All Forum Posts by: Joseph Platyan

I just want to confirm when using the 50% rule, we only use it to compare to the mortgage amount and not taxes, insurance, etc.?

So for example a property is 100K, has 1600/month in cash flow, with a $500 mortgage per month. So it's safe to assume using the 50% rule that $1600 / 2 = $800, I would have $300/month in true cash flow for this property?

Hey,

I am curious if anyone has used a business line of credit to fund a deal before?

I own a business and I get marketed all the time with 50K-100K approved line of credits on the business.

If you have, how do you use it properly and safely?

(I'm a newbie)

Thanks!

What cap rate do you aim for in this market? Is there a cap rate that is too low for you to consider i.e nothing below a 4?

I just finished Set For Life by Scott Trench.. I have to say it was a great book and I would recommend it to a lot of my friends.

The only issue I have with the book is that I picked it up a few years too late. I wish this book was out and handed to me in my early 20s. Now 30 as I am reading this book, I noticed I have done just about everything Scott has advised not to do. I have the mortgagee, car loan, and some other small liabilities instead of taking the housing hacking approach, saving a nest egg, and using it all to create some financial freedom.

I feel like Scott needs to come out with a second version called "Set For Life (For those who F**ked up the first go around)", that way I can figure out how to get out of this rat race and to start living life more on my own terms.

I like padmapper.com it complies all listing sites for rentals into one. Also agree with the above a good realtor can also help.

Steve I’m new on here too and I use to live off E Washington in WC. Really love that town. I wouldn’t worry too much about the student regulations. There will always be high demand for rental space in that town for non-students. The issue with WC seems to be finding deals, the prices have really inflated the last few years and homes sell quick near the borough. Let me know if you ever want to chat sometime. Seems like you and I are in a similar boat.

Hey group!

Thanks for having me.

I am a new member from the Philadelphia area. Been listening to the BiggerPockets podcast for a week or two and finally created an account here.

I own an insurance brokerage out here, a week or two out from having my real estate license, and looking for my first deal!

Nice to meet all of you.