All Forum Posts by: Kathryn Krueger

@chris price - sent you a PM, in case you didn't see it

@Lori Spadaro Jumpstart Germantown is a fantastic program, and you'd be a great candidate. I'd encourage you to go ahead and join the Jumpstart developers network on facebook - lots of interesting things being discussed there. There is also a series of training videos available on their website if you hadn't seen those yet, which I think you would find really useful.

I'm new at this myself, but please feel free to reach out to me directly if you'd like to chat more! Good luck to you!

Great input @Angelo Goodwin. I'm super excited about Germantown in general. I missed out on a couple of good properties there over the summer and I'm bummed. I'm looking at Germantown for my next purchase. I really feel like the area has alot going for it. But it is definitely kind of block by block, although you can absolutely say the same about E Mt Airy, which people tend to consider 'better'.

Do you own any properties in Germantown?

Hi Donna! I actually did NOT end up purchasing the Germantown homes, the owner was being too greedy. I believe they're actually still on the market :)

Early Sept I bought a 2 bed condo in Rox and a rowhouse in E Mt Airy. I just finished the work on the Mt Airy house and put it on the market earlier this week. The response has been really strong, so I am relieved. I was a little unsure I had hit the right price on the rent, and I wasn't sure there would be strong demand at this time of year. Fingers crossed I'll have that one rented soon.  The condo in Rox will be ready in the next few days and I think that one should get snapped up pretty quickly.

What a learning experience this has been!! From dealing with all the contractors to all the ins and outs of getting a house ready to market and then finding tenants. Overall it's gone pretty smoothly. But it's taken lots of time and energy. So be prepared for that! I'm finding it very rewarding. I'm ready for some checks to start coming IN. I feel like all I ever do these days is write checks :)

@Brian Bond Regarding Germantown, on a personal level, I see that the area has a lot to offer - it's one of Philly's most historic areas and still retains a lot of that charm, it has great transportation links to center city and beyond, it's urban in character but still has some great greenery, strong (although needs improving) business corridor. Then it has all of the things that some of the great NW Philly neighborhoods have going for them, but at a much lower price tag - great sense of community and genuine pride in belonging to that community, diversity, and proximity to the park. I see a lot of folks like myself wanting to be in Mt Airy but not being able to afford it, and moving in to west Germantown. That's becoming a hot area. There's also some serious commitment to revitalize the area, including Ken Weinstein making a big push there currently. I like Germantown, and I am interested in investing in the future of the neighborhood.

I am mostly exclusively looking there now because I think there is some real value opportunity. However, I am still keeping my eye on Mt Airy, Manayunk, Rox, and to a lesser extent East Falls, mostly just because I know so little about the area so it kind of scares me a bit. I think West Philly is a great option for you. I'd be looking there more seriously if I lived closer and knew more about the area, but I almost moved there before I bought my house in Mt Airy and would definitely like to keep an eye on that area for the future.

Thanks for this input folks.

@Igor Avratiner I am interested in section 8 as well. Great advice, thank you.

@Joe S., I've got my eye set on the main line as well, so let me know if you see anything amazing out there that you have to pass on :)

Thanks all for this advice, much appreciated.

@Joe S., thanks for the input. The duplex is actually a set of neighboring rowhouses on Duval, is that the property you looked at? The numbers do look good. I met one of the owners and both tenants last night. The rents are perhaps a bit higher than they should be, but I just looked at all the recent rentals in the area and they're kind of all over the map. I'm keeping the rental numbers a bit low to be conservative when looking at the returns. 

There's definitely some question about tenants in Germantown, but I think in general I'll be able to find decent tenants in that area. But yes, that is a concern, although a very small one for me I think.

This property seems low risk, in that they will be low maintenance for a while since they've both been so recently and completely renovated, and they're both rented. In general, I'm keen on Germantown, there's a definite push right now to improve housing in the area, and I think it's just getting more and more attractive to folks who are liking all the great things about NW philly but are getting priced out of Mt Airy. I know several people who live in Germantown for that reason. I think in terms of buy and hold, it's a positive situation.

Good luck in your search. I'm personally looking to close on something soon, so fingers crossed.  Trying to remind myself that whatever I buy doesn't have to be the BEST opportunity in the city, just a GREAT one. At some point I have to pull the trigger and just move forward. I have capital to continue buying. But the first purchase is a definitely a little scary!

Thanks guys, I appreciate the advice!

@Antoine Joseph, have you had any success with rentals in Germantown yourself?

Hi folks! I'm a new investor looking at buying a duplex or single family in NW Philadelphia. Right now I've been concentrating most of my energy on Germantown. Does anyone have experience investing in this area?

I live in Mt Airy but am not hugely familiar with all the nuances of Germantown. It seems similar to Mt Airy in that it can vary so much block by block, etc, and I'm trying to get a handle on what areas / blocks of Germantown are stronger investments. I'm looking to buy and hold, so will be wanting a strong rental market with lots of potential for solid tenants. Does proximity to Germantown Ave matter? Proximity to the train? Parking? Number of bedrooms? Etc. Generally west Germantown is looking more attractive, but even within that there is huge variation. I'm keen on a duplex near Johnson and Germantown Ave but am not very familiar with that pocket. It's one of the best houses on the block, which concerns me a little.

I believe that Germantown presents a great investment opportunity, I love the community and I feel that it's making some great strides, I just want to make sure I'm focusing on the right areas.

Thanks so much for any advice!