Southeast Pennsylvania new member
Hello,
My name is Rob and I'm currently located in the suburbs of Philadelphia in Phoenixville, Pennsylvania and have long had interest in getting involved in real estate investing, and am hoping to buy my first rental property sometime in the next few months in one of the Philadelphia suburbs near me. I'd like to eventually buy and hold enough property to generate around $35-40k passive income per year, but realize that I have a lot to learn to get there. That's why I'm here. I'm also open to possible flips, but am looking down the road toward ultimatley having a passive income.
I'm currently thinking of starting with a small multifamily unit that I could possibly live in may be a good place to start. I can do work on it if needed, and am sitting on some cash that could be used for down payment and repairs. I am open to the local areas like Montgomery, Chester, Berks, possibly Lehigh counties in PA, but am not sure what neighborhoods and areas would work best, or where to find these properties aside from MLS? Is anyone familiar with Spring City or Royersford areas? They're close by and seem to have decent schools, reasonable prices, low crime and many renters so that's one area I'm considering.
So, I'm looking to get into it, make some contacts, learn a lot, and hopefully make some smart deals and start working towards my goal!