Buy and Hold Duplex in Northeast Philadelphia,19114

[Inna Pakhalyuk]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Philadelphia.

Purchase price: $190,000
Cash invested: $25,000

Purchased as my second investment through local credit union, got a great 30 years note with 3.87% fixed interest rate. Property needed a little TLC, but mostly cosmetic work, thats why I bought it. Currently duplexes in this area sell for $300,000. Renting out each unit for $1,000 a month.

What made you interested in investing in this type of deal?

Close proximity to where I live, so I can keep an eye on it.

[Jimmy O'Connor]

@Yechiel W. I would encourage you to look at the specific neighborhoods in the NorthEast. Perhaps you are confusing it with Frankford, but most of the NE is known for being the cleaner, lower crime rate, and generally highly valued area. Typically rehabs are less impressive but the outsale is impressive just based on the community as a whole. REALLY hard to pick up deals like the one @Inna Pakhalyuk got here. One of the hardest things about purchasing multis is having SOLID comps to justify a refinance since people do not usually fix and flip multis, they buy and hold, usually only having "as-is" comps to compare to.