All Forum Posts by: David Lorenz

Hello!

I'm in the process of looking for my first multi-family rental property (2-4 units) in the greater Philadelphia area. As I'm running the numbers I'm not getting anywhere near the 2%. Instead, the math is typically coming in closer to 1%. I know it's just a rule of thumb, but Is it possible to obtain the 2% in the Philadelphia market? Or have I just not found the right deal yet?

Dave

@Brendan Markle

I had considered Germantown and the NE, but didn’t have Kensington on my radar. Thanks for the input! It’s a daunting task to narrow down the search so this is definitely appreciated!

Dave

Joe, I would love to attend. Could you send me the info on the upcoming events? Much appreciated.

Dave

Hello! I'm a total newbie and looking for my first rental property. I've decided to focus on small multifamily properties (2-4 units). I'm looking in the Philadelphia area (city limits as well as surrounding suburbs). I live near Conshohocken and would love to purchase there, but from what I've seen Conshy is probably out of my price range. For example, there is only one multifamily currently listed - a quad for 650k! I was wondering if anyone had any suggestions on areas in or around Philly that may be good options (or areas to stay away from). I'm OK with a transitioning area if the numbers make sense. To give you an idea I'd be focusing on a property between 200k-400k. Also happy to buy a property that needs some work. Thanks! Dave