We all have our "niche" and some parts of the city just don't work for us. Whether it's the style of house or neighborhood reputation, we tend to look within our "comfort zone" and would never even consider certain areas in Philadelphia. However, the one trait shared by each and every part of the "City of Neighborhoods" is diversity which brings change. It's up to us as Investors to make sure that we are willing to make those changes to bring positivity (i.e. more opportunity) to these areas.
Though out the city's history we've seen positive changes made to parts of the city that once possessed a less than favorable reputation for many years. These areas have now proven to provide all the attributes favorable to the savvy Investor and are now in huge demand (i.e. South Street area, University City, Temple, St. Joe's, Chestnut Hill, Powelton Village, etc...). It took a few Investors with a vision started the ball rolling. These Investors were not followers, they were trend setters. Just like the saying goes, "if you build it, they will come".
We must be trend setters with vision if we are to be truly successful, not falling into becoming creatures of "habit". As Investors, we should be problem solvers seeking out those hidden treasures. We must rethink those habits or re-hab our thinking. Let's try to approach each and every area of the city with an open mind and with a solid plan of action. There are many other parts of the city that are being overlooked that could have great potential for development. Just like all the others, these properties are large enough to house multiple units, are convenient to Center City, expressway exits, parks with tennis courts, universities and the best thing is they are dirt cheap.
I am going to attempt to highlight those areas of the City in this blog by proving some rehab ideas and pictures of the actual areas. You will be able to view the subject part of the city by clicking on the tab to the right. "WARNING: Work In Progress" this tab is ONLY to be viewed with an open mind and with a creative vision. Stay tuned.....