Morrisville, PA · Member since 2016 · 7 posts · 1 vote
Hello Bigger Pockets community! I currently reside in New Jersey and have selected the South eastern Pennsylvania market as where i would like to begin my real estate investment endeavors for many reasons such as real estate prices, tax rates in comparison to Jersey as well as proximity to my current job in the South eastern PA region. I am in the phase of doing the market research to understand the rental investment market/opportunities in the region. My ideal first purchase would be a duplex where i live in one unit and rent the other out. Any guidance with regards to the best rental markets in South Eastern PA would be greatly appreciated!
Real Estate Investor/Wholesaler · Philadelphia, PA · Member since 2015 · 757 posts · 318 votes
10y
As @Dave Lin Mentioned below your gonna need to get more specific with your area. I would assume your talking about the Philadelphia region based on your post? If thats the case you should know that Philly is a block by block city with multiple different neighborhoods. I always tell out of state investors to really do there homework before investing in area's they are not familiar with. If your looking for off market properties in and around the Philly area feel free to connect anytime.
Welcome to the site. Are you looking at the Philly area in general? I am sure some of the helpful bigger pockets who knows SE PA area is willing to help. You might want to post some specific questions for the members to answer. Good Luck!
Real Estate Investor/Wholesaler · Philadelphia, PA · Member since 2015 · 757 posts · 318 votes
10y
As @Dave Lin Mentioned below your gonna need to get more specific with your area. I would assume your talking about the Philadelphia region based on your post? If thats the case you should know that Philly is a block by block city with multiple different neighborhoods. I always tell out of state investors to really do there homework before investing in area's they are not familiar with. If your looking for off market properties in and around the Philly area feel free to connect anytime.
Morrisville, PA · Member since 2016 · 7 posts · 1 vote
10y
Thank you Dave and David! So far i have narrowed my research down to Philadelphia county (chestnut hill area), Montgomery county, Bucks county, Delaware county and Chester county. To your point David, i need to do a lot more research and hone in further on my target area.
Contractor · Chadds Ford, PA · Member since 2015 · 567 posts · 460 votes
10y
Hi Tolu Malik
Welcome to the site!
As you have already read, you should really start to hone in on exactly what type of investing you want to do and where you want to be. Those areas you mentioned are very different markets from each other.
Chester County is much more rural with bigger lot sizes and bigger values. I recently read that it is one of the top 100 wealthiest counties in the country. To me it is more of a flip market, except for a few small towns like West Chester, Downingtown, Coatesville, and Kennett Square (I know there are others but these are the ones I am familiar with) where there are plenty of renters.
Delaware county is more suburban with regional rail, buses, and closer to the city (except Garnet Valley and some others which act a lot like Chester county). I have not seen values going up for the most part in the last several years. Seems to be more of a buy and hold area where you should focus on cashflow.
The others I am not as familiar with. Philadelphia is definitely block by block and you should really do your homework before buying there. I don't know much about Bucks or Montco at all so I will not comment.
I hope this is helpful and please let me and everyone else know if you have more specific questions about areas. Good Luck!
What is your criteria? How many beds/baths? School Districts? A-D Neighborhoods? Budget? etc?
You can get something cheap properties in Upper Darby (in Delaware Co) or Norristown (in Montgomery Co) to multi-million dollar mansions on the main line (also mainly Montgo, Chester and Delaware).
Virtual Assistant · Philadelphia, PA · Member since 2016 · 39 posts · 0 votes
10y
Welcome,
Being born and raised in Philadelphia, I can definitely tell you to be careful of some areas in every part of the city. Since you are looking for a duplex, I would suggest you looking in the Northeast area if you decide on Philadelphia. Norristown or Pottstown would be your cheaper cities in Mont co. And Upper Darby in Delaware co. Chester County is definitely on the more expensive end. As mentioned, it's one of the wealthiest counties in the states. If you are interested in some off market listings around the city, feel free to connect with me as well.
Real Estate Investor/Wholesaler · Philadelphia, PA · Member since 2015 · 757 posts · 318 votes
10y
@Tolu Malik Those are very BIG area's my friend! Very Big!!! Besides research I suggest you get boots on the ground. Philadelphia county alone is very big, not to mention the 3 other counties you just mentioned. I suggest you spend your weekends down here getting to know the local market since your not that far away.
Morrisville, PA · Member since 2016 · 7 posts · 1 vote
10y
@David Bokman I guess i know how i am going to be spending my weekends over the next 2/3 months! Thanks for the suggestion
@Account Closed thanks for the great information. A buy and hold property is what i am looking for. I will take a closer look at Westchester, Downingtown, Coatesville and Kennet Square as well, and see if any of them fall within my criteria in my response to Percy.