All Forum Posts by: Anthony Bobbitt

Hey I'm in Central PA about an hour away from Philadelphia. What are you looking to buy?

@Mason Hickman yes it is a duplex with both units occupied! My worry had to do with a worst case scenario exit plan which would be to resell but since I’m starting the deal off $1500 under I was concerned. He agreed to a purchase price of $94,000.

Thank you for your feedback Mason. Extremely appreciated.

The purchase price for this property was $95,900 and the numbers worked out. The appraisal came back at $93,000..which is all the bank will lend on.

The seller agreed to split the difference at $94,500 meaning I’d have to bring an additional $1,500 which would come out of pocket along with minor repairs I’d have to do. The numbers would still work but is it smart to pay more than a property is worth in a time where lots of things are unknown?

I am looking at a property and the seller does not want inspection done. He says he does everything required by the city. The selling agent said he never agree to inspections even with cash- unless it is for information only purposes or there is a limit like "no more than a $590 dollar credit for repairs"

Is that normal? It has me a little suspicious.

I'm a 19 year old leaving in Central Pennsylvania. I would like to get started in real estate within the next year. I have a pretty descent job making roughly $40,000/yr. I save/invest roughly 70% of my income because I still live my parents so I am fortunate enough to not have to worry about living expenses like paying rent and food. I would like to get into real estate investing as soon as possible, so my question is should I move out so I can qualify for a home occupied loan and get in sooner with a low down payment? (this option can happen sooner and will have me learn managing hands on while living in the property but will require me to start paying for stuff like food, internet, small household items, etc..)  Or should I save up for a conventional loan where I can do a more traditional buy and hold while still living with my parents? (which would take longer) 

One more question I have is do you think I should tell my future tenants I own the property? (considering the age I will be)