Duplex near Philadelphia

[David K.]

Hello BP community! Need your advice and Or blessing please! Just sealed the first deal ever, but still have a way out if I wanted to... Duplex in a nice school, wanted area in suburban Philadelphia ffor 250k, with potential cash flow around 500 monthly, about 1000 per unit. The prices around philly are inflated and so I know I am buying at the top but still feels ok to me. What do you guys think? All opinions are appreciated! Thanks David

[Joseph Scorese]

Hi @,

Welcome to BP!

I would say your numbers really all depends on the neighborhood and long term expectations. Some are some pocket neighborhoods that are sleepers where the cash flow is very steady and appreciation is at median pace based on the more busier neighborhoods. Just walked through a real nice duplex in Northeast Philadelphia which had good numbers but was a long term hold cash flow property at around $201k.

You need to focus on finding very active real estate agents that are connected to the multi family market (2-4 units) in these type of scenarios.

Let me know if you have any questions.

Regards,

Joe Scorese