Ready to jump in!

[Ronald Burgess]

After years and years of procrastinating it's time to become a landlord! I currently live in North East Philadelphia ( Tacony) and I'm ready to either A. Move out and rent this place out or B. Buy a rental. After years of researching I've setlled on either Point breeze ( waited a little too long I know) or Fishtown. I have a deal in place for a house in Kensington/port Richmond but I'm having a hard time finding a bank to approve a loan under 50k. I'll be looking at my first house in person Monday on the 2000 block of Titan st. I'm on here to learn as much as I can from investors in the Philadelphia area and any help/suggestions would be greatly appreciated!

For a first time rental property what are the main things I should be concerned with? I'm not worried much about immediate cash flow as it will be a buy/hold which is the main reason I'm looking into point breeze. Thanks in advance ladies and gents.

[Joshua Feit]

@Ronald Burgess -- Welcome to the BiggerPockets community! I am in my first year of investing, with seven doors in the metro Atlanta region.

Though I don't have any specific advice for investing in your market, I can tall you that I have learned more from the BP Podcast than from any other source. You should definitely listen to as many episodes as you can before placing any offers. The interviews are great individually, but the real magic is hearing the repeated concepts and observing the common threads. And hey, it is a free resource that you can listen to while you commute or drive around.

I wish you all the best with your new venture. Cheers!