New to Philadelphia Area

[Smith Worden]

Hello to all

I plan on doing my first flip in these upcoming months, and have chosen Philadelphia as the right market to do so. I live in Newark DE and see a lot more opportunity there, and it isn't too far away. Any and all advice is greatly appreciated, about Philly as a whole, good and bad neighborhoods, and anything else that could be of use.

To those that take the time to respond, thank you!

[Annchen Knodt]

since it isn't far away i'd highly recommend attending as many meetups as you can to connect with other investors in the area!  there are probably lots of virtual meetups as well. you can find them on here or also meetup.com for starters.  and be sure to set up keyword alerts on here for philadelphia so that you get notified of any new relevant discussions! (there's likely also plenty of existing threads with great insights that you can search for as well)  Good luck!

[Dan Powers]

Hey Smith,

First I would focus on a specific area you want to target. As you've prob heard Philly is a very block-by-block city with ARV changing by 20-30k just by depending on the block you're on. Next and honestly the most important aspect is finding a good reliable contractor, I would recommend doing another post in the Philly forum looking for an investor-friendly contractor. Hope this helps, feel free to reach out if you have any other questions.

[Eric Greenberg]

I agree with Dan.  Might be helpful to post in the Philly forum and add some more details like areas you are looking in, price targets, will you be doing the work or hiring it out, etc.

[Rob Lawrence]

Hey, thought we could connect!  Happy to fill you in on the Northern DE and Philly suburubs.

[Ley Nezifort]

Welcome to the area Smith! I feel like L&I is more friendly to outside investors who are not from New York, so you’re good there. If it’s your first flip, stay away from any major structural changes, like underpinning, and structural walls. Also, due to the recent fires, they started putting more emphasis on proper fire blocking. So that’s a thing to note.