Philadelphia investing ?

8 Replies

Hi , Im looking for multi or single family rentals to get into. I am hungry , determined to build a portfolio , i have a w2 job and if you are open for questions id love to pick your brain about different paths to take because philly is booming with property and alot of prices i cant touch so i need to find a different route. If anyone has any experiences with being a landlord or purchasing here id love suggestions or thoughts.

Depends on your buying power and strategy. Philadelphia itself has 60+ neighborhood. What exactly are you wanting to do? How will you finance? How soon do you want to purchase? And more. 

Finance wise i have to speak to multiple banks to see what i am approved for or if i went heloc route. I want to acquire multiple duplexes and triplexes and hold is the goal in low income areas. I would use cash for sheriff sales up to 30k but to rehab or regular deals i would need financing. 

Areas

Southwest philly , ogontz area , even some parts of south philly towards front st. 

I have a low debt to income ratio and excellent credit but i dont have any relationships with local lenders or banks yet. I would like to acquire 1 property by this year if sfh because lower funds i have then need be.

also , if i i plan to renovate sheriff sales should i have a predetermined scope of work with types of materials i will use and stick with same products in everyjob to manage spending easier

Hey Anthony.  I'm an investor/realtor in the city.  I manage my own properties and work with almost 100% investor clients, and have a great team in the city. I would be more than happy to answer any questions you may have.