Has the 50% rule or 2% rule worked for you in Philly?

[Patrick Duque]

Hi All,

I am interested in investing in a rental property in either Philadelphia or it's surrounding suburbs. I am still in the learning period (reading books, going on this forum, articles, etc.) and have not yet pulled the trigger on a property yet. As I was reading the BP book on Rental Property Investing, I started wondering whether the 2% or 50% rule actually works for this area? Or if these rules don't work, is there a "rule" out there that can help with filtering out potentially good deals?

Thanks!
Patrick