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Updated over 5 years ago on . Most recent reply

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9
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3
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Devon Shives
  • Pittsburgh, PA
3
Votes |
9
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My first house hack Triplex or quad in Pittsburgh. Looking for g

Devon Shives
  • Pittsburgh, PA
Posted

I am looking to buy a triplex or quad in the next 7 to 8 months (in process of getting credit score as high as possible) and live in one unit. I want to go FHA. I lived in Pittsburgh all my life but I'm not sure what markets are great for investing. Should I go turn key or fixer upper in that case I'd probably need a 203k loan. I'd love any input or guidance anyone can offer. Also looking for local real estate meet ups. Would like to wholesale part time as well. Willing to trade work/value for knowledge

Most Popular Reply

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756
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Jeremy Taggart
  • Real Estate Agent
  • Pittsburgh, PA
569
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756
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Jeremy Taggart
  • Real Estate Agent
  • Pittsburgh, PA
Replied

@Devon Shives 203k loans are a great product but tough to execute. Most contractors don't like to do them because of all of the paperwork and red tape. Plus you are at the mercy of the contractor actually following through on the project which is a toss up in itself anymore. I'm a fan of multi units that are occupied to give you the income off the bat but need some updating. This enables you to get them at a better price and also build some equity by doing improvements over time. This will keep the mortgage low also which will enable you to use the cash flow to fund the renovations, assuming you buy right. 

  • Jeremy Taggart
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DHRE- The Jeremy Taggart Team
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