New to Philly- Looking for local market advice

[Steph Fredericksen]

Hello All- I am an out of state (Denver) investor looking to network in Philadelphia. I'd love to see what you guys think about the current market and make some new fantastic contacts! I am all about collaboration!

I am looking at getting into the market <100k, single family, probably fix and flip, but maybe buy and hold? Not sure- that's where I need some local knowledge. (*Note, I am not asking for these deals, just identifying what type of market research I'm doing. ) I know there's a lot of schools in the area- there should be a strong student rental market, no?

Also- does the market seem to feel competitive for deals? Or does it seem like there's plenty for all?

Thanks for the great feedback- Feel free to add me as a colleague! 

[Igor Messano]

I am with @Brendan Markle,

I am on my second property in Kensington, one purchased for 52K (great deal) and one closing this week for 60K. They will cash flow amazingly at 950 and 850 monthly rent, specially given the little I had to invest. The secret really is tenant screening and being a good but firm landlord. If your tenants respect you because you are firm but also know that you will take care of your responsibilities as a landlord, they will treat you and your property much better.

Warning: Kensington and many parts of Philly are block by block neighborhoods and you should do your research very well. I would not go anywhere near some areas of Kensington in the near future.