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Old 01-11-2010, 09:07 AM
 
Location: The City
22,379 posts, read 38,787,212 times
Reputation: 7975

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Looking for advice on locations in Philly/Suburbs that can generate cash nuetral to positive flow and appreciation.

Any thoughts are welcome
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Old 01-11-2010, 05:06 PM
 
Location: Pennsylvania
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If I were investing, I'd buy a duplex on a decent block in Germantown (zip 19144). Costs are pretty reasonable and it's primarily a working class area.
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Old 01-11-2010, 10:25 PM
 
Location: South Philly
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Here's a map of the neighborhoods/areas that I've been watching. They're not great now but they're the fringe areas where things are starting to happen, where rents are creeping up, and where the big money hasn't landed yet.

Working the margins - Google Maps
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Old 01-12-2010, 09:00 AM
 
Location: The City
22,379 posts, read 38,787,212 times
Reputation: 7975
Thanks for the feedback, and what about renters in this area, would I expect more issues than non fringe areas?
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Old 01-12-2010, 10:54 AM
 
Location: South Philly
1,943 posts, read 6,969,371 times
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Quote:
Originally Posted by kidphilly View Post
Thanks for the feedback, and what about renters in this area, would I expect more issues than non fringe areas?
If you're offering a good product at a good price then you'll have a pick of tenants.

If you're buying in an established neighborhood the price of property is going to keep you from putting money into it and that's going to put the reins on what you can ask for in rent.

You can control it to some extent - for example, Brewerytown is largely considered a fringe neighborhood. Fairmount, just south of it, was already a stable neighborhood and is now a decade into major revitalization. The boundary between the two is considered Girard (or Poplar depending on who you ask.) Property values drop off quickly when you cross Girard. Staying close to Girard is the better bet in terms of attracting good renters but going deeper into the neighborhood you'll find the better deals.
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