Where in Philadelphia for a newbie

[Bob Williams]

Hello Philly investors, I am ready to purchase my first property for a flip but I’m still deciding on a farm area. I’m looking to stay close to home so I was considering Mt Airy, West Oak Lane, or some where around there. Any advise would be greatly appreciated. Thanks

[Greg Bishop]

Hey Bob,

Congrats on making the first step.

Couple of questions if you don't mind.

That area is pretty good, especially for beginning investors. Right now that area is pretty affordable. Germantown, East Germantown are also good options. Each one of those areas have different attributes to maximize potential. Are you looking to just flip a property, house hack a live in flip? In my mind that would determine where I would invest.

Second, how do you plan on financing. Let's assume you'd like to buy cash. East Germantown is a very affordable area. If your looking to house hack Mt. Airy would be a good option with long term potential.

Also sourcing is important. If you have an off market source that's probably best right now. If not, You should get an agent that invests themselves. It'll save you the most amount of time and frustration. Hope that helps. If you have any more questions PM me. Also if you'd like to meet I'm local in the area too and invest exclusively in the NW.

Cheers,

Bishop