Deal Sourcing - Deal Analyzing Philadelphia

[Sean Banilivy]

Hi everyone! I am currently looking for rentals in Philadelphia, and I am wondering what others feel are the best sub-markets for buy and hold rentals. I have been told that Fishtown is a great area for young professionals, but prices are relatively high in this area. Another neighborhood I've been told is an up and coming area is Brewerytown. It looks like crime is higher in this neighborhood, but is mentioned as being one of the best sub-markets for investors in numerous articles. Does anyone else have rentals in Brewerytown? If so, what are they renting for?

My goal is to have an ARV of $140K to $180K once we are finished renovating.

Other markets that I have driven around and have high hopes for = Cobbs Creek, Germantown, Olde Kensington.

I am looking for an area with the highest possible (RtP) = (Monthly Rent x 12) /Purchase Price. I am also looking for an area that has room for appreciation over the next 3-5 years, but this is less important to me than monthly cash flow. I would love to hear where other BP members are investing in Philly, and why. Looking forward to a good discussion!

Thanks!

[Joseph ODonovan]

@Sean Banilivy Exactly what @Sheryl Sitman said but let me add this. A $180K ARV will not get you into Fishtown or Brewerytown. It may get you into Germantown and will definitely get you into Cobbs Creek. Another neighborhood to look at is Mantua, just north of Brewerytown. Or some pockets north of Temple. Check out the 19121, 19122 and 19132 zip codes. Good luck!