All Forum Posts by: Jeremy Chaudet

**House hacking: purchased first home in April 2013 at 22 years old- 4 beds 2 baths, lived in 1 room, rented out other 3. Made $600 profit per month while having a place to live. 

Purchased a new home May 2014, 4 beds 2 baths- moved into that one and did the same thing. Fully rented out 1st house. 

**Creative financing: Purchased house #3 in November 2014 with 70% commercial financing and approx 25% owner financing via a forgivable loan.

Purchased house #4 on February 27th, 2015- full rehab triplex. I moved out of the house I bought in May- fully rented that out (my last room) and moved into the house which was gutted on March 7th...slept on friends couches/ floors for about a week, then just crashed on a futon mattress on the floor for another 2 weeks....work is still in progress but almost done. Now I finally have my own unit to live in after all this pain and suffering!  +will make a nice monthly profit w/ beautiful forced equity :)

I can attend. I'm in Manayunk. Let me know.

Most of my investing has been in Manayunk/Roxborough. You'll never have a problem filing up vacant units there. I also live in Roxborough and love the area.

Hello,

I have one property in an LLC and the rest in my personal name. The property in the LLC happens to be managed by a property manager so they pay the LLC. The rent for the rest of my properties in my personal name are being paid directly to me.

Would there be any benefit to having all payments be paid directly to the LLC? I was thinking that this would at least help when I file my taxes and all payments are in one area. 

Welcome! I have been doing work in Manayunk/ Roxborough and could not be more pleased with my results over there! Good luck.

Does anyone have anything to say about Harrisburg, PA? What do you think of the area? What has your experience been like over there? I have experience investing in Philadelphia, however, I came across an 11 unit apartment building which sparked my interest. The property seems to cash flow quite well, but I am not familiar with that market. I'm looking for properties that cash flow well (in good areas), meeting the 2% rule (or close to it if the area is nice).  If I do invest in Harrisburg, I will be looking for multi-units to make it worth my time. 

I appreciate any and all feedback!

Thanks for all the great information guys!

Does anyone have anything to say about Norristown, PA- which is approximately 30 minutes west of Philadelphia. I have heard mixed reviews of both good and bad experiences. I am aware that the school district is not the best, but besides that, how do people view the area in terms of growth, ROI, and stability. There are many great cash flowing properties in Norristown on paper, however, if the area is not the best- things may be different. I like that it is right around the corner from King of Prussia, Conshohocken, and Plymouth Meeting.

I appreciate any and all feedback!

Welcome to the site @Jonathan Williams ! I'm from the area in roxborough and own a place in manayunk. There are a couple real estate meetups in the area- one in manayunk actually and another on City Ave that I usually go to. I would recommend those to start. Maybe I will see you there! 

Best of luck

Hello,

I created an LLC taxed as a sole proprietorship that I will eventually buy and hold rental properties in. Will my rental income from the properties the LLC owns be subject to self employment tax?