Hi all, me and my girlfriend are looking for a buy-and-hold investment in the next few months in the Philadelphia area. We found the Fox Chase area especially attractive due to the large amount of green space, high healthcare employment, and lower poverty. Does anyone know brokers who have an expertise with this area and investors like ourselves?
Excited to be on BiggerPockets and make our first investment!
Hi Jeffrey, I'm a real estate consultant in Philadelphia. I would say that Fox Chase is absolutely neat and gorgeous. A lot of investors like that area and yes, you can do a rental over there pretty easier. However, I would be honest and say that it may not give you the highest return compared to the same amount of money you put in for a different area that has room for you to appreciate the property. Properties in Fox Chase is extremely well-maintained. Contractors don't find a lot of things to fix up and rise the price for you. On the contrary, if you invest in a different region, say North Philly that has very low purchase price, close to Temple University that you can rent it out and most importantly, the property and area have room to grow. The equity you'll get is going to be much higher than that in Fox Chase. This is my personal insights. Let me know if you have any questions.
@Victoria Pham Nice to meet you Victoria. Thanks for your insight, that makes a lot of sense! We'll definitely look more into North Philly and see if those areas meet our goals.