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Updated about 1 year ago on . Most recent reply

User Stats

5
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Larry Williams
2
Votes |
5
Posts

Who can help me make to best next move?

Larry Williams
Posted

Hello everyone my name is Larry I’m 19 and I am looking to get advice on my first house hack in the Philadelphia area and network with fellow investors and real estate professionals.

Currently I have one property in North Philly gifted to me from my parents (ik they’re awesome) that I own free and clear worth 100k bringing in 800 monthly gross. I want to get into my first hack and I need advice on

  • should I pull equity from my property to cover repairs and down payment
  • What neighborhoods should I consider with my price range being 200k for a small fha multi family (I’m not entirely sure how much I can qualify for yet. I make around 2700 gross from my job. My job is in audubon so I’d like to stay within 45 min commute)
  • Where are the best neighborhoods to invest for mid and short term rentals within my price range. I’m considering student housing and air bnb to fill gaps of vacancy if there is any

There is a lot of other things I need help with and I am looking to connect with as many people as possible. Thanks in advance and I appreciate this community for educating me thus far.

  • Larry Williams
  • Most Popular Reply

    User Stats

    583
    Posts
    355
    Votes
    Dan Sheeks
    • Rental Property Investor
    • Denver, CO
    355
    Votes |
    583
    Posts
    Dan Sheeks
    • Rental Property Investor
    • Denver, CO
    Replied

    My advice would be to read the Bigger Pockets’ books The House Hacking Strategy and First to a Million (and the workbook). They're written for young aspiring investors just like you.

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