New Investor in Philadelphia, South Jersey

New Member Introductions
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New Investor in Philadelphia, South Jersey

Kristin Feerst
Merchantville, NJ · Member since 2019 · 39 posts · 32 votes

Hi Everyone,

I've been on bigger pockets for a few months now, and am overdue on my introduction post. I am a new investor residing in South Jersey, looking to build an REI portfolio in Philadelphia. I am primarily interested in buy and hold properties using the BRRRR method. I am one half of a husband-wife team. We are interested in real estate (1) because we love old homes and especially love Philadelphia and want to aide in the revitalization of the city. (2) we want to generate passive income and we aren't afraid of toilets (yet, lol!).

We have an offer in on our first investment near a university that we plan to gut renovate and turn into student housing.  I am nervous and excited! :-)

I am chemical engineer by school, currently a sales manager in biotech as a day job.  I have two kids, a dog, and a bunny. 

So far I've learned a ton from the bigger pockets community and am so thankful this wonderful resource exists!  Thanks in advance to all of you for the advice.

Cheers, 

Kristin

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Carl FischerPro Member
Rental Property Investor · Ambler, PA · Member since 2015 · 2k+ posts · 1k+ votes
6y

@Kristin Feerst

Congrats on stepping up and getting in the game/business. Lots of smart people in the philly market and surrounding suburbs. Learn from their mistakes it's less costly. Local real estate investment clubs can help establish your local network. South Jersey REIA and Diversified Investment Group(DIG) are there. They have other investors, tradesman, vendors, attorneys, title companies etc all in one place. Check them out. Good luck and look forward to meeting and/or working with you in the near future.

[email protected]215-283-2868
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  • Stephen Kappre
    Real Estate Agent · South Jersey · Member since 2017 · 252 posts · 143 votes
    6y

    Welcome!! Thanks for introducing yourself and hope we can all help in your journey! 

    1Reply
  • Jason Sinclair
    Investor · East Coast · Member since 2020 · 21 posts · 4 votes
    6y

    Hi Kristin! My wife and I are getting started as well and Philly is at the top of our list of nearby investment markets (we're based in Jersey City). Would love to connect and compare notes, share ideas, and/or resources. We're close to pulling the trigger on our first place as well, and the nail biting is intense. lol. Sen you connection request. 

    Cheers!

    Jason

    1Reply
  • Kevin MoyerBusiness Member
    Property Manager · Philadelphia, PA · Member since 2019 · 271 posts · 303 votes
    6y

    @Kristin Feerst @Jason Sinclair

    Welcome to philly. I’m an investor with a few units rented primarily by students as well as a property manager handling all types of residential units around town. Let me know if you have any specific questions and best of luck with your projects

    Otter Property Management4.8632 Reviews
    WebsiteView Page
    1Reply
  • Jason Sinclair
    Investor · East Coast · Member since 2020 · 21 posts · 4 votes
    6y

    @Kevin Moyer I'll have tons! lol. Philly might as well be Vietnam to me when it comes to investing. Still learning the bureaucratic ropes and where the best neighborhoods are. My wife and I are actually going to head back this weekend to meet with some folks and look at some properties. I'll keep you posted. :)

    0Reply
  • Nathan M.
    Philadelphia, PA · Member since 2018 · 50 posts · 43 votes
    6y

    @Jason Sinclair @Kristin Feerst

    Welcome to BP! I also live in South Jersey and am looking to build a portfolio in the area.

    As someone who is not yet ready to pull the trigger, I spend a lot of time analyzing deals and looking at properties in Philadelphia and the surrounding counties and would be happy to take a look at anything you are considering and throw in my two cents.

    1Reply
  • Kristin Feerst
    OP
    Merchantville, NJ · Member since 2019 · 39 posts · 32 votes
    6y

    Thanks everyone! I'm happy to answer any questions on my investor journey so far.  I am sure I will learn a lot in these next few months as we embark on our first project. 

    @Nathan M. @Jason Sinclair So far my advice is three-fold;

    1. learn as much as you can but focus in on a single strategy so you don't get distracted

    2. Start to build a team asap which begins with networking and getting recommendations.  I love this forum and the investHER facebook group, also local philly meetups are great

    3. Don't get stuck in analysis paralysis or endless pursuit of the "perfect" deal

    @Kevin Moyer I'd love to pick your brain regarding managing and marketing of student rental properties as that seems to be the niche we've settled into.  I'd gladly buy you a coffee or a beer in exchange for any insight!  Shoot me a PM if you're open to meet. 

    Cheers, 

    Kristin

    0Reply
  • Sheryl Sitman
    Rental Property Investor · Philadelphia, PA · Member since 2015 · 480 posts · 362 votes
    6y

    Good luck! Lots of good stuff to do in Philly. Lots to make sure you are doing by the book in student housing. Enjoy the ride!

    1Reply
  • Patrick McDevitt
    Rental Property Investor · Philadelphia, PA · Member since 2019 · 6 posts · 3 votes
    6y

    Welcome! My wife and I are also full time workers from SJ trying to nose dive into brrrr investing in philly and I’m the one with the flexible schedule so I’ve been doing most of the research. I have been in limbo for a while because we can’t tell if we want to save up the full cost of a brrrr project or use hard money and just dive in. Haven’t settled on an area yet and most of the trending neighborhoods are getting priced out. Where did you settle? Did your offer get accepted yet? Did you get a contractor yet? Who did you use for lending?

    0Reply
  • Carl FischerPro Member
    Rental Property Investor · Ambler, PA · Member since 2015 · 2k+ posts · 1k+ votes
    6y

    @Kristin Feerst

    Congrats on stepping up and getting in the game/business. Lots of smart people in the philly market and surrounding suburbs. Learn from their mistakes it's less costly. Local real estate investment clubs can help establish your local network. South Jersey REIA and Diversified Investment Group(DIG) are there. They have other investors, tradesman, vendors, attorneys, title companies etc all in one place. Check them out. Good luck and look forward to meeting and/or working with you in the near future.

    [email protected]215-283-2868
    2Reply
  • Odie Ayaga
    Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
    6y

    Welcome @Kristin Feerst welcome to BP and real estate! How do your dog and rabbit get along? Is it a normal sized rabbit that you might see outside? I saw one on some show the other day that was a little bigger than a very large cat and it made me want one too.

    0Reply
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