All Forum Posts by: Nicky Lisewski

I'm an investor and agent. Personally, if you are looking for cash flow and appreciation, I look to the neighborhoods adjacent to the great areas for young professionals. Back in the day, Point Breeze improved due to spill-over from Graduate Hospital. Now, I'd look to Kensington rather than Fishtown.  Much of Brewerytown is past up and coming in my book, so I'd look to up into Strawberry Mansion. I've also got investors who have gotten good cash flow in Cobbs Creek in West Philly.

As far as rentals, I like to look at rentometer and Hotpads to see actual rents and current demand.

@Bhanu Kuna  I agree with Corby Goade's advice above.  I'd add that you should look for an agent who also is an investor.  

@Jack Morris I'm an investor and an agent.  As a new investor, the hardest thing is spotting a deal.  Especially in a place like Philly, that involves getting to know the neighborhoods, looking at a lot of properties, and running the numbers.  Back in the day, I must have looked at 50 properties before I bought one.  Do you have any specific areas you are focusing on?

FHA loans are designed for first time homebuyers, and you have a home. In order to get around that, you need to prove some change in circumstances such as in this case that you need to move closer to your job. I'm a realtor and have plenty of clients getting FHA loans in Philly and elsewhere. I'd suggest talking to more mortgage lenders and or looking in PA but closer to your job - Bucks etc.

They are real estate investment educational groups.  Lots of local investors belong

Highly recommend DIG and Delco Property Investors for Delaware County.  DPI’s next meeting is next Tuesday and it’s great education and networking!  

Nick, your plan is very realistic.  The first property I bought was a house hack in Graduate Hospital.  Now I’m an investor and a real estate agent.  Have you been preapproved?  That’s the first step.  Once you know what you can afford, narrow down the neighborhoods you are interested in.
What’s your new job?  Do you have a real estate agent?  An agent can set up a search so you get notified the minute a property that meets your criteria comes on the market.  

Then run numbers and look at properties.  You’ll have to look at quite a few to feel confident to pull the trigger.  

Always happy to discuss Philly or real estate more.  

I highly recommend Delco Property Investors.  This month a district judge talked us through the landlord tenant complaint forms.  Always great local speakers and lots of collective knowledge to share

@HenryVargas 

I'm an investor as well as an agent. The first property I bought was a house hack in the Graduate Hospital area, and now we have properties in South Philly, Delco and Port Richmond.  So I think house hacks are a great way to get started.  What neighborhoods are you looking at?  

@Edwin Vela Welcome to Philly.  I'm an investor and real estate agent.  Do you have any areas in mind?  Always happy to talk real estate and Philly.