Don't Sleep on Philadelphia- Affordable Big City

[Brannon John]

I have lived in Philadelphia for over 20 years and traveled worldwide. I always wonder why Philly is always slipping under the radar. I have 10 units building my portfolio with a combination of BRRRR and flips. When you compare pricing of New York and DC it is a no brainer. We are only going up and there is no other city I would rather live in!. I work as a Real Estate investor, full time agent and I own several Skateboard/ Sneaker Shops. Hence I got into Real Estate for my retirement plan 8 years ago. I have helped buyers and sellers with over a 100 property sales and never thought twice about how good the opportunities here are. I listed a new Duplex today 2- 4bedroom1bath 1300 Sq/ft renting for $1500/unit. https://www.zillow.com/homedetails/4943-Chestnut-St-Philadel... It also has a seperate entrance to a Music Studio/Art space rental potential or development opportunity at $475k .   Why doesn't BP talk about Philly more?  I think it is an awesome market.  New Yorkers are coming in hot and heavy which is raising prices but I feel like that will only be good as an investor and for more job growth.   It is an hour 20mins on the train which makes it accessible to commute to NYC and still live in an affordable city with great restaurants and parks.   Hit me up and I will take you on some amazing hikes in the Wissahickon!   I would love to work together with other investors with the same confidence in the Philadelphia market.  Has anyone found meetups worth the time.  I am looking to connect to the investor community to do some bigger and better things this year!

thanks

Brannon

[Yechiel W.]

Hi brannon,

I am local and think about this from time to time. Philadelphia is laden with Crime, drugs, homelessness, looting. Unfortunately it's creeping into every area including some in the outer boroughs. Perhaps for flips cam be lucrative as there are lots of decapitated row homes. As a long term hold and Rent does not seem ideal. I have spoken to several of my coworkers whom have nightmares of section 8 tenant's trashing the place and not paying rent for over a year. So called the "professional tenant" I have read the 30ish pages of landlord tenant laws and it seems unfavorable to landlords. Perhaps you have a better experience and I have the wrong perspective. I would like you get your insight.