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Updated almost 6 years ago,
Newbie Looking for Advise
Hi everyone! I'm a new member on BP and try to get into real estate but not sure what best option for me.
I live in North East Philadelphia PA. I'm renting apartment for which I pay 900/month + all utilities. I had saved 15K and my credit score 735 which is pretty good I guess) I was thinking about to find a duplex for "live hack" but prices are really crazy in that area ($280K-350K) if you even able to find it. Most of them needed solid repair. Than I thought about brrrr but if I get a loan for rehab and a mortgage and I still need to pay for my rent, it just to much...
So my question what would you do if you be in my shoes? Should I buy something cheap and try to pay it out ASAP and than take HELOC on that properties to reinvest? Or should I wait and save more money? Maybe turn key my option?
Sorry for stupid newbie questions.
Thank You All!
Best regards.
Sviatoslav Gulko