looking to invest in Philadelphia.
I am looking to invest in rental properties in Philadelphia. Can anyone guide me as to the good areas for rentals. I would like to stay away from war zone (high crime) areas. Any in put would help as I live in long Island NY. Thank you.
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Hi @Michael Granahan
How are you and welcome to BP!
All depending on what your participating into the transactions. Are you rehab & holding, turn key purchases, Section 8, price points of purchase to neighborhoods and relate to some relevant crime stats an rental amounts that can be obtained. There are more than some initial factors to think about just because Philly is lessor expensive compared to the NYC area. Also, are you looking at multi's compared to sfr's. When a single unit is empty in any good place guess who is responsible for the mortgage.
Let me know if I can assist. I currently own a portfolio of properties in the Philly Market, Co Own a Property Management Company and a Mortgage Banker.
Regards,
Joe Scorese
- Joseph Scorese