Rookie investor looking for first rental property

[Shenjuti Chowdhury]

🌟 Hello Bigger Pockets Community! 🌟

I’m excited to introduce myself as a rookie investor eager to dive into the Philadelphia real estate market. I’m currently looking to purchase my first rental property, ideally a 2-4 unit building near UPenn and Drexel.

I’m reaching out to find an investor-friendly real estate agent who can guide me through the process and share valuable insights. My goal is to build a solid foundation now and expand my portfolio in the future.

If you have any recommendations or tips, I’d love to hear from you! Looking forward to connecting with this amazing community. 🏡✨

Thank you!

[Stuart Udis]

Student rentals are not always the easiest first investment. Even beyond the management challenges, the well-located buildings near UPenn and Drexel generally do not offer much rent growth or appreciation. Also, both universities draw from affluent families, which means the fringe properties tend to be less desirable so the well located properties are all you should be looking at.

It is also worth weighing the political environment. The councilmember for that district is unpredictable and has already pushed forward several progressive housing reforms, which should factor into any long-term investment plan.

I am still bullish on Philadelphia overall, but I do not see much value in buying rentals near the campuses. The upside is limited