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Updated almost 5 years ago on . Most recent reply

User Stats

18
Posts
1
Votes
Stephon Mosby Williams
  • Rental Property Investor
  • Philadelphia, PA
1
Votes |
18
Posts

Triplex & Beyond...almost two years, what’s next??

Stephon Mosby Williams
  • Rental Property Investor
  • Philadelphia, PA
Posted

Ok so let me get straight to it lol I brought my 1st triplex 6/18 at 26. I got it as a house hack so I live in one unit and rent the other two units which eliminates the mortgage coming out of my pocket and I have a little more than $300 after the mortgage to save for any expenses or whatever. I've been lucky some may say since I brought my triplex with good tenants who've been there for years before I even thought of buying the property so they were able to tell me about all the minor issues with the house and they've been good behaving, consistently on-time, full-rent paying tenants since I've owned the house. Hopefully that goes on forever. Fingers crossed. But I've been trying to buy another triplex ever since with little luck. I've been utilizing mostly the MLS and I had three deals fall through. Two because of a slow communicating agent and my most recent one because of the corona virus causing my lender to change the reserve requirement from 3 months to 18 months which forced me to walk away from the house. I luckily will have my earnest money deposit returned because of everything going on. I'm just feeling stuck now and don't know what to do next if that makes sense. I just need help with my next step or two?? Thanks in advance anyone.

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