Many prefer the comfort of investing where they live. But, they reside in areas where real estate prices are prohibitive (e.g., New York City, San Francisco, Washington D.C.). If this is you, long-distance investments in a market like Philadelphia may be the perfect way to diversify your portfolio.
Tips to invest from out of state and abroad:
1. Philadelphia Realtor. Hire a Philadelphia expert who has a finger on the pulse of the area. You can look on Zillow to get a better sense of the most sought-after and respected professionals in the city.
2. Remote Research. Review Philadelphia community action plans online (e.g., Broad, Germantown, Erie Taskforce) to uncover the city’s strategic objectives, funding allocations, and, in the process, emerging opportunities.
3. Virtual Tours. Evaluate properties visually (pre-purchase, during ownership) without physically being on-site.
4. Local Property Manager. Retain a trusted proxy, based close to your long-distance investments, to renew leases, collect rent, and maintain your asset.
Ultimately, the decision is yours, and I’m here to help. Whether you’re a first-time buyer, motivated seller, seasoned investor, ambitious agent, or anywhere in between, I look forward to working together!
– Leron Grossman, Real Estate Broker & Investment Expert
VictoryRealEstateLLC.com | Office: 215-709-0909