Chester County, PA · Member since 2019 · 10 posts · 2 votes
Hi All! My name is Colin and I am looking to try and get into real estate investing in the Greater Philadelphia area. Would love any tips and advice on this market and to just make some connections in the real estate world.
Contractor · Pottstown, PA · Member since 2018 · 216 posts · 160 votes
7y
Hey guys, I grew up in Glenmoore, went to Downingtown schools and I'm house hacking in a duplex in Pottstown now, and making offers on places looking for a BRRRR. I like Pottstown for investing, and Reading, Norristown and Coatesville look interesting as well.
It's great to see people so local getting a conversation going!
Investor · Downingtown, PA · Member since 2015 · 58 posts · 16 votes
7y
@Colin Gallagher welcome. I’m in Downingtown and am working on my first brrrr. I also have two duplexes that we have house hacked. Good luck and feel free to reach out any time.
Newtown, PA · Member since 2018 · 172 posts · 81 votes
7y
Hey Colin ! Wecome to BP. Philadelphia and the surrounding areas are great for investing, if you know where to look. My advice, get a great team around yourself (Agent, contractor,lawyer etc). If you have any questions definitely feel free to reach out, I have 3 djuplexes in the city and am also an agent who specializes in helping investors.
Investor · Houston, TX · Member since 2017 · 49 posts · 36 votes
7y
Hi Colin, I am also a new investor in the area. I currently hold a SFR in the Northeast region of Philadelphia, and a 3 unit in the York City area. I am currently searching for deals mainly through the public free sites (Zillow, Trulia, Redfin, etc). It is very difficult to find a deal this way. I am currently looking to network more with local realtors and wholesalers.
Rental Property Investor · Pottstown, PA · Member since 2017 · 119 posts · 38 votes
7y
Hi Guys,
I saw your post. I am an investor in Pottstown, PA. Just got my first deal in November and looking to do a cash out refinance this month. I have a great agent if anyone's interested.
Contractor · Pottstown, PA · Member since 2018 · 216 posts · 160 votes
7y
Hey guys, I grew up in Glenmoore, went to Downingtown schools and I'm house hacking in a duplex in Pottstown now, and making offers on places looking for a BRRRR. I like Pottstown for investing, and Reading, Norristown and Coatesville look interesting as well.
It's great to see people so local getting a conversation going!
Contractor · Pottstown, PA · Member since 2018 · 216 posts · 160 votes
7y
I like it, compared with surrounding areas. Prices are comparatively low and there’s lots of B and C class rental opportunities. It seems to be an improving area, with a mix of places that are run down and unloved, places getting fixed up and places that are nice. That means that you have the opportunity to get a run-down place for a good price and fix it up into something nice, and the rental market seems pretty strong.
Disadvantages include high property taxes, the borough being difficult and pretty overbearing about building permits, and the school district isn’t great. So it just depends on what you’re looking for.
Much of Norristown and Pottstown are designated Opportunity Zones. I like Norristown because of the proximity to Philly and King of Prussia, both with many major employers and direct connection to a large city.