Updated almost 10 years ago on . Most recent reply
Looking for help selecting markets
Hello everyone,
I am looking to begin acquiring rental properties and am saving up for my first acquisition. We just purchased our primary residence a month ago. I am in the Philadelphia area and I am looking at a target area within a 1.5 hour drive of 19038. I have come across Reading and Pottstown and am finding some attractive properties (good cash flow) relative to here in Montgomery County. I have also seen what look to be good deals in the Elton, MD area. I am looking for multifamily or small apartment buildings, and am working at saving up for the down payment and rehab/reserve fund. Any thoughts on investing in Reading or Pottstown areas, or in northeast MD or Delaware, or have any ideas of other places to look in my immediate area? My goal is long term hold and working to move up to more and more units with time. All help and advice is appreciated!
Most Popular Reply
Joe,
I'm going to be hopefully acquiring my first property by end of this year or earlier. I'm looking at multi-units in Philadelphia to try to save as much for my next property. Any advice on areas you're seeing them giving good cash flow like you mentioned? Everything I'm seeing are either really expensive of a price point or total re-construct jobs. Any advice is appreciated as I'm still figuring this all out. Thanks!
Kevin