Newbie in King of Prussia, Bridgeport PA, Looking to Plug In!

[Pete S.]

Hi All! I am Pete Smith from King of Prussia, PA. Looking to house hack my way into and through my first year in a multifamily in Bridgeport, PA and having a blast researching properties (both online and in the streets) , financing (Physician's Loan vs VA Loan vs FHA). Haven't even begun to break the surface of BP but already loving the collective knowledge and experience of the group.

I'm a married (wife is on board and excited), full-time podiatry resident. I enjoy soccer and skiing. I am originally from Reading, PA  and went to Penn State for undergrad. Came to BP about a year ago, dropped the ball, but am back at it after a strong referral from one of the guys I work with who recommended the BP Podcast. I do have some background in search engine marketing as well so hoping to be of service there.

[Matthew Lengel]

Hey Pete,

You would have to live in it for 2 out of 5 years for the primary residence exclusion to occur. I have just house hacked in 2015 down in manayunk and split another multi family with my brother around the corner from me a couple months back. We went FHA but at the end of the day it's all about how the numbers make sense. I would look more at cash on cash returns or discount rate of return when calculating valuations as they will take into account the financing of your property better than Cap rate will which will assume you bought the property in cash.