All Forum Posts by: Account Closed

Hey Ryan,

I agree with you, expecting them to pay a fee seems a little unfair. Look into accepting Venmo, that may be an option for you. Good luck!

Hey Cole,

That sounds like a good plan and based on your strategy, I'd suggest a couple solid, yet up-and-coming, areas that'll help you to benefit from appreciation at a, potentially, higher rate. This should lend well to the refinance portion of the brrrr strategy. Some marketplaces that come to my mind are Grays Ferry, Port Richmond or Brewerytown. There are certainly other areas to consider as well and with so many smart investors here on BP, I'm sure you'll receive some other recommendations.

I would also suggest that you connect with a knowledgeable real estate agent who specializes in some of these marketplaces as real estate tends to be hyper-local and their expertise (which is usually free to you) will become invaluable throughout your decision making process. Especially if you aren't very familiar with certain areas, as of yet.

Re mutli-family properties and just so you know, they do seem to come at a premium these days.

Your down payment and type of loan will impact your deposit but some additional fees to take into consideration would be Title, Real Estate Taxes, Insurance, Transfer Taxes, Home Inspection(s) and possibly some other items. Once again, a real estate agent should be able to help you fill in the blanks.

I hope this helps and best of luck with your investment!

Good Morning BP! I wanted to share some information on the new Opportunity Zones that our government just put into effect back in April, it's now apart of our tax code. They started with only 18 states and PA is one of them. I attached a couple links so you all can do your own due diligence. Anyway, I hope some of you find this information useful, especially those of you that focus primarily on buy & hold in certain up-and-coming areas.

-CJ

PA Tract Map

Treasury Department Resource Page