How to determine target area when purchasing "buy and holds" in Philadelphia

[Michael Palmore]

I was told that a good target area to purchase buy and hold where areas that have the most jobs or near college campuses. The area with the most jobs is center city and that's way out of my price range and the same with college campuses. Not to mention near colleges there are a lot of "for rent" signs which means the supply is high in that area but not necessarily the demand. So does anybody have any other advice?

[Ethan Giller]

You can make money renting in any area, so long as you buy right.  In higher-end neighborhoods, should expect better quality tenants, lower cash flow, but potentially more appreciation.  In lower-end neighborhoods, the reverse is true.  So your question of where to target really depends on your investment goals, your time horizon, your capital availability and financing options, etc.

In my personal opinion, I would advise you to stay away from student rentals in Philly.  Right near Penn is very expensive, and many other schools (e.g. Drexel, Temple, USP) are building more student housing to discourage students living off campus.