Multifamily investors in or around Philly area

[Yazeed A.]

Hello everyone, 

I'm a 20 year old REI in Northern NJ looking for people in the Philly area that invest in multifamily homes. I'm considering moving to Philadelphia after I graduate so that I can invest in my first multifam/house hack. I would love some genuine advice from investors around Philly because I am currently researching the market there and would love to absorb some knowledge through an investor's experiences.

Thank you, much appreciated!

Yazeed Atieh

FDU Civil Engineering

[Michael Campbell]

Hi Yazeed,

While I'm certainly not the most experienced investor (I currently own a duplex - living in one, renting out the other unit), I'd be happy to offer some advice on the Philadelphia area if you have any specific questions.  I've been keeping an eye on the properties that become available as I'd like to purchase my second property soon.

[Shawn Washington]

Originally posted by @Yazeed A.:

Hello everyone, 

I'm a 20 year old REI in Northern NJ looking for people in the Philly area that invest in multifamily homes. I'm considering moving to Philadelphia after I graduate so that I can invest in my first multifam/house hack. I would love some genuine advice from investors around Philly because I am currently researching the market there and would love to absorb some knowledge through an investor's experiences.

Thank you, much appreciated!

Yazeed Atieh

FDU Civil Engineering

 Hi Yazeed - 

I'm an investor and agent in Philly. Feel free to reach out to me anytime. I'd be happy to answer any questions and assist with projects.

[James Brand]

Hey @Yazeed A.!

I am closing on a triplex in South Philadelphia at the end of this month. I am very excited about the potential the property offers. There are some things I have noticed about the Philadelphia Multi-family market though. A property in good shape, priced well will go fast having several offers in the first week. It is for this reason that I believe properties in need of some work are better targets. You will be local, so you will be able to manage any changes/updates made to your property, and the value you add through small renovation will force appreciation on your property and likely make it easier to rent.

I would spend the coming months getting to know the different areas in the city to figure out where you would like to invest. 

Best of luck!

-James

[Jamal Pitts]

@Yazeed A.  In my experience I noticed that college/university area's seem to be recession proof.  No matter how the economy is doing they tend to hold there value and offer good rental demand.  I have noticed that properties around the Temple area are starting to peak due to the over saturation of new construction.  Bottom line do your research!!!  Feel free to reach out to me if I can be of any assistances.

[Yazeed A.]

Hey @Jamal Pitts, what do you think about Manayunk and University City?

[Jamal Pitts]

@Yazeed A. Both of those area's are good for rental's and flips.  I know a couple investors that are doing well in both locations.  I personally invest in University City, never did anything in Manayunk on the investment side; but I have sold and appraised a nice amount of Real Estate in Manayunk.