New Investor from Philadelphia, PA

New Investor from Philadelphia, PA

West Chester, PA · Member since 2017 · 12 posts · 4 votes

Hey BP!

My name is Jorge Santiago and I am just getting started on my path of real estate investing. I work in the finance field and have finally decided to invest in real estate as well in order to create passive income for my future.

I currently live in the West Chester/Exton, PA area and am familiar with the greater Philadelphia region as a whole. My short term goal is to house-hack a multi-family unit to cashflow while at the same time saving on the largest expense we all have, housing! I'm aiming at early 2018 to actually pull the trigger on a property but am looking to engage with real estate agents now that have investor experience to step up my search efforts. (Feel free to recommend any local agents that have experience with RE Investing). Currently searching in areas such as West Chester, Exton, Phoenixville, & Conshohocken but am open to any recommendations too! Long term I aim to build a portfolio of multi unit properties to create a passive income to support my future family.

 I have no experience buying/selling property before as I have only ever rented but have learned a ton in the last 2 months I've spent reading forums and listening to the BP podcasts. Making my profile is the first step in what I hope will be a long future investing in real estate. I'm very excited to be an active member of the BP community and am looking forward to connecting with like-minded individuals in my area. If you're in or around the West Chester to Philadelphia area I would love to talk about the local real estate markets and learn from more experienced investors.

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Dave Van HornPro Member
Fund Manager · Wayne, PA · Member since 2009 · 1k+ posts · 1k+ votes
9y

Hi Jorge,

Welcome to the site! I actually live in the West Chester/Exton area as well but my business is based out of Newtown Square (though we operate nationwide). Love your plan of house hacking a multi-family, I often suggest it to younger investors breaking into Real Estate.

If you're looking to connect with investor friendly agents and other investors in person you may also be interested in checking out our local REIA Group, DIG (Diversified RE Investor Group). Their main meetings are in Ambler, PA but they also have subgroups all over the South Eastern PA region - including a monthly subgroup meeting in Chester County.

Going to DIG was a game changer for me and expanded my network like crazy and opened up a lot of doors. Along with diving deep into BP (podcasts, forums, blog, etc), I highly recommend checking them out especially if you're just getting started in the business.

I attend as often as possible too, so maybe I'll see you at a meeting!

Best,

Dave

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  • West Chester, PA · Member since 2017 · 12 posts · 4 votes
    9y

    @Account Closed Hey Matt! I agree, RE Investing is an exciting opportunity. I work in the financial markets industry so I have plenty of experience with stocks/bonds and am now looking to diversify into RE.

    Ideally I am looking for a multi family property in an up and coming area that I can house hack and live in for at least a year. I am interested in rehabbing the property as well as I enjoy the prospect of fixing a place up in order to add value over time. For my first property I want to get a tenant to fill the other unit(s) full time.

    I would like to reach out and hear more about your experience in the greater Philadelphia area. Even though I am early on in my journey, I am looking for a like minded real estate agent to aid in my search for my first investment property. The first of many more to come!

  • West Chester, PA · Member since 2017 · 12 posts · 4 votes
    9y

    @Chris K. Thanks for the tips Chris! I am originally from the Poconos, fairly close to wiles-barre actually. Just moved down to the Philadelphia area about a year  and a half ago. I am excited at all of the potential I see in the greater Philly area.

  • Lender · Berkeley, CA · Member since 2017 · 1k+ posts · 549 votes
    9y
    Anyone want to Meetup at the DIG event? Before or during or after? My company wanted a table but they SOLD OUT! (Good for them)
  • Philadelphia, PA · Member since 2017 · 140 posts · 37 votes
    9y
    Originally posted by @Jorge Santiago:

    Wow I am overwhelmed by the amount of friendly responses I've received thus far. I know I've made the right choice by making my profile on this site. 

    @Account Closed Thank you for the advice about zoning classification as that had never even crossed my mind! I'd be open to the city of Philadelphia as well. However higher taxes make me a little hesitant. West Chester is definitely expensive so I am open to many different areas.

    @John Knisely I will take you up on that offer! I want to reach out to hear more about your house hacking experience and more about your services as an agent as well.

     We pay around $2700 for taxes for our duplex and that is not that high. 

  • Investor · Philadelphia, PA · Member since 2017 · 97 posts · 30 votes
    9y

    @Jorge Santiago Send me an inbox when you're ready then we can start to connect and I'll be able to present you with deals that make sense!

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