All Forum Posts by: Ernest Wade

Quote from @Dan Powers:

@Ernest Wade It all depends on what kind of returns you are looking for. West Philly (19143 & 19139) is a very common area for this to take place. I agree with @Autumn Cain 19121 has good potential as well but you will most likely want to be south of Cecil B. Moore as north of there is still developing. I also really like 19131, 19120, and 19141 for Brrrr's, solid rental pockets and good refi values. 

 I more so looking for a class A to B area that can produce a little cash flow but more of a equity play. I'm interested in areas where tenants want to live rather than the push for high cashflow. price point between $100K to $250K. I will check out those zip codes. Thanks

Thanks, I will look into that area

I'm interested in Philly is due to a group of investors I meet like that area. Looking at doing a partnership in an investment property. So I want to start looking at the best areas to invest in and do some research for myself
 

Hello BP, I wanted some help with what some of the best zip codes and or Neighborhoods to invest in/around Charleston? Looking at a strategy to Brrrr or light rehab to rent out to long term tenants. Any advice would help Thanks

Hello BP, I wanted some help with what some of the best zip codes and or Neighborhoods to invest in/around Philadelphia? Looking at a strategy to Brrrr or light rehab to rent out to long term tenants. Any advice would help Thanks

I currently have a duplex rental in a which I was looking to sell with 100K equity. I own it 50/50 in a partnership with a family member. My question is if we end up selling can I 1031 exchange my percentage of profits into another property? Meanwhile my partner will want to keep their percentage and pay taxes on their profits.   

Hey, I would say someone would be interested in cash flow from the property, the tax benefit and the appreciation. For the money someone invested payout a percentage for cash flow monthly, give a percentage of the property to right off on one's taxes and last set up terms for the appreciation/equity that will be built over time in the property in the event you sale or do a cash out refi 

Quote from @Val Johnson:

Hello Victor @Victor Funes! Im Val from bay area and I live in Lathrop! Im interested in out of state real estate investing looking to buy a duplex in Cleveland!!!

Hello Val, I came across this thread was curious to know if you ever ended up investing in Cleveland? If so how is that going for you? I’m a California investor looking to invest that market as well. 

Quote from @Patrick Gallagher:

I'm in California, can I qualify to purchase a Fannie May HomePath Ready Buyer home with an FHA loan, if I own a $130,000 duplex income property in Cleveland, Ohio? I would intend on making the CA property my primary residence and meet all other requirements. I thought there was a loophole somewhere in there, though I know the HomePath program does stipulate you must be a first time homebuyer. I thought there might be something about that language that would make it still acceptable since the property in Cleveland is not my home.

Hey Patrick, 
I moved back to California from Colorado a couple years back. I bought a condo in Colorado and turned it into a rental property. First thing I did when I moved back was I found a duplex in Sacramento to house hack and I was able to buy using a FHA loan. There was no aaaaissue with the lender

Thanks for all the insight. This will be very helpful going forward in my investment future 

Quote from @Todd Rasmussen:

@Ernest Wade

Find an agent who is also a property manager as step one. That guarantees they work with investors and gives them the most motivation to give you time before you are an income stream for them. I think this is a must for starting in a market area. They will also know contractors that can give you some quotes. During closing you can concentrate on contractor selection if you don't have time before then.