New to Real Estate Investing in the Philadelphia area

[Shad Lorenz]

Hi, my name is Shad Lorenz and I am a 12 year Army Veteran, 10 year small business owner with a Bachelor’s degree in photography looking to start my journey in Real Estate Investing with my wife Beth Lorenz. 

I wanted to see if anyone in the Montgomery County, PA area knows any mentors to reach out to? I want to learn as much as I can, just like us all, but want to help a mentor grow as well. Making sure it's a beneficial relationship for all! 

Looking to start with house flipping and eventually move into multi-dwelling property as a more steady stream of revenue. Please let me know if you would like to connect or know anyone I could reach out to. 

Thank you in advance!

[Dustin Tucker]

Hello Shad,

I think there is always a time and place for flipping, but I think you build long term wealth with buying rental properties. The quickest way to get to multi family investing is to start with duplex, triplex, and quadplex properties. Financing for 5+ units is not very good right now, however there are ton of lenders including myself than can fund up to 75% LTV on a 1-4 unit property. Plus interest rates for the rental loans are now starting at 5.3%, and I expect those to drop more in the next 6 months. For example you can do a fix and hold loan on this property https://www.zillow.com/homedetails/2024-Edgmont-Ave-Chester-..., (I don't know the philidelphia sub market, this might not be a deal) $125,000 Purchase, $75,000 rehab, if you can get an appraisal for $300,000, you can get all your money out, and probably cash flow $500+ per month.

If I started investing again, I would have started with getting my real estate license.

Happy Hunting!