Philadelphia research - long distance investing

[Maricruz Romero]

Hi BP!

I am starting my research of the Philadelphia area. I am interested in doing the BRRR strategy for small multi-family properties or single family homes. I am from NYC and not familiar with the area so would appreciate any insight on what neighborhoods you would recommend I look into.

Planning a trip to Philadelphia as well to get to know the area myself, so it would be great if I could narrow my search!

Thank you,

Maricruz

[Michael Campbell]

Hi @Maricruz Romero It depends a lot on your goals, whether you are looking for more cash flow or an up-and-coming neighborhood with greater appreciation potential. There are neighborhoods with good cash flow in parts of West Philly, Southwest Philly, Kensington, Germantown. There are student rental opportunities as well around Temple, Penn, Drexel, St Joes. And there are definitely plenty of homes in need of rehab throughout all parts of the city, so you can implement the BRRR strategy in many different areas.