Investing in Philly

[Mariam Soorosh]

Hi all. I am interested in buying multifamily in Philadelphia.

I have been twice, 12 years ago and remember a rather barren city in the downtown area. Not sure if things have changed but saw the prices of multifamily to be very low...drastically lower than NYC for sure.

I'm considering Passyunk, Queen Village and Wharton. Is Philly worth it?

thank you so much for your input :)

[Eric Greenberg]

There are definitely ’barren’ areas of center compared to NYC like Market East but there are slews of huge projects underway throughout the city. 

Key is to really understand the areas you want to be in and your goals to make sure they align. There are plenty of deals but plenty of terrible ‘off-market deals’ too so be careful and become an expert or get someone on your team who is.