Hot areas

2 Replies

I am a new investor to the Philly area and I am torn between two properties, one located in point breeze and the other south of passyunk ave. What are the hot areas in Philly with a $45k budget for asking price, light rehab strictly cosmetic with results in the ArV being $135k to $150k

Those are both considered promising areas, some spots within the areas are probably better than others, so I'd be really careful with comps and find ones as physically close to property as possible, and/or drive or (better yet) walk the areas and get to know what's what if you haven't already. I also think that most properties in that price range and area will likely require more than cosmetics -- even if they're lived in, they have not necessarily been well maintained.

I would double check the numbers. That is a really great spread. If it turns out to be true go for it. Maybe you can flip one in time to get the other.

Great luck.

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