Real Estate Newbie from Philadelphia, PA

16 Replies

Hello Everyone,

I came across this website while I was searching for helpful resources for real estate investors. It was one of the first results--great SEO! ;)

I joined BP a few weeks ago and I am looking forward to engaging and learning more about real estate and the market. I recently purchased my first investment property in the Philadelphia area - a duplex. I plan on purchasing more investment properties in the near future so I definitely want to educate myself a bit more before doing so. 

I currently work two other jobs and I am in the middle of fixing my new home so my schedule is certainly full at the moment. I am still trying to find the proper balance.

I am very new when it comes to the real estate market so I am looking forward to reading up on some helpful books, listening to some great podcasts, as well as connecting with some great and like-minded people on here. :-)

Warm Regards,

Jessica

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Hi Jessica!

Welcome to the site, which is weird for me to say since I'm brand spanking new.  

I'm from Los Angeles, but find myself in Philadelphia a couple times a year.  I have thought about looking into real estate there.  Probably buy/hold types.  Just thoughts at this point.  I look forward to see how your projects turn out and what your feel for the real estate market is like there.

Powell

@Jessica F.  

Welcome. Your market is #5 in the top ten student housing markets in the country. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Hi @Powell Chee !

I am looking forward to see all that Philly has to offer in terms of real estate. I love LA--I used to frequent every few months but not so much this year due to work obligations. 

Sending a warm welcome to BP to you as well!

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Welcome @Jessica F.  

Where is your duplex? Since you bought before discovering BP, knowing what you know now, how'd you do on it? What and where are you looking to purchase next? 

Welcome to BP community @Jessica F.   It is a great place to meet new friends and learn about various aspects of real estate and more.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Wishing you the best! 

Thanks for the welcome @Kerry Smith!

@Dmitriy Fomichenko Thanks, I will look into the keyword alerts.

@Troy S. Hi Troy, The duplex is located near the NE section of the city. I think I did a pretty good job on the purchase considering my lack of real estate knowledge at the time. I am just working more on understanding the market as a whole as well as landlording. I do plan on purchasing more investment properties soon around different areas of the city. I plan on educating myself a bit more before making any other purchases at this point.

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