All Forum Posts by: Yechiel W.

Hi Nicholas,

Philly is chalk for of crime and I have been to Allentown/Bethlehem Leigh high valley areas a number of times. I got a poor impression of the area. I guess the grass can appear greener on the other side, but this area does not seem to be up and coming, good schools, in demand etc. If I am incorrect I am happy to hear your or anyone else's view on these areas. 

Hi brannon,

I am local and think about this from time to time. Philadelphia is laden with Crime, drugs, homelessness, looting. Unfortunately it's creeping into every area including some in the outer boroughs. Perhaps for flips cam be lucrative as there are lots of decapitated row homes. As a long term hold and Rent does not seem ideal. I have spoken to several of my coworkers whom have nightmares of section 8 tenant's trashing the place and not paying rent for over a year. So called the "professional tenant" I have read the 30ish pages of landlord tenant laws and it seems unfavorable to landlords. Perhaps you have a better experience and I have the wrong perspective. I would like you get your insight. 

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

Local and out of state are 2 different things. Especially when starting out, I feel it's best to decide on a strategy and zero in on it. Ie decide if local vs non local is what you want to focus on. The analysis paralysis is lesser when there is less areas to simultaneously analyze. I have the same issue as well. I wish you the best of success! 

I'm kind of in the same boat thinking this over. Section 8 tenant's can be good or bad. The question is what kind of tenant's are attracted to your location? How is the crime rates? Schools? Drug issues in the area? I heard on the BP podcast a guest say your don't screen for great tenant's, you buy property for which good tenant's want. (Absolutely later screen) 

I'm looking for a property management company in Philadelphia. I'm looking in NE Philadelphia, and lower Bucks County. I have been looking into BMG and Mcshelly.   

Has anyone looked into surrounding areas like Absecon or near Stockton university? 

Thank you Joe. I ended up just selling it for $1000. Feel unburded by an empty pipe dream. 

Wow. What a market. Thanks for sharing. What city is this property in? 

I have asked this very question to a mortgage broker whom told me that yes. They look at your payment installments as your monthly debt burden to calculate the ratio. I'm not sure what other brokers do.