Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 6 days ago on . Most recent reply

User Stats

1
Posts
2
Votes
Chris Mclaughlin
2
Votes |
1
Posts

New investor struggling to identify first market

Chris Mclaughlin
Posted

Hello! I am looking to do my first deal in 2025 and I have identified my buybox to be multi unit properties (2-4 units) in Philadelphia, under 500k (prefer under 400k), and do not require any renovations. I've chosen Philly because I am originally from there so I know the city and I have friends/family still living there that I could rely on in case of emergency. 

Unfortunately, as I have been analyzing properties in my identified neighborhoods, I haven't found anything that fits in my buybox and generates enough cashflow to justify the investment. I have recently started to wonder if I should look into other markets.

I would like advice - Should I continue searching in Philly given my strong ties to the city or should I start searching for new markets that generate more cashflow? Pittsburgh maybe?

  • Chris Mclaughlin
  • Most Popular Reply

    User Stats

    791
    Posts
    598
    Votes
    Jeremy Taggart
    • Real Estate Agent
    • Pittsburgh, PA
    598
    Votes |
    791
    Posts
    Jeremy Taggart
    • Real Estate Agent
    • Pittsburgh, PA
    Replied

    @Chris Mclaughlin Pittsburgh is cool. Good supply of multis ranging from about 60-125k/unit depending on bedroom counts and quality of the building/area. 1-1.5% rent/price ratios in decent neighborhoods for turnkey/close to turnkey. Can get above 1.5% but probably not in areas I would recommend being out of state having to rely on third party management. We just helped an out of state client buy a nice brick 4plex with 2BR units renting at $900 each for $250k to give you an idea of what would be considered a solid cash flow deal here. That was in a nicer pocket of a C class neighborhood. 

    • Jeremy Taggart
    business profile image
    DHRE- The Jeremy Taggart Team
    5.0 stars
    67 Reviews

    Loading replies...