All Forum Posts by: John Knisely

Don't need termite or radon. Chipping paint both interior and exterior is a big focus, handrails on steps 4 or more or larger drops (porch for example). Property needs to meet general safety and functionality items such as running water, heat etc. Hot water heater needs a TPRV discharge tube terminating less than 6 inches from the ground. Appraiser is the one verifying these items too, NOT the home inspector. 

It's pretty straightforward with Citadel. Online application through their site, AVM or in person appraisal depending on what you are claiming your property value is and then the typical paperwork. No fees or anything if I recall correctly. Easy to access the money and they have a good presence in Delaware and Chester county.

Hey Chris I'll message you with my lenders info. He and I do a lot of househacking business together and his office is in Blue Bell, so not far away. 

Hey Kyle, the agent directory on Biggerpockets is pretty solid. Connect with a few agents through that and see if any are a good fit. As an agent I get contacted regularly by potential househackers and investors and its a great starting point for agents who understand what you are looking for. 

Try Tower FCU. They actually have a 100% LTV product but I don't know if they have an appetite for 2-4 units. I have a 90% LTV HELOC owner occupied on my triplex with Citadel FCU. Solid option too.

Construction is humming along like crazy in the Philly suburbs. Homeowners are spending vacation money on trips they didn't take and doing additions, improvements etc. Great time to be a competent contractor in my area, the phones are ringing off the hook for these crews. I know investors are being somewhat cautious on new project acquisition and being more conservative on numbers. Homeowners and househackers are also rolling up their sleeves and buying that project house to try and stretch their dollar a bit farther and get some sweat equity.

Rentwell is solid. Shoot me a message if you want an email intro to their business development guy. 

Hey Dominic, shooting you a message with info for one of my contractor contacts who does 203k projects.

You could talk to iFundPhilly or Spring Garden Lending. They'll definitely close quicker and more flexibly than FHA. Look at your options to refi to a traditional long term loan, might need to wait 6 months after the purchase. Could also look at a true private loan situation and then refinance that when you have more time after the purchase is closed.

Hey Christopher, I'm from Media as well. Let's connect. Happy to bounce some ideas around with you.