starting out in philly rentals

4 Replies

Nate, for 50K or less I would suggest West Philly but its not for everyone. Personally, I think that the closer to center city you are the better off you will be in terms of appreciation. UPenn and Drexel are investing a lot of money into the area (University City which is in West Philly) so the thought is that this will hopefully continue to expand into surrounding neighborhoods.

Hello Nate,

Since you are in NJ i would suggest something and take it with a grain of salt. I have seen studying the market a lot and all these 50K homes although looks good from pictures when you do a walk through is another whole deal. Now if you can buy a home for 35K and put in 20K you maybe able to rent it out for 850-900 but its not a neighborhood you can expect to grow quick. I personally went and spent a good 1 day to go around alot of these places and when i walked into the house was another thing.

Sorry to bust your bubble.



@nate you can find 2-3 bedroom places for sale around 25-35k you might have to put 15k-25k for rehab and rental income sound 875-1000, only thing is those properties only stay on the market for 72hrs so you have to be ready !! I specialize in those rentals drop me a line if your interested 

Hey man I would recommend whole saling the property! Or rehabbing the property to a rental, if it's an expanding area it sounds like a good idea and I would recommend looking on Zillow and finding the stats of the other houses around you! Hope that helps!