear from BP community who's familiar with the market. 

Cheers,

Elizabeth 

[Alexander Brian Frederick]

Hey @Elizabeth Chang , as an agent in Philly, I strongly recommend investing down here! Compared to NY, annual taxes are pocket change and appreciation is happening very quickly. I would recommend looking into cobbs creek, mantua, and powelton in West philly for multi’s. There are rows and rows of duplexes in these areas and their relatively to Chestnut/Market/walnut st  and the universities make them attractive areas.  

Although I love Fishtown, inventory is very limited and most investors are starting to get priced out. I recently did a deal over there with a great spread, but it was not an easy find.