Gauging Philadelphia/South Jersey rental market

[Chris Spespy]

Hello,

I plan on buying a turn key investment property in the Philadelphia/South Jersey area and am wondering if anyone would share their strategy in gauging rental market (interest, price, etc) locally. I have only been using Zumper and Zillow but it doesn't really give me an idea of demand or whether the listed price is fair. I would like to buy in the Bella Vista/Queen Village area in Philly or in Collingswood area in SJ specifically.

Thanks in advance.

[Dillon Y.]

@Chris Spespy if we’re talking turnkey, I would tend to agree with Eileen that it’ll be tough to find a property that cash flows. If you do, you’ll need to go further down the “Class” list to the C properties. I personally have one in Lindenwold that cash flowed decently when I bought it, and cash flows much better now that I’ve put *some* work into it. You can find some gems up and down the 30 (White Horse Pike) corridor.

I’d love to know more about why you’re aiming for turnkey - are you planning to househack? Are you Reno-averse?

Thanks!

Dillon