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Updated over 2 years ago on . Most recent reply

User Stats

30
Posts
11
Votes
Ryan Friend
11
Votes |
30
Posts

Single Family Home Dilemma

Ryan Friend
Posted

Heres my dilemma…. I live in south whitehall, I want to get started investing in 3:2 single family homes. Goal is to get enough cash flow on properties to quit my job in the next few years. Trying to focus on a specific market in the Lehigh Valley and/or northampton county. I am torn between more affordable home prices in transitioning areas like downtown Allentown and southside Bethlehem which will cashflow but higher crime rates + not great schools. Versus places like Northampton, coplay, whitehall with higher home prices, way better schools, lower crime rates. I dont have a ton of capital, dont have enough equity on my home to take out HELOC, interest rate on my house is 2.5% no cash out refi. But have great credit. What would you do if you were me? Who would you have me talk to about my dilemma? Thank you!!

Most Popular Reply

User Stats

6
Posts
7
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Michael Cunningham
  • Attorney
  • Temecula, CA
7
Votes |
6
Posts
Michael Cunningham
  • Attorney
  • Temecula, CA
Replied

I bought 5 units in center city Allentown last year. So far, it has been difficult. Between multiple evictions and tenants damaging the property, I think it is tough to invest in the area without significant financial resources to deal with these issues. On paper, we should be cash-flowing a decent amount each month. In reality, there is always an issue each month that requires us to put in more money. I think the suburbs might be a better option unless you are willing to put in significant money to deal with difficult tenants.  

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