All Forum Posts by: Victoria Pham

Welcome Kevin! Philly market is hot and has a ton of room for your next properties to appreciate. However, it's also tricky because Philly real estate is block by block basis. If you're looking for something more stable since you're new, you can expand your region to suburb of Philly where there are schools neighborhoods. Anyway, coming back to your question. If you like to invest in Philly, some areas you could look closely are upcoming areas like West Philly (I highly recommend you looking in this area!), South Philly, Brewerytown, Strawberry Mansion, some parts of Port Richmond, Point Breeze, Temple areas...For the second question, I think it should not be "next step" but you should do it along with finding a property. When finding a property, you should also look for a team including contractors, property manager (if you wish), lender (even if you have one, it's always good to network and find the best term), and of course wholesalers. Third, absolutely you should open an LLC. It'll mitigate the risks you take as you're entering the world of real estate investment - fund, exciting but also has risk factors involved. Good luck and let me know how I can help!

Hi, I'm not a contractor or expert in this but as an agent working with investors and contractors, I can say that it depends on your project (light rehab, full gut rehab...) and your own contractor. A good contractor can come up with a very good budget as well as finish the project thoroughly for you. So, make sure you can find that type of contractor and you'll not need to worry much about time length for completion. 

I think Temple University area is a pretty good place for rental overall as it has different types of renters. It doesn't only have students but also nurses, doctors, educators...If your strategy is buy and hold, you're looking for a long term investment and as of right now, I think there are good signs about having vaccines soon. Therefore, we can hope for a better and easier rental market in everywhere including the Temple area.

@Matthew Mehring, welcome to real estate investment! I'm impressed that at a young age, you already think of your long term plan and what you want to do. I'm more than happy to be one of your networks along your way achieving your financial independence. Good luck and best of wishes!

@Slawek Jakubowski, right, it's a very diverse area. The dividing line is Aramingo Ave. Anything south of there is very nice but it's getting nicer in the North side of of Aramingo Ave and Frankford. Overall, it's still an upcoming area that will appreciate well in the future

@Michael Fuller, hey welcome! Networking in BiggerPocket is the first step to get to your goal. Keep doing a good job! First, you need to know what you want. So, I'd suggest you to learn about the criteria you're looking for in an investment property (location, purchase price, equity return, rehab budget, ARV...). After knowing what you want, recruit a team to work with you (wholesaler, contractor, lender...). Happy to talk to you more. Just let me know how I can help

@John, welcome to real estate investment! You're on the right track by doing some HW. Ask you some initial questions first to see what you like: areas you want to invest in, purchase price, ARV, equity return and method of financing. After knowing what you want, network with people and recruit a team to reach out whenever you come across something you like. Best of luck!

Hey it depends on where in Port Richmond but overall, it's kinda a C neighborhood which is nice in the sense that you can pick up an affordable property with good cashflow. I think it'll become a B- or B neighborhood soon in a couple of years. 

@Martha Magalei Pittsburgh is nice as others already mentioned. Philly is tricky but if you invest right, you'll get a very high equity return since there are a lot of upcoming neighborhoods. Get yourself familiar with the areas you're interested and then maybe find a local contractor to see properties and neighborhood for you. 

@Collin Boyer, you can mostly find good deals at anywhere but I agree with some of the comments above that MLS is not the most ideal place to find great investment properties. However, as I said, you can always find a deal that fits with your investor at any place as long as the number makes sense. So, first, let's not worry about where you get the property but find out what your investor wants. Ask him/her the areas they're interested, the purchase price range, the equity return he/she wants to get and the ARV...Best of luck!