Thoughts on Buy & Hold in Brewerytown, Philadelphia

[Lindsay Denny]

Hi all,

I've recently switched my investing entry strategy and am currently looking to buy & hold my first multifamily property in Philadelphia, PA with a goal of house hacking. I'd like to buy in an up and coming neighborhood, but also one that I'd personally like to live in for at least a year. 

I've considered West Philly with close proximity to the universities but I'm currently focused on the Brewerytown neighborhood. I've spoken to several investors who believe Brewerytown/Germantown are starting to show similar trends that Northern Liberties/Fishtown did 2+ years ago. 

Any investors have thoughts on this area or other recommendations? I understand South Philly is hot and I may invest there later, but it's too far from my extended family who live in the northern suburbs for my own residence initially.

Thanks for any insight you can offer!

Lindsay

[Troy Sheets]

Originally posted by @Lindsay Denny:

Hi all,

I've recently switched my investing entry strategy and am currently looking to buy & hold my first multifamily property in Philadelphia, PA with a goal of house hacking. I'd like to buy in an up and coming neighborhood, but also one that I'd personally like to live in for at least a year. 

I've considered West Philly with close proximity to the universities but I'm currently focused on the Brewerytown neighborhood. I've spoken to several investors who believe Brewerytown/Germantown are starting to show similar trends that Northern Liberties/Fishtown did 2+ years ago. 

Any investors have thoughts on this area or other recommendations? I understand South Philly is hot and I may invest there later, but it's too far from my extended family who live in the northern suburbs for my own residence initially.

Thanks for any insight you can offer!

Lindsay

 @Mark Redmann thanks for the mention! I'm not sure I'm an expert in anything but I do happen to be house hacking a MFH in Brewerytown as well as rehabbing and building new construction both for rent and sale in Brewerytown (along with my partners). What can I say about Brewerytown without sounding like a cheerleader? I love it and it's just taking off now. There is still a ton of opportunity here and I firmly believe it'll be just as hot as Fishtown in the next few years. 

Any questions feel free to ask! For the record, I do feel Germantown has plenty of potential in the right areas, I just happen to not know the first thing about it and, out of sheer laziness, haven't bothered to try and figure out where those areas are :)