Just joined the site, looking for my 1st flip in the Philadelphia area. I only moved here about 1 month ago, could someone recommend some target areas (zip codes) to focus my search? Also, what strategies have you had the most luck with? (MLS, REO, shefiff auctions, prospecting, newspaper classifies, etc.) Thank you for your help.
I would recommend linking up with a good investor friendly agent first. They should be able to answer all the questions you're looking for in regards to your local market. Also, you'll need to have either proof of funds or a pre-qualification letter in place before submitting offers. You won't make it very far without one and you're investor friendly agent will be a whole lot more helpful if they know you're financially ready to go.
Thank you for the tip Colin. Am actually past that point, I bought my first rental property in Philadelphia about 2 years ago while living in NYC and have been renting it out ever since. So I understand the basics of dealing with a realtor and purchasing a home. I had been waiting to move out here to try my hand at a flip since the flip will require more active participation.
From reading other forums on Bigger Pockets I heard Fishtown, Point Breeze, Pennsport,
Germantown, Powelton Village, Old Kesington, are some good starting points. But some of those posts were I bit old and am just trying to get a sense of the market right now and what strategies are working for people.
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