All Forum Posts by: Account Closed

What city/town do you plan on purchasing in?

You very well could be right. I happen to think that the amount of speculating going on in philly right now is unsustainable.

I’d be happy to be wrong though.

Who Is going to buy a rehabbed property in the hood?

@Andrew Bateman, @Jeremy Chaudet definitely knows more about the Philly market than I do.

Right now I’m trying to find a multi family in one of the areas of Philly that attracts young professionals to house hack and I’m finding it difficult. It seems to me like it’s hard to compete in this market if you’re not making cash offers as a lot of wealthy investors from nyc and abroad are buying up property in philly right now.

I looked at a market report for philly last week and if I recall correctly multi-family properties were up 25% in price from last year. 

Good luck finding a property in Philly with decent cashflow that isnt in the ghetto...

@Dan D. yes I’m sharing an apartment with a roommate. 

@Dan D. hmmmm

Maybe there is some confusion here. I’m trying to choose between buying a multi family property where I would live in one unit and rent out the others, and renting a large apartment and subletting the rooms to roommates. 

I’m either case I’m buying with the intention of keeping my expenses low and investing as much money as possible.

I don’t have a significant other or children and have no plans in the near future to have either.

@Dan D. could you please elaborate more? 

@Cassi Justiz I have a lender who will do 30% down rehab loans for investors. Although I agree that it seems hard to brrrr unless you can buy the property with cash.

@Kevin S. I understand your point, but if I don’t buy any property than I’m not getting started in investing which misses the whole point. I’m trying to compare the two scenarios with the goal of investing in real estate in mind.

@Kevin S. Above I was trying to say that if I were to rent hack, I would use the money I have saved now to make a 25% downpayment on a non-owner occupied property I can "brrrr".

@Cassi Justiz. I included the 5% downpayment as a pro above. In the "rent-hacking" scenario I would also be living for free. I currently have enough money to put money down for a non-owner occupied "brrrr".

@Alex Deacon. its not difficult to house-hack, its difficult to brrrr a house hack.