All Forum Posts by: Robert Peruzzi

Quote from @Eric Greenberg:

Hi Robert,

I would be very very cautious abput targeting distressed areas in Philly. There certainly is money to be made in those areas but its not what I would tell a first time landlord who doesn't actually know the area. 

Since you live close, drive by some of the areas you have targeted and see for yourself if you truly want to be in these areas. Again you can make it work but like Kevin said above, make sure you have an amazing PM that works heavily in the area you plan to buy in. 

Thanks Eric for the word of caution. I lived in Philly for 10+ years during and right after college, spending much of my time living in or around areas that were distressed or not much further along on the redevelopment cycle. I know how rough they can be which is why I need a strong property manager. 

Thanks all for your input and insights, I'll definitely be putting my due diligence into property management selection. Doesn't matter how good of a deal I can secure if my properties are mismanaged. 

Hi everyone, I am looking to start investing in multi-family in the greater Philly metro area and am looking for property manager recommendations. I live about 45 minutes away from center city and have small children, otherwise I'd try to self manage. 

Focus is cash flowing properties in depressed neighborhoods, but hopefully with potential for future turnaround. Please reach out with any recommendations or if this is what you do.

Thanks!