Philly is a big city and the surrounding towns and suburbs should not be ignored. We keep our eye on several areas, especially in the the post-Corona shake out we are expecting. This twin home required a total interior rehab and has been getting $1750 in rent for three years now. A small borough on the Delaware River in Bucks County, not many investors were paying attention to the change taking place there. We built relationships with a few local agencies and found this home after it sat on the market for almost an entire year! Why? Because it was priced too high. We recognized an opportunity and offered $30k under asking price. Home values went up quickly in the last two years as we expected after the downtown had undergone a beautiful rehab including adding a marina to the waterfront. This particular property has comps well over $200,000 today, making the $110,000 investment a great addition to our portfolio.
