Buy and hold in Kensington Philadelphia

[Mikielle Elum]

I am afraid! Under contract for my first investment property in Kensington Philadelphia. It’s a war zone down there but tons of new construction. Seems like the city has pushed the junkies further down into upper Kensington. Will it get better? Is this the right move?

[Mikielle Elum]

@Bradley Smith

Thank you! I finished the house in late April and got it rented in may. I hosted a two day open house and received well close to a hundred inquires. About 40 people showed up and maybe got 20 applications. I did paper applications and sent over the link for the fee and background check. It was instant once they paid. I forget the service name but you shouldn’t have trouble finding a good service.

I settled on two best friends. Both with steady income. They have been great! I don’t hear from them haha. I haven’t had any issues except in May when the dryer went. (My fault because I was being cheap and brought it craigslist).

I brought the property for 80k and it’s renting for 1100. Tenants pay electric and gas and I pay water ($60 month).

Not sure if you’re interested in that area but if you are I’d say go for it.

I’m looking for my second property