New to Philly Market – Planning My First BRRRR Here

[Bo-Yu Chen]

Hi all,

I’m relocating to Philly soon and wanted to introduce myself and connect with the local community. I’ve been investing from LA, mostly in turnkey rentals, so I’m excited to be more hands-on this time around.

My current goal is to grow my knowledge of the Philly market and build long-term working relationships with reliable local professionals. I’m aiming for a small, possibly live-in, flip-to-rent in a safe and up-and-coming area. I’m finalizing my buy box now and plan to start speaking with agents over the next few days.

If you have any tips or trusted team recommendations, I’d really appreciate it. Also happy to connect with other local investors — always open to exchanging ideas and experiences.

Thanks,
Bo

[Alan Asriants]

Hey Bo, Welcome to the Philly area! I’m an agent and investor here and would be happy to connect and chat about the market and your buy box.

I always emphasize the following to my clients:

1. Location – The number one rule in real estate. I always aim to buy in established neighborhoods. Since I’m not a gambler, I focus on reducing risk as much as possible. It’s well known that buying in the right location delivers the best long-term results.

2. Property type and age – Be careful not to fall for a home that looks good on the surface but is essentially “lipstick on a pig.” Older homes can be great, but if the layout, mechanicals, and capital expenditures haven’t been updated, you’re likely looking at a full gut rehab. By contrast, a poorly maintained home from the 1960s or newer often just needs major cosmetic updates, which are much easier to handle than full mechanical overhauls.

3. Who lives there? – This determines your rental audience. Over the past year, I’ve seen increasing demand for townhouses with 3+ bedrooms and 2+ bathrooms—more so than the traditional 2-bed, 1-bath setups.

Feel free to reach out anytime!