Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

11
Posts
4
Votes
David Cha
4
Votes |
11
Posts

Newbie in Philadelphia. First post!

David Cha
Posted

Hey everyone, first post and still learning a lot! I recently moved home with my folks in January to start saving for a house and then the world fell apart so, at this point, i'm in full on savings mode and learning as much as i can. I came across the podcast as well as other youtube channels and had some questions for the community about a first home purchase using a VA loan or if i should go another route like FHA.

I'm a veteran in my 30's and I'm looking in Philadelphia. I'm interested in going the owner/occupant route. I hope to have about 25k for a downpayment saved in a few months and an excellent credit score. The multifamily properties near me that are in decent areas are around 400,000.|have a very gov stable job and friends that would rent the unit(s). One property I was looking at, would probably be out of pocket a few hundred dollars for the mortgage after the units are rented out. I would like to get started as soon as possible but don't know if i need to save up more money or if this is a wise investment. I cannot live with my folks forever so i am itching to get out and want my first property to be a wise investment and not a nightmare! Thoughts? If i missed anything or other info is needed, lmk.
 

Most Popular Reply

User Stats

4
Posts
4
Votes
Amanda Vittitoe
  • Realtor
  • Hoboken, NJ
4
Votes |
4
Posts
Amanda Vittitoe
  • Realtor
  • Hoboken, NJ
Replied
Originally posted by @Stephen J Davis:

Take a course on real estate investing as soon as possible. Don't trial and error it or depend on a forum for your education. A good course can take 5 to 10 years off of the learning process. 

Stephen, are there any courses you recommend?

Loading replies...