Investment properties Allentown

[Jon Treskot]

Hi everyone, my wife and I want to start investing in Rental properties in the Allentown, Bethlehem area. We have 50 k to start with. Getting started is the most intimidating part of this process. Our plan is to take multiple mortgages and put 20% down on each. Can anyone give us some advice?

[Mike Dorneman]

@Jon Treskot You’re right Joe, getting started is the hardest past! I sat on the bench and thought about it for around 3 years before doing my first deal. If you haven’t already, take sometime and go through the forums and listen to old pod cast that reference BRRRR. That’s the principle you’re eluding to with. Buying said property, renovate, rent it, refinance your cash out, and Repeat! 😁 I’m about 1 hour north of you in the Poconos. Allentown / Bethlehem Is a solId atea, however ectremly competitive and flooded with seasoned investors that are cash heavy. Be careful not to fall into a bidding war and overpay. Figure out your price point to make the deal work and stick to it. Find an agent that works with investors, this part is KEY. Then get ready to write a ton of offers! 😁