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Updated 12 months ago, 01/02/2024

User Stats

29
Posts
5
Votes
Nathaniel Irizarry
  • Lender
5
Votes |
29
Posts

Thinking of buying a triplex in PA as a rental unit and then buying primary residence

Nathaniel Irizarry
  • Lender
Posted

I'm just starting out and have never owned a home. I found a triplex in Pittsburgh, PA that could give me some cashflow, the price is $139k. I want to move to Kissimmee /Orlando area soon in 2024. I was thinking if I get this triplex and then purchase a manufactured home in Kissimmee for $70k, the cash flow from the PA triplex could allow me to pay the mortgage and fees on the manufactured home just so I can get situated in Florida. I am thinking that once in Florida I will spend this year wholesaling and developing that side of the business for additional funds to save for my next investment project. Would I even be able to get two mortgage loans in such a short period of time? I'm just really trying to think of ways to move to Florida ASAP and multifamily homes are expensive there at the moment. I'm moving there to be close to my son and daughter and grandchild. I have a remote working job so I can go virtually anywhere with a good W-2 income.

Thanks!

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