Brewerytown PA

[Jason B.]

I have an opportunity to buy in Brewery town. This would be for a rental so a buy and hold. I do not know much about the different parts of the city and hoping someone can help. Is this a good area for buy and hold? I do not have details of the home yet but I do know it is a 4/1 and either on or right off of 29th St. Any feedback in regards to this would be of big help.

[Paulette Midgette]

Hello All,

I was born and raised in Philly. Spent time going to school, working, living, and hanging out in many areas of the city. I have also invested in different areas of the city (Old City, University City, Mount Airy, and the Northeast).

Philadelphia is an interesting city for RE investing. Real taxes are low and it appears from my research that the cost of doing business (license fees, etc.) is also low comparatively. In addition, about 52% of the population in Philly is homeowners. All, setting the stage for a good and steady rental market.

With respect to up and coming neighborhoods, I would suggest not limiting yourself to any one area. Explore them all as much as possible using online search tools and BP. There are good deals to be had in all areas of the city. Depending on your budget, the type of property you seek, and the type of desired tenants, properties can be had in Philadelphia from as low as $60,000 (well, some even lower than 60 but definitely not in desirable areas) to upwards of a million dollars.

A great resource for learning about Philadelphia neighborhoods is the Philadelphia Planning Commission (see link below). Here you will find district plans outlined (land use, future development opportunities, urban design) for the entire city through 2035. Note each district is made up of a number of individual neighborhoods.

http://www.phila.gov/CityPlanning/plans/Pages/DistrictPlans.aspx

Another great resource for learning about what is going on in Philly neighborhoods is a blog called Naked Philly. Take look you will quickly see what I mean.

http://www.ocfrealty.com/naked-philly

If you have any questions, please feel free to e-mail me.

Good Luck