All Forum Posts by: Jack Perfett

@Todd Lennig Thank you Todd. I appreciate the suggestion

@Michael Williams Very interesting. I would have never thought that there would be laws on such a topic. Appreciate the response. Take care

@Danielle Jackson As this being my first deal I am thinking I can manage the finances on excel fairly easily. I agree, the more doors I acquire I think it would be a smart move to transition into a packaged software! Thank you for the response!

@Jon Kelly Thank you for your response. Do you leave any remaining cash flow in the deposit account or do you have a cash flow/savings account? Thanks in advance

@Todd Rasmussen Thank you for the reply I will certainly look into that software. I aprrexuate the recommendation

@Austen Mueller thank you for the response. I am currently living in Central Pennsylvania as well as I am finishing up my last year at Penn State. When I return from Christmas break I would love to meet up!

Hello Bigger Pockets Philadelphia Community! Let me introduce myself. My name is Jack Perfett and will be moving out to Philadelphia for my first job out of college in May. I have been studying any source of real estate information I can get my hands on the past two years and now it's time to put that knowledge into action. My plan to start in the REI world is to house hack a multi family as I think this is the best route to get started.

The one question I have is in terms of managing finances. So when taking the correct percentages our for Capex, Repairs, Vacancy, etc. how do you manage where this money goes? Do you have separate bank accounts for each, or do you place them all in one bank account and then track them on excel or some other finance management software.

I look forward to getting to know some of you as I am always willing to connect and have a chat or grab coffee,

Thank you in advance and wish you all the best!

Jack Perfett

@Yuriy Skripnichenko thank you for the valuable market Information!

I am in the process of underwriting deals and I'm noticing that it is difficult to find a cash-flowing property when I plan to house hack a multi family with a 3.5% FHA loan. With only receiving rent from one unit and the added cost of mortgage insurance is it realistic for me to expect properties to cash flow? They cash flow when I run the numbers with two different paying tenants but they don't if I was to live there. Thank you in advance for any responses! :)

I am currently in the process of working with a whole seller and they are telling me that no seller disclosure form is included in off market deals. I just want to make sure that this is a normal practice and I am not being scammed.