All Forum Posts by: Jeremy Chaudet

Hi @Jason Kim, I buy in Cobbs Creek in West Philly. It is a great area for rentals. 

Hi @Andrew Bateman, I disagree with @Account Closed, properties in Philadelphia can still cash flow in desirable areas. I own a portfolio with properties in Manayunk & Roxborough which all cash flow nicely. My tenants there are all young professionals and college students. You might have to add some sweat equity, but there are deals to be had in Philly. 

Hi @Jonathan Yeung,

I think that it is important to buy where the numbers work. Philadelphia is not too far from NYC so you can easily drive down to Philly on the weekends if needed. Properties in Philly cash flow well and have a much cheaper entry-point. 

Hi @Roman Melnyk, I own a few rentals in Parkside. It is definitely not a Brewerytown or Point Breeze yet development wise but don’t we all wish we could have bought at the bottom of those markets? Right now the area works well for me with the rentals that I own and they cash flow nicely so I am happy. Any appreciation will just be a bonus but I definitely feel like there is a lot of potential for the neighborhood which is why I am a Parkside buyer.

Does anyone have any experience with senior shared housing? I have come across a company who focuses on one story ranches and customizes them to make them senior friendly and it sparked my interest. The rooms are rented to seniors who prefer not to live alone. With the influx of baby boomers retiring this seems like an interesting strategy. 

I would imagine that in certain areas you need a special type of license or zoning to rent rooms?

Marketing seems like it could be a challenge if seniors have trouble with technology and internet? 

Thanks!

Hi @Blake M.,

I like Manayunk & Roxborough and have had success investing there. They are definitely nice neighborhoods and I think one of them was recently ranked as one of the safest in Philadelphia. After having lived there for four years, it is definitely a desirable area. Manayunk main street is great too and attracts young professionals/college students.  My out of state investors tend to like it as well due to all those reason which make it easier to manage. IMO, The price to rent ratios are going to beat any other A/B+ neighborhood in Philly. With the type of tenant you get, I rarely have any issues with rent. If you have any questions on the area feel free to reach out.

Hi Dylan, 

I personally don't wholesale but my go-to wholesaler in Philly is Property Buyers Connect. I have found some of my best deals with them so I highly recommend. 

Good luck!

Property taxes in NJ seem to kill any buy and hold deal. I prefer buying rentals in Philly with low property taxes and higher returns. 

Hey @Scott Trench,

You’re missing a great city on your list—Philadelphia, PA. Philly has so many options to invest with great cash flow and appreciation potential as many parts of the city are undergoing significant revitalization. Philly is a prime location roughly midway between New York City and Washington, D.C.

University City has a lot going on, checkout this link that explains the neighborhoods long term plan: http://www.philly.com/philly/business/real_estate/...

This link will show you the exact projects going on in University City: 

https://philly.curbed.com/maps/university-city-phi...

This study just came out showing that the Philly metro must add 38,000 apartments by 2030 to meet rising demand: https://philly.curbed.com/platform/amp/2017/7/18/1...

@Frank Chin Thanks for sharing that story. Living in Philly and working in NYC could very well become the norm as public transportation improves. 

If you're familiar with the Hyperloop, it would take 29 minutes to get from DC to NYC with stops in Baltimore and Philadelphia. Phase 1 just got approved for construction in Maryland: https://dc.curbed.com/2017/10/23/16523990/elon-mus...

https://www.nytimes.com/2017/07/20/business/elon-m...

Who knows how long this will take to complete, if at all implemented. But its fun to dream!