For a 1st investment property! Best Area to invest in philly right now? and Why?

[TJ Reiley]

Hello all, my name is TJ Reiley! I am a licensed real estate agent in Greater Philadelphia area, i work solely with investors to find off-market deals. I am also beginning building up on some capital & credit to purchase my first investment property using the BRRRR method! I tend to find most investors are looking in South and North East Philly for highly producing rentals.

Any experience or knowledge in regards to this market? Specific things to avoid/ look for? Price point? Cap rate? Cash or hard money? 

In all, i am looking to connect with anyone involved in the investment real estate industry. GC's, Real Estate investors, Cash buyers, property managers, wholesalers, etc. 

Lets connect! Be great!

TJ Reiley

[Alan Asriants]

NE Phila right now is an extremely hot market. Tenant quality is good here which is why a you pointed out people are looking here. I have a couple of duplexes in the area and find it not as challenging to fill vacancies with quality tenants.

Starting from cottman ave and heading north, the prices of property and rents increase. Going south they decrease. 

19116 and 19115 are very hot. 19154 and 19114 are also doing well. 

Fox chase area (19111) is also hot and so are parts of Rhawnhurst (19152)

Very difficult to find cash flow as rates and prices are so high, but filling vacancies is usually not an issue

Seller's market for sure on Multi Fam.