Avery, Home Buyer in Phildelphia

What Phila neighborhoods are the best source of deals for investors and future resale? Our strategy is to

Asked by Avery, Phildelphia Mon Mar 24, 2008

buy and rent while the market is flat. We want to be postioned to sell in the future in neighborhoods trending upwards. Looking forward to your expert feedback! Avery

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6
Hi Avery,

It's great to see someone wanting to take advantage of all of the great opportunities there are right now in real estate. I have advised my investor clients that now is the time to build their portfolio. Buy now and rent. There are many of people who need to rent. You need to position yourself with "your own" buyer agent who will go to work for you finding you the best opportunities. I understand that investors also are out there looking all the time and that is fine but you can't be everywhere and Realtors who have a relationship with banks and have built great networks know when an REO is coming can alert their priority clients first. So, in Philadelphia there are a lot of areas that have a lot of great opportunities right now. Just remember to be patient and make sure your Realtor is a great negotiator and who is not afraid to fight for you. Let me know if I can help you in any way.

Renee Porsia
Associate Broker
RE/MAX ACTION REALTY
(215) 669-0589 Direct
(215) 358-1100 Office Ask for Renee
http://www.reneeporsia.com Looking for investments, register for free.
1 vote Thank Flag Link Sun Nov 9, 2008
Hi Avery,

I just met with a new investor of mine and told him that there are investments in just about every neighborhood right now. I pointed out to him the various areas that he never would have thought of and he now has added more areas to his list to look at. If you have an aggressive buyer agent who will get out there and search for you, you will find some great deals.

This is the time to build your portfolio.

Renee Porsia
Associate Broker
RE/MAX ACTION REALTY
(215) 669-0589 Direct
(215) 358-1100 Office Ask for Renee
http://www.reneeporsia.com
0 votes Thank Flag Link Wed Dec 10, 2008
For Investors... I would target areas around Colleges.... Tuition is Sky Rocketing and it is cheaper to have students share a row home vs living on an expensive campus dorm. Usually the students pitch on the rent and that covers your Mortgage!
Thanks John Curci RE/MAX 1-866-473-6290
Web Reference: http://www.HomeCatch.com
0 votes Thank Flag Link Wed Dec 10, 2008
Avery,
As an investor myself, I would follow Debra's lead and ask you to contact another investor who wholesale properties. There are many, but fewer honest ones. What I mean by that is the following, there are many real estate investors who carry large overhead due to franchise fees, billboards, etc. etc. This type of overhead sometimes pushes people over into really stretching the truth when it comes to wholesaling properties. Many of us, like myself, work hand in hand with a realtor that understands what an investment is. Many realtors just don't understand. A good wholesaler will have a competent realtor to help find deals and let the investor make the deal. Contact me thru my jprescue.com website and you can see what I have available. I provide a spreadsheet with each of my deals so you can efficiently see your costs and cash flow. This surely is not rocket scientist stuff but you do need to work with an honest team.
Web Reference: http://www.jprescue.com
0 votes Thank Flag Link Sat Nov 15, 2008
Hi Avery, I am a wholesale/investors and have a couple good deals in Philadelphia for sale. One is located in middle of Brewerytowns revitalization. I'd say thats a good area where values will keep going up.
0 votes Thank Flag Link Sat Nov 8, 2008
Avery, unfortunately, looking at Philly as a whole is like trying to eat an elephant in one meal. It is just too much to digest.

Philadelphia has had many ups and downs, but if you want to be where the action is, there are several areas that have always pushed through the bad times. Are they the "Cheapest" homes...no. Will you have an easier time renting them...yes.

Contact me for more specific info to your needs....
0 votes Thank Flag Link Tue Mar 25, 2008
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