Philadelphia, PA · Member since 2016 · 12 posts · 4 votes
Hi folks! I'm a new investor looking at buying a duplex or single family in NW Philadelphia. Right now I've been concentrating most of my energy on Germantown. Does anyone have experience investing in this area?
I live in Mt Airy but am not hugely familiar with all the nuances of Germantown. It seems similar to Mt Airy in that it can vary so much block by block, etc, and I'm trying to get a handle on what areas / blocks of Germantown are stronger investments. I'm looking to buy and hold, so will be wanting a strong rental market with lots of potential for solid tenants. Does proximity to Germantown Ave matter? Proximity to the train? Parking? Number of bedrooms? Etc. Generally west Germantown is looking more attractive, but even within that there is huge variation. I'm keen on a duplex near Johnson and Germantown Ave but am not very familiar with that pocket. It's one of the best houses on the block, which concerns me a little.
I believe that Germantown presents a great investment opportunity, I love the community and I feel that it's making some great strides, I just want to make sure I'm focusing on the right areas.
@Kathryn Krueger Germantown has seen a ton of growth and I've moved some inventory up there. Buy and hold is looking appealing as the property values are continuing to go up. If you want to see typical rents based on the property specs see the link below!
@Kathryn Krueger Germantown has seen a ton of growth and I've moved some inventory up there. Buy and hold is looking appealing as the property values are continuing to go up. If you want to see typical rents based on the property specs see the link below!
Also in for an update on the Germantown market like @Cliff T., I purchased a couple of student rentals near Temple earlier in the year and I am considering Germantown next as I like the variety of homes (it does not seem to be block after block of identically laid out rowhomes).
I'm currently looking for a buy and hold triplex or quad in the Germantown area. I want to house hack in it for the first year or so. As a result, I'm looking for those nicer blocks where my fiance and I will feel decently comfortable for the time that we live there.
Any recommendations of specific areas within Germantown or specific blocks? Right now, I'm looking close to the Queen Lane train station and also by Cliveden Park.
Also, I would like to better understand the fundamentals of why Germantown is up and coming. What is driving this growth? What type of tenant class currently exists and what class is expected to move to the area? What changes will occur to create a sustainable rental market (i.e. where would the tenants work to gain their income)?
I'm pretty new to the area and to investing in general so I'm looking to learn :-)