I have a cousin who is a small time investor in Philadelphia and is looking to grow. I am looking to learn more about the business while help him grow his business. So I plan on moving to Philadelphia end of November.
I welcome any advice on knowledge about the market, people to connect with, groups to join, areas to focus on, etc... Would love to connect with some folks currently investing in and around the Philadelphia market.
Hey @Scott Morris welcome to Philly! Are you originally from Fort Lauderdale? I’m from the Philly/jersey area but lived in Fort Lauderdale for a few years after college. Miss it sometimes lol.
My team and I are licensed agents in Philadelphia and New Jersey and invest here ourselves. There’s a ton of investors/agents on this site that you should connect with. I’d also recommend joining a local investment group when you get up here. As for what areas to focus on, that’s hard to say as I’m not sure what type of investing you and your cousin are doing. Let me know if I can be of any further help, would love to connect.
@Nick Brown , I'm actually from Fort Myers and am currently living nomadically with no "set" home... I just put Fort Lauderdale because that's where I thought I'd end up. I've lived all over Florida though from Sarasota/Tampa/Orlando and Miami.
What group(s) do you suggest joining? It is difficult to get honest reviews online as people buy or fake them. Would be good to actually have someone give their honest opinion and suggestion.
I will have to investigate more the areas and spend some time walking/driving neighborhoods.
Hey Scott, I'm an agent/investor in the area. I have a couple duplexes around Kensington and Frankford, and work with a ton of investor clients who are looking to wither jump into investing or expand their portfolio.
I personally recommend looking into those areas for properties, as there is always inventory on the market with great cashflow, and I believe that values in those areas will go up in the next 5-15 years.
Thanks, @Brendan Markle
@Scott Morris The local REIA meetings are a good place to start. I would create a login on meetup and search the Philly area there's a ton of groups that meet for all different niches of real estate investing.