Philly Real Estate
Philly Real Estate Opportunity
The Philly Real estate market offers opportunities for real estate investors of all levels. I find that there is healthy competition and opportunities in Philadelphia. When you drive around residential neighborhoods in Philadelphia you see a lot of “We Buy Houses” bandits signs. A number of older homes make up a significant portion of the market’s property inventory. The age of these houses provides opportunity for real estate investors. A lot of these properties are distressed. There are a fair number of these distressed properties sprinkled throughout city of Brotherly Love.
If you are a real estate investor and willing to show these properties TLC, it can be very rewarding. Philly still remains a desirable place to live. It is a collection of different neighborhoods amidst a buzzing metropolis. Philadelphia is a key part of US history, but also has a ever-changing skyline. The combination of under market value houses and desirability makes Philadelphia very enticing.
Areas of Philadelphia
Investing in Philly is a very appealing, but that does not mean you do so everywhere. Like a lot of other places, there are some areas of the city that are more desirable than others. Where you invest depends also on your strategy or niche. Your operating area could be larger, if you are a “buy and hold investor” seeking passive income. According to Trulia(2017), 43% of Philadelphians are renters. There is opportunity for investors that buy one house and rents it. Likewise for someone who buys a block of houses and develops it. Wholesaling real estate is also very applicable. Rehabbing, perhaps requires the most research into neighborhoods. Trulia is a good free resource to start your research. Preferably, you want to invest in safe neighborhoods with good schools. Transition neighborhoods or those on the cusp, like Fishtown, Grays Ferry, and Kensington are also attractive for rehabbing.
See Curbed Philadelphia for more example neighborhoods http://philly.curbed.com/2016/10/26/13322180/philadelphia-neighborhoods-to-watch
See more on Philly Real Estate
https://www.trulia.com/real_estate/Philadelphia-Pennsylvania/