New Investor - Philly & Surrounding Areas

8 Replies | Philadelphia, Pennsylvania

@Jack Korbutov welcome to the community! Southeast PA is an excellent market for BRRRR rentals. Feel free to reach out if you'd ever like to discuss the opportunities in our market.

All the best!

@Jack Korbutov Welcome to the market! You're certainly entering at a hot time. I would recommend sticking to off-market properties, the MLS inventory is combed through daily and nothing sits for longer than a few hours if it's good.

In Philly, I would say west, southwest, and parts of North Philly. I'm curious what level of rehab your comfortable ie. full guts. But there are great opportunities outside of Philly as well. 

Many areas of Delaware County provide great BRRRR potential, including, Darby, Collingdale, Sharon Hill, Glenolden, and Lansdowne. With low purchase prices relative to rent, and very solid ARV values you will pull most of your money out on the refi.

Hope this helps you in your search, certainly reach out if you have any more questions!

@Mike Ost as with real estate anywhere, it totally depends on property condition and neighborhood. Philly is very block by block so crossing a major border could entirely change the acquisition price and ARV. I'll DM you to discuss further!