Philadelphia Investment Property Less than 200K

[Thifen Mauger]

Hi All,

I bought a single family home here in Newark Nj about 2 years ago and am originally from New York City. I have been doing some research and saving over the years since purchasing my first home and want to invest. I was considering Baltimore due to the affordability but then I saw that it has high vacancies and I don't want to deal with that. That is why I am considering Philly as it is close to me and affordable as well, plus I am more familiar with the city landscape than Baltimore. I am looking for a single family (or multifamily) with 3 bedrooms or more and primarily want to target renters who are college students. I see various single family brick buildings for less than 200K and in good shape with renovations etc. Does anyone have a real estate contact or can someone let me know if Philly is indeed a good market to go after? From a business standpoint Philly has been growing and the college town aspect is growing as well so for me these are good indicators.I am looking to put down about like 20% since I will stay in my current home.

Feel free to chime in with thoughts whether good or bad! 

[Troy Sheets]

I'm building new construction MFH in University City/W. Philly areas that are in decent proximity to the hospitals, universities and biotech/pharma employers. I prefer not to rent to undergrads but grad/med students and hospital/lab/pharma employees make amazing tenants. The area I'm building in is a 15-25 minute walk, 7-15 minute bike ride, and a 6-10 minute car ride to all the hospitals, universities and two new office/lab/biotech high rises going up in the area. I'm a 15 minute walk, 6-8 minute bike ride to both of these places. I'll link to two new buildings coming to the area but if you look at https://schuylkillyards.com/de... there's even more happening all in a very small area. 

From the U City Square site linked to below: 71% of residents walk, bike or take public transit to work. 75K jobs in University City District and 260 restaurants. Love these numbers. 

https://ucitysquare.com/

https://www.phillymag.com/heal...

I have projects in other areas of the city but this area is very exciting for the long term growth potential and availability of MFH zoned vacant lots that support decent size new construction.