I've been hearing a lot about South Philadelphia as an investment opportunity but haven't spent much time there.
What are some buy & hold neighborhood recommendations?
Does anyone have experience in Point Breeze, Grays Ferry or Brewerytown?
Hello Jason, I live in south phila. All of the areas you mentioned are great areas to invest in. In my experience though, there is a ton of competition for deals in point breeze....but they are still there. I am actually doing a flip right now on 22nd st. Parts of Grays ferry that are closer to point breeze have had a lot of attention for some time now but there are still plenty of opportunities, you just may have to go a bit farther west. Brewerytown is not in south phila, it’s north of the city between the schuylkill river and Fairmount...and a little farther west....this area is very hot right now but still very gritty, especially the farther north you go. But all areas are great to invest in! Keep the community posted with your progress! Good luck!
Hello David, thanks very much for your comments, it is great hearing from someone that lives out there.
With all the talk of Brewerytown and the developments I’m aware of, the grittier side surprises me a bit. But, it’s still the same in Harlem, NYC, and that change has been happening for years. It the grit certainly isn’t what it used to be by any means.
I suppose the trick is finding the edge of that wave of development, buying into the more affordable side while you can. All the technology available is great but nothing beats just walking through Brewerytown which I haven’t done yet.
To your knowledge, how safe would you say it is? Bad areas of Newark NJ still have a lot of gunfire and car jackings, for example.
I live in Brewerytown- not as gritty as you think
Come to a meeting that Argo puts together and you’ll meet some folks quickly.
Next meeting this Wednesday!
Thanks for the invites.
Unfortunately it is a 2 hour ride each way, so when I'm a little more committed to the area I'd be happy to make the trek!
Here is my opinion on South Philly from an investment standpoint:
1. Competition - I can tell you that for the past 3-5 years there has been some significant investment dollars being spent in South Philly as a whole. The majority of the spending has been between rehabbing homes as well as new construction mostly in Newbold and Point Breeze. The closer to Broad Street (and the Broad Street Line) the more desirable in most cases. Because of this competition there are fewer opportunities out here for rehabbing/flipping profit.
2. Opportunity - Due to all of this interest, many developers, homeowners, and renters have begun looking west to further Point Breeze and Grays Ferry. Average purchase prices and rents are lower in these areas however are on the uptick.
3. Further Opportunity - I know you also referenced Brewerytown which is not considered a part of South Philly. Brewerytown is developing as well and is found north of Fairmount (Art Museum) area. Other areas that are seeing growth in the Northern Section Philly include Fishtown, Kensington, and parts of Port Richmond.
Let me know if you have any further questions...here to help.
Best of luck!
What scale and type of investment are you seeking? I work in point breeze myself and am beginning some new home construction next month.
@odieayaga when is your next brewerytown meeting?
Philadelphia is becoming tougher by the day to find a good deal. I've lived in the city and now live in the surrounding suburbs.
Fishtown is a market that keeps expanding. I handle the insurance for a lot of developers and flippers and they all keep buying in Fishtown. It's pushing into Kensington more and more, which is tough because Kensington is still a bit rough around the edges.
If you can find a good deal near University City, I feel this is going to become a hot market soon. It's really close to West Philly but that area is going under some major development now and will soon be a very popular section of Philly to live in.
@Joe Platyan thanks very much for your input. Since posting this, I've actually got my eye on a place in West Philly. May come out to see it soon!
I agree with @Joe Platyan . West Philly has a lot of upside while neighborhoods like Point Breeze, Fishtown, and Brewerytown are becoming saturated
@Jason Homa where in West Philly is the potential property located? We're investing a lot there at the moment -- would be happy to discuss the different neighborhoods and the trends we're seeing. Feel free to DM me!
Anyone investing in the Elmwood/ 19142 area?
Grabbed a house last year there off market. Lived in it while fixing. Bought for 30K put about 15K into it and just got the appraisal back for refi 114K. I like the price point in this area. Trying to plan next purchase soon.
Anyone familiar with this area or surrounding areas to grab the next house?
Hi everyone, I've been a member of BP for two years but only recently decided to be active. I know this thread is a year old but wanted to know if Brewerytown and Point Breeze is too saturated to invest in now. I am also looking into Strawberry Mansion but really unsure of the growth there.
Appreciate any recommendations, questions and/or references.
Be on the look out for a direct message I sent you!
@Ryan Worrell What are your thoughts on the Elmwood neighborhood? I love the price point there. What you described is similar to the price points I am seeing too. I am looking for properties where I can pay cash to BRRRR, and I would love to be all-in for 50k or less.
Hi @Liz Spina , I am looking for properties that fit this category as well but be all in around 75k or less. Please keep the thread updated with any progress you make.
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