Does anyone investing in Philadelphia,PA? I would like to know what you think about PA market? What is a good area to invest?
Philly market is great. Tons of opportunities all throughout the city. I'm looking at the areas in North and West Philly such as Fishtown, Port Richmond, Kensington, Northern Liberties, Yorktown, University City, Cedar Park. I have a deal I'm working on now for a student rental right next to Temple University that's looking like an amazing cash flow opportunity.
The Philadelphia market is great, there are a ton of great deals that cashfow very well if you know where to look. For duplexes, I recommend looking around Frankford, Germantown, or Port Richmond. If you don't mind dealing with mildly difficult tenants these areas offer a lot in terms of cashflow and possible apreciation.
@Miladin Knezevic - As an active real estate agent in the Philadelphia market I can tell you that there has been a lot of new development and activity in our market which has been positive for investors.
To say which specific area in our market is "good" or "bad" is really subjective because some investors may want a 25% ROI while others opt for a property that would yield a high A+ quality tenant...so on and so on.
What I can tell you is that there are few opportunities that exist in Center City and South Philly under $200k. A lot of Investors are either paying higher purchase prices or looking to North and Deep West Philly for opportunities.
Best of Luck!
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