All Forum Posts by: John Humphries

Jason Halpin I could do the 24th if you still want to try to make something happen

Travis Hunter - Harris I would definitely be interested in meeting up. Weekends or evenings would be great

Hey Jason! I'm down in the Dover area and working on my first deal as well. Feel free to shoot me a message or something if you ever want to talk shop, strategize, whatever. What's your background? 

As far as I understand, you must move into a unit within 60 days if you're financing with an FHA loan. I'm not sure what the window is for a VA loan but I'm sure it's similar.

Hi Maila! I'm trying to do exactly what you're going for here in dover. I'm working with Peter Shade of Burns and Ellis right now and I really like him. I've gone through a few agents this year because most of them just dont understand what makes a good rental. Peter is an investor himself (though not in Multifamily) so he has a pretty firm grasp on what an investor is looking for. If you want, I can PM you his contact information.

Hi Melissa Sadler , and welcome to the forums! I'm in a pretty similar situation to you at the moment. Newbie, listening to podcasts with every spare second, and hungry for my first deal. I'm about an hour and a half away from Coatesville so I'm not intimately familiar with the area, but last year my best friend was living in a triplex there and he was paying $1,000/mo for a studio apartment. I don't know what property values are up by you, but that's way more than I could ever get for a studio here in Dover. I think you could be very succesful there if you play your cards right and find the right deal. Best of luck to you!

Eric Armstrong Thanks for the tip! I'll definitely check them out. Do you have any recommendations for local banks and credit unions that you've worked with before? Securing financing has been an issue for me because up until about two months ago I was working off-book under a contractor. I finally have some verifiable, steady income, but I don't have months and months of pay stubs yet. My credit is decent, but I'm 21 so I have very little borrowing history. I have one credit card and I pay my rent and other bills on time. Financing is my biggest hurdle right now. I haven't sent out any letters just yet. I don't want to waste people's time if I'm not going to be able to close in the end. Rasheema Abduls-Salaam I'm focusing primarily on Kent County, and more specifically Dover, Camden, Wyoming, and Magnolia, but since DE is so small I try to keep my eye on listings state-wide. I probably will end up house hacking in a multifamily eventually. I've been looking at FHA loans, but I definitely wouldn't qualify for one right now due to the gaps in my employment history. I thought I might do the first one under a conventional loan and in a year or two buy another with FHA. Apologies for any typos...fat thumbs on a little keyboard.

Hello all, My name is John Humphries and I'm currently living in Dover, Delaware. I'm looking to get into buy and holds, especially small multifamily. I have about $65,000 to invest and I've been searching on and off for about two years for the right property. I just discovered BP a few months ago, though, and my eyes have been opened to just how much I don't/didn't know. I drive for a living, so I try to listen to about 4 of the BP Podcasts every day to help me break through the learning curve. I'm hoping that there are a few local members who will come across this post and give me some specific pointers for our market! All the multi's that I have looked into are way overpriced, falling down, or in really bad neighborhoods.