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Updated about 7 years ago on . Most recent reply

User Stats

91
Posts
20
Votes
Vee Vu
  • Real Estate Agent
  • Denver, CO
20
Votes |
91
Posts

WHY should I invest in Philadelphia (PA), Baltimore (MD)?

Vee Vu
  • Real Estate Agent
  • Denver, CO
Posted

Hi everyone, I'm moving to the east coast soon. I'm looking at 2 markets right now for BUY - FIX - HOLD. The pros at these markets are the housing price is very affordable and job growth is +. However, there are many cons which make me concerned:

Philadelphia, PA: population growth rate is slowing down, high crime rates, low median household income, etc.

Baltimore, MD: the population is decreasing fast, high crime rates, negative home appreciation the last 10 years, etc.

I have a saving about 100K - 150K to invest. My strategies will be buying 2 properties under 50K each, rehab, rent out, and refinance. My questions are:

1) Is it possible to get B-class properties in these areas with the money I have right now? How? Can anyone recommend any zip codes?

2) Should I still step into these markets? Any other pros and cons I did not see yet?

3) I would love to connect with investors, realtors, wholesalers, contractors, lenders in these markets. Let's hang out and learn from each other. 

4) Which other markets on the east coast I should take a look beside these 2? Why?

Thank you so much!

Most Popular Reply

User Stats

130
Posts
69
Votes
Etienne Martel
  • Rental Property Investor
  • Los Angeles, CA
69
Votes |
130
Posts
Etienne Martel
  • Rental Property Investor
  • Los Angeles, CA
Replied

Hey Vee,

I'm currently using the BRRR strategy in a few states right now so I have some experience. I know in Philly, one street can be a completely different market than the next one. I would cold-call some agents and get a better understanding of where you might want to invest your money.

1) I was looking into North Philly, since there is a new bullet train scheduled to be build through North Philly.

2) There is money to be made in every market, regardless of anything. Someone is making money in every market. You will have to do research and make a table of each city to compare and decide which route to take.

3) I am from California, but I do have knowledge about the BRRR strategy and passive income investments.

4) Watch out for the winter seasons!

Thank you 

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