What are the best areas in Southeastern PA to begin purchasing multi family properties? I see many members from Southeastern PA (Montgomery, Bucks, Delaware Counties) and wondering if any of these counties surpass Philadelphia as stable rental markets.
Why do they need to surpass the city?
I’d look for access to transportation to the city, of course. Highways included.
thanks for your response. I was just researching suburban areas to purchase units to rent.
@Michael Salin , how large of a property do you seek (20 units or 200)?
Anywhere from quads to 20 units. I should mention, currently I own commercial properties where my personal business is the tenant. Each property is held in an LLC and the business pays rent to the LLC. Each of these properties provide me $4500 - 5000 per month after debt service . These have been very profitable and now I have been contemplating getting into the residential rental market for more passive income but I am finding that unless I make a rather large substantial investment it will be difficult to throw off those types of returns. Any suggestions where to start?
@Michael Salin , that's pretty good cash-flow on those properties (depending on the capital invested). Is it NNN?
If you are looking for passive income, I would look into a syndication of 150+ units.
If you are looking to do a 1031 exchange, discuss that with the syndicator unfront as most will not be eligible.
Thanks Percy. I would like to look into syndication options. Any idea how I could get involved with that in and around Philadelphia?
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