All Forum Posts by: Katherine O.

This is just an update.  I decided not to go forward with this property.  I was very skeptical about the area.  In addition, there was structural damage at the back of the house that lead to quite a bit of water damage in the garage/basement.  The seller agreed to fix the structural issues.  But, I used to own a duplex with ton of mold issues that originated from a long term roof leak.  It was expensive!  I'm going to keep looking.

Thanks everyone for your responses.

@Andy C. 

I'm so glad you mentioned that.  I did a Google map search when I first picked the property.  But I did not use the exactly address because I wanted an impression of the neighborhood.  So Google took me to the other S Ruby St.  I traveled around the neighborhood and ended up and beautiful tree-lined street.  I really did not understand that the the area could change significantly from block to block.

@Elesha S. 

Thanks for your comments.  You and several others have said Philadelphia is very block by bock which makes me wish I had gone there earlier to take a look.  I'll look through the link you sent, but I think I'm too far away to properly assess the neighborhood.

@Vanessa Burgess 

Thanks for your words.  I agree that research is key to investing.  I just wish now that I had also boarded a plane and looked at the neighborhood.  The house I have under contract is 1736 S Ruby St.  I'm in the block that is closest to the river.  It seems there is less crime there (according to crime-reports.com).  I'll think about it a bit more.

@Andy C. 

Thanks for the warning.  I think that's the problem with looking at the crime statistics.  I get an average for a neighborhood.  I think you are right.  Initially, I was really only evaluating this property from a numbers perspective, but after reading your post I'm more uneasy.  I think I would have felt more comfortable if I had flown their myself and looked around.  For my previous investment (in Texas) I flew there and talked to several people.  Then I felt OK about the house.

Hi Vanessa,

Thanks for your reply.  An OK neighborhood works for me.  My goal for this property is cash flow.

Hello Everyone,

I have a question which I realize now I should have asked much earlier. I live in San Jose and I'm considering buying a SFH in Philadelphia in the Kingsessing Neighborhood. It's south of University City. The property is on South Ruby St. The person selling the home said that the home is in the path of development because the area around University City is improving.

When I first entered into the contract, I looked up the crime statistics for the area and found there was quite a bit of theft/burglary, but no violent crime.  Several weeks later I checked again and discovered there was some violent crime (assaults).  The home is still being remodeled, and we have not closed escrow yet.  But, I started to wonder if I checked the neighborhood closely enough.

My question is for those of you who live in or are familiar with Philadelphia.  Is this really an up and coming neighborhood?

Welcome to Bigger Pockets Kicia.  What type of real estate investing are you interested in doing (buy & hold, flipping, wholesaling, etc...)?  Have you read the Ultimate Beginner's Guide to Real Estate Investing (http://www.biggerpockets.com/real-estate-investing)?  I read through it myself; it's a great place to start.

Hi Liz,

Welcome to Bigger Pockets.  Fiji sounds great.  Have you been doing deals in Fiji?  If so, what type of investor are you (buy &hold, flipper, etc.)?

-Katherine

@George Douvas What I did was go to the search field, at the top right of the website, and type in "wholesaler <location>" . Under the Search Results page you will see "People" and it will show you how many wholesalers are on BiggerPockets and working in Prescott, Arizona.