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Updated almost 8 years ago,

User Stats

11
Posts
2
Votes
Eassa Ayoub
  • Lender
  • Drexel Hill, PA
2
Votes |
11
Posts

Hey guys! new to BP, I'd like to ask some advice.

Eassa Ayoub
  • Lender
  • Drexel Hill, PA
Posted

HI! My name is Eassa. 

I am looking to plan out my next move. I currently reside in a duplex I own with about 10k in equity in the Drexel Hill area. 

The idea I'm thinking of involves a partner who would use a low down payment mortgage, have them occupy the property for 12 months, and repeat. I want to know if that is legal first of all, or is it a grey area?  Also will it be weird to be on the loan as a non occupying co borrower if I am not related? 

Also I am looking to maybe do a fix and flip in the city of Philadelphia. What are good neighborhoods that I can buy pretty cheap in, and then either hold until I can make a good profit, or unload quick for a smaller gain. I've heard good things about point breeze, but that was a year ago and I do not know the market that well. 

Thank you guys so much for the time to read my novice question :) 

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