Philadelphia B areas?

Question

Hello, new investor here. I'm looking for remote rentals in PA and would like to start with B areas.

What counties/neighborhoods would you recommend I look into?

Louise Cornell · Answer

@Pamela L Assogba Hi Pamela, congrats on starting your investing journey. For rentals as a new investor I would look into Cobbs Creek, Germantown, Olney, Logan, and Haddington. There are some great rental areas in the suburbs of Philly too such as Delaware County (Upper Darby, Parkside, Prospect Park, Brookhaven). It depends on what your scale is for A/B/C neighborhoods. The neighborhoods I mentioned are from the viewpoint that Northern Liberties, Fishtown, Brewerytown, Point Breeze, etc are A neighborhoods for investing. Happy to shed more light on some of the neighborhoods mentioned above. I'll send you a DM as well.

Best,

Louise

Best,

Louise

Rich O'Neill · Answer

@Nick Scullin with the right team around you you will rarely have to commute to the properties. I would not limit your search for that if you can wrap your head around it. It is not worth getting a not-so-good deal just because it is closer to you or your job. Obviously if the deals are as good or better closer to you then go for it.

If Delco works better for your goals and everything else then I think you should give it a shot.

Sheryl Sitman · Answer

Your budget will be the main driver as to what "B" areas you can invest. Are you willing to buy a distressed property and rehab it? What ROI are you hoping to achieve and what is your strategy? If you are not using cash, you will be very limited as to what you will have access to.  When people throw out neighborhood names and zips, it is meaningless in my opinion until you have defined what you are looking to do.  I am a very active investor in the region and never even looked in some of the area mentioned here - not because investing in those places is wrong or bad - but because they did not make sense for my personal strategy, risk tolerance, vision ...

Louise Cornell · Answer

@Eric Greenberg all depends on what investors consider to be A-class. If you consider Rittenhouse, Fairmount, etc in the running then obviously Brewerytown and Point Breeze aren't as highly rated. But in an area where certain blocks get 400k+ on the out I consider that to be B+ or higher. Most first time investors don't even consider those super high-end areas though so I think the scale changes slightly from investor to investor.

Steve Uhlig · Answer

@Shahadat Reza Hi we invest heavily in the Pottstown area, which is on the western edge of Montgomery county bordering Chester and Berks.  Great for cash flow as rent to cost ratios are comparatively high.

Nick Scullin · Answer

@Rich O'Neill That's a great point. The reason I say this is because I am going to start with a house hack, so I need to be bale to commute to work at the moment. After I make this first move then I will be willing to expand out to lets day Delco. From what I understand its like you say, if you got the right team then you can invest anyway. Being new to all this, I need to first get my house hack and network along the way so that I can have a team at the ready for when I want to branch out and be confident that the team will help me achieve my goals, and help them!

Steve Uhlig · Answer

@Shahadat Reza Yes very BRRRRable.

Shahadat Reza · Answer

That is great information, thank you! we have not looked into pottstown, are there good opportunities for BRRR in that area?

Ian Walsh · Answer

You might want to use a Google map that splits areas into things like crime, median housing price, school district etc.

Rich O'Neill · Answer

@Nick Scullin I gotcha, sorry about that, must have missed that part. That makes sense then.

Best of luck. I know this is like drinking from the fire hose, but start to hone in on what you are looking for as much as you can.

Happy to help if I can!

Philadelphia B areas?

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