WHY should I invest in Philadelphia (PA), Baltimore (MD)?
Hi everyone, I'm moving to the east coast soon. I'm looking at 2 markets right now for BUY - FIX - HOLD. The pros at these markets are the housing price is very affordable and job growth is +. However, there are many cons which make me concerned:
Philadelphia, PA: population growth rate is slowing down, high crime rates, low median household income, etc.
Baltimore, MD: the population is decreasing fast, high crime rates, negative home appreciation the last 10 years, etc.
I have a saving about 100K - 150K to invest. My strategies will be buying 2 properties under 50K each, rehab, rent out, and refinance. My questions are:
1) Is it possible to get B-class properties in these areas with the money I have right now? How? Can anyone recommend any zip codes?
2) Should I still step into these markets? Any other pros and cons I did not see yet?
3) I would love to connect with investors, realtors, wholesalers, contractors, lenders in these markets. Let's hang out and learn from each other.
4) Which other markets on the east coast I should take a look beside these 2? Why?
Thank you so much!