All Forum Posts by: Inna Pakhalyuk

@Yechiel W.Thank you! 

I live in this zip code myself, therefore I'm very familiar with what areas to stay away from. Just like with any neighborhoods there are some questionable areas, and this one is not an exception, but overall this particular duplex have been occupied for 4 years with no vacancy. Even during Corona virus, all my tenants have paid their rents. 

One thing I need to work on is raising rents. Currently I rent both floors for $1,000 each, but it can easily rent for $1,150 each. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $200,000
Cash invested: $200,000

Bought a twin house that was converted into a duplex.
Monthly income from 2nd floor is $1,200 and first floor $800.
I plan to tap into equity by getting HELOC, but Im faced with an issue of fining a lender that will open HELOC against investment property. Its very difficult to find one unfortunately. Any suggestions are appreciated!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $200,000
Cash invested: $200,000

Bought a twin house that was converted into a duplex.
Monthly income from 2nd floor is $1,200 and first floor $800.
I plan to tap into equity by getting HELOC, but Im faced with an issue of fining a lender that will open HELOC against investment property. Its very difficult to find one unfortunately. Any suggestions are appreciated!

@Ararat Vardanyan 

I purchased this duplex in 2016 back when the market started coming up in northeast area, I try to concentrate on zip codes 19114,19152, 19154 since you still can get a decent deal here and good, qualified tenants.Location is close to 95, Roosevelt, Turnpike, local strip malls which is appealing to renters, and no problems with parking. Opposed to 19116,19115, 19053 its overly saturated, over priced, where most duplexes sell for cash in high $300,000. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Philadelphia.

Purchase price: $190,000
Cash invested: $25,000

Purchased as my second investment through local credit union, got a great 30 years note with 3.87% fixed interest rate. Property needed a little TLC, but mostly cosmetic work, thats why I bought it. Currently duplexes in this area sell for $300,000. Renting out each unit for $1,000 a month.

What made you interested in investing in this type of deal?

Close proximity to where I live, so I can keep an eye on it.