I’m based in Philadelphia and currently own two rental properties (both single-family). One is financed and the other was purchased in cash, and both are cash-flowing. I self-manage and have been learning as much as I can through hands-on experience.
At this point, I’m looking to scale but want to be intentional about my next move. I’m specifically interested in acquiring small multi-family homes as my next investment and would value advice from experienced investors who’ve made this transition.
I’m open to learning from others who’ve successfully scaled and appreciate any advice, lessons learned, or resources you’d recommend.
I’m based in Philadelphia and currently own two rental properties (both single-family). One is financed and the other was purchased in cash, and both are cash-flowing. I self-manage and have been learning as much as I can through hands-on experience.
At this point, I’m looking to scale but want to be intentional about my next move. I’m specifically interested in acquiring small multi-family homes as my next investment and would value advice from experienced investors who’ve made this transition.
I’m open to learning from others who’ve successfully scaled and appreciate any advice, lessons learned, or resources you’d recommend.
Hi @Wilmari Tejeda, welcome to the BP Forum! What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"? Are you looking for properties in a specific are of Philly or somewhere else?
Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
7mo
Hey Wilmari and welcome to the BP Forum. I am in Investor and an agent in the Philadelphia area who specializes in small multi family sales. Typically it is more lucrative to invest in multifamily real estate as your rent per square footage numbers are going to be higher than single-family. I also highly urge to look into the outskirts of Philadelphia. For example, Roxborough, Mount Airy Northeast Philadelphia and if possible, Bucks County and Montgomery County. I am still seeing strong rental demand in those locations as opposed to others closer to the city. Units are not sitting on the market long, and with the proper rehab, you can get a decent rate of return. With the equity in your single-family homes, I'm sure you can pull some money out and get a nice duplex in a solid location.