New Member/Investor From Philly

[Roberto Pellecchia]

Hello BP,

I'm extremely excited to be posting this introduction to the BP community; it's been a long time in the making. I've been planning to jump into RE investing for the past several years and now I am ready to get things started. Hopefully this is the start of many successful years of RE investing for me and my family! My initial strategy is defined: buy and hold multifamily investment properties that cash flow in and around where I live, Philadelphia, PA. I plan on purchasing one or two turnkey properties first and then utilizing the BRRRR strategy on distressed multifamily properties once I gain more experience and I am able to take on more risks. I wouldn't mind flipping some properties in between, but that would be just a bonus if I can and not really part of my long term strategy. The end game for me is to sell off the smaller individual properties and owning a few mid-sized apartment complexes.

Since I will start as a part time investor, I know one of the keys to being successful is to build a team around me made up of successful people that are experts in their fields. For this, I would like to reach out to the largest community of investors I know for some guidance, the BP community. Over the next few weeks, I want to start interviewing two key members of my team, a property manager and lending partners. I would like a property management company that is tech savvy and knowledgeable about my market and as for a lender, I would prefer to work with a local portfolio lender but I want to shop around for the best terms and rates I can get.

So, could anyone recommend a good property management company and/or lender in my area? I live in Philadelphia (zip 19116) and as I mentioned above I want to start out investing in this area and the neighboring Bucks and Montgomery County areas. In terms of financing, I would prefer a lender that works with investors. I will be looking for multifamily properties in the $80K - $120K price range and would be able to put about 20% down.

I’m really looking forward to the future and hopefully one day return the favor to some other “newbie” looking for advice!

Thanks everyone!

Roberto Pellecchia