What are your thoughts for Philadelphia market to consider as cash flow / growth market. B or B+ neighborhoods?
There are many pockets within Philadelphia with great opportunity for rentals. I guess it depends on a multitude of parameters. Long term/short term hold , cash flow/asset accumulation, property appreciation/protection, and price range are just a tip of the iceberg.
I believe that there are opportunities all over the city and surrounding areas. If you're looking for affordable cash flow there areas such Mt. Airy and the NE, if your looking for stable properties with average appreciation there's always the NE section of town, and if your looking for speculative appreciation there are several areas such as Kensington and Brewerytown.
Again there are a multitude of opportunities here you just have to know what you are looking for.
If you think you need any further info please let me know. I'd be more than happy to help.
The short answer is Yes! Philadelphia is pretty big, so understanding which neighborhoods will be key.
Like the others have said, YES. It is a great market for rentals. It is a city of neighborhoods, so you need to have a plan of attack. But there is something for everybody in Philly. I'm a local Real Estate Agent, feel free to reach out if you have any questions.
Hi, I'm a newbie currently looking at a triplex in Fairmont/Art Museum area, 1 unit= commercial /2 units =2/1. Fully rented for at least a year and the cap rate is 6%. Based on 50% rule and Cap rate, it points to not being a great deal. BUT, the positive would be:
+ Catagory A neighborhood with stable renters
+ Betting on property value will increase over 10+ yr given the neighborhood
+ Turnkey rental, leases in place till 2018
Would these positives balance out the lower CAP rate? Any input would be greatly appreciated.
Depends upon your partner on ground. With whom you are working ?
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