any investors from Philadelphia ?
I live in north jersey and decided Philadelphia is the best market right now for me to start investing. I was contacted by a realtor who isn't a investor and would feel more comfortable with someone who is. Im looking for some information regarding the following.
Every market has their obstacles and challenges. With that being said, what are some problems in the Philadelphia market?
1. What are some up & coming areas ?
2. Whats the transfer tax ?
3. Which tenant laws should i know
4. Any tips to help my search in finding 7% plus cap cash flowing place?
Im looking to purchase a 2 to 3 unit property with a fha or conventional downpayment 5% no debt 800 credit score.
With the increase in rates, i want to act fast. I will be house hacking as i commute to NJ for work till i find a new job in pa.