All Forum Posts by: Joe B.

Thanks for the response @Alex Deacon. In my area, there are some amazing townhomes for under 140k that are relatively new. 

I was also looking into duplexes, however, they are in some pretty bad areas for my price range.

Hey guys, quick question here. What are your thoughts on townhomes? Anyone invest in them and househack it? Or would a SFH or duplex be the way to go?

Thanks Bill. With a limited budget, you think that would be attainable? What are you thoughts on townhomes? Or are they too similar to condos.

Thanks! The only downfall is that there arent that many 2-5 plex where Im at, according to zillow at least. What are your thoughts on apartments?

Hello BP family,

Ive been studying and reading nonstop on REI. Property in my area is rather affordable compared to other place and Wilmington is growing. Now, in a few months after saving a bit more my goal is to get my first place. Im currently living at home with my parents, but I do have a few options.

-Purchase a SFH with fha loan live in it, and rent out the other rooms. This would allow me to move out, experience RE first hand and hopefully make some money out of it

-Purchase a vacation condo. This one is totally random, but a neighbor of mine has a vacation condo and is netting about 10k annually. This condo is in the 160-180k range and my father would most likely go in 50% with me on this since it has a property management company that does pretty much everything; so its appealing to him. (Hes a retired guy, so hes not looking to be a landlord anymore)

-Purchase a duplex. Id use a fha loan, live in one side and rent out the other. 

What are your thoughts? After listening to numerous BP podcasts, they always say that its easy after you do it the first time as are other things :p.. 

Any thoughts or advice?

Thanks!

Awesome thanks for the replies. I assume the best way to buy below market value would be to talk down the asking price? Any other ways?

Hey guys, been doing lots of reading, listening to podcasts on how when you first buy a property, you should be making money. What exactly does that mean? Should the property have renters in place already? My plan is to use a FHA to buy a duplex as my first property. If not use a fha to buy a sfh. How likely is it that property does have renters in place? Is it a crapshoot?

Hey all, been lurking for some time now, listening to podcasts daily trying to learn as much as I can before getting my first property. Im living Wilmington NC area and its growing like wildfire here; tons of new houses, apartments, restaurants being built and its great to see. 

I dont want to have "analysis paralysis" but Id like to purchase my first property within the next 6 months (need a few more months of saving first off). For some reason with my luck, I feel there will be a heavy market correction in real estate (just looking at general patterns). Regardless, my long term goal is to become a buy and hold "expert", ultimately have 7 properties by the time im 37 (26 now) and have true financial freedom. I was always a big advocate on condos, however I have taken that out of the equation and will look into SFH or duplexes.

Im always learning a lot by reading and the podcasts so thank you BP family! I look forward to learning more. 

Haha wow talk about crazy luck