Why Do You Invest in Philadelphia? (Testimonial Request!)

26 Replies

BiggerPockets! I'm working on building a landing page for the city of Philadelphia. Would anyone be willing to share why you choose to invest in the city? What makes your city so wonderful?

Originally posted by @Eli B. :

@Jared Forman can you elaborate on # 4?

 No two entities in the city communicate well. This also is my bias opinion from experience, but the workers would rather chit chat and goof around than service the people of Philadelphia. 

That this remark as you wish and use it to your advantage not your disadvantage. 

You can be a part of revitalizing a truly historic city that holds a special place in US history.

I do not invest there, too far from me now, but worked there for 10 years.  Its a nice place to live and work.  Still remember the first time I had to do income taxes and the form was a post card, which was amazing to me, having moved there from CA!

- Cash Flow and Appreciation in one investment (allegheny west, strawberry mansion, brewerytown, cobbs creek)

@David Smith Not sure about jersey or NY, but I used this Crime Map Tool for Philly when I was first getting to know the city. Philadelphia is very block-by-block. There are several neighborhoods that we invest in throughout different parts of the city (Allegheny West, North Philadelphia, Port Richmond) but we avoid certain blocks because of crime/safety.  

Originally posted by @Alex Capozzolo :

@David Smith Not sure about jersey or NY, but I used this Crime Map Tool for Philly when I was first getting to know the city. Philadelphia is very block-by-block. There are several neighborhoods that we invest in throughout different parts of the city (Allegheny West, North Philadelphia, Port Richmond) but we avoid certain blocks because of crime/safety.  

What do you think about Norris Square area?Would you recommend that area for investment?

 

@Alex Capozzolo @Deniz Eker Norris Square is solid. The more south you are the higher the price point but you’ll be able to attract a higher class tenant than if you were closer to Lehigh, but the price point is lower there. And like so much of Philly some blocks will be better than others. All depends on your goals. 

Originally posted by @Jon Sanborn :

@Alex Capozzolo @Deniz Eker Norris Square is solid. The more south you are the higher the price point but you’ll be able to attract a higher class tenant than if you were closer to Lehigh, but the price point is lower there. And like so much of Philly some blocks will be better than others. All depends on your goals. 

How about Olde Kensington ?

 

@Deniz Eker   what are you looking for in an investment? what are you trying to achieve? what is your risk tolerance? the prices in that area appreciated incredibly over the last few years - I invested 3 years ago. Philly is wonderfully varied and dynamic - from safe and boring investments to risky, from turn key to new construction...