All Forum Posts by: Account Closed

@Ben Sosa just don't want to I could invest in Paterson which is the same

Hey everyone, I just re-did my taxes so I can qualify for an FHA. I am stuck between moving to Houston TX or Philly to start investing in properties and starting my life. My main goal is as followed

• House hack live in one unit rent free
• Make $1k net per month
• Have 30k-40 equity after rehabbing the property
• 2-4 unit property
• what I have as my financial outlook is as follows

• 177k-182k
• 2k debt
• credit score 775
• I have year w2 with business income shown

I (CARE ONLY ABOUT CASH FLOW I DO NOT CARE ABOUT APPRECIATION), and for that reason want to find a 3 unit place, I do not want to go to Newark and I am from Paterson NJ which I don’t mind hands on. Its either buy something here NJ north or move to philly or Houston were both are growing.

Can anyone tell me their experience and if they are cash flowing 1k or more net and where are good areas to look to buy?

Hey everyone, I just re-did my taxes so I can qualify for an FHA. I am stuck between moving to Houston TX or Philly to start investing in properties and starting my life. My main goal is as followed

• House hack live in one unit rent free
• Make $1k net per month
• Have 30k-40 equity after rehabbing the property
• 2-4 unit property
• what I have as my financial outlook is as follows

• 177k-182k
• 2k debt
• credit score 775
• I have year w2 with business income shown

I (CARE ONLY ABOUT CASH FLOW I DO NOT CARE ABOUT APPRECIATION), and for that reason want to find a 3 unit place, I do not want to go to Newark and I am from Paterson NJ which I don’t mind hands on. Its either buy something here NJ north or move to philly or Houston were both are growing.

Can anyone tell me their experience and if they are cash flowing 1k or more net and where are good areas to look to buy?

@Michael Pittman thank you, what I'm looking for an either a 3 to 4 unit family house in C class area or better, all i care about is cash flow. I like two stories but not too far from the main cities you know.

Hello,

i am planning on moving to Houston in the summer im from NJ. I will be using an FHA loan, my goal is the following

1. positive cash flow

2. instant equity 20k to 30k

3. live rent free

what are some good areas for positive cash flow areas? and which areas should i not? what should i know about the taxes and how things work there. 

love bigger pockets im in the same path 25 about to look for a 3 or 4 unit muti fam to house hack and buy another under my moms name to have two but im worry about the property tax affecting cash flow and most cash flow that are good are in D class areas am i wrong?

Im asking people in NJ cause high taxes in property and with the new tax bill wonder if its still worth it

in paterson nj or nj north yes its possible to do that you buy a 2 or 3 unit family home fha and live in one unit and rent the rest. For LLC ill set that up after i purchase the home already

Hey everyone I am waiting until April to buy a 2 family house hack the property looking to buy a fixer-upper to add equity and get a decent cash flow after 750 to 1200 net, I am in between staying or leaving to buy a place in Houston Texas since its growing now with trump tax bill capping to 10k will it be worth it to buy.

what am I looking for? whats my plan?

I am trying to find a short sale or foreclosure with FHA to buy than get a 203k loan than live in one unit and rent the rest out for a goal of net 750 to 1200, equity to have 25k to 35k in the property, i have 40k cash for it could get access for more but I don't wanna tie up too much I want to leverage my funds. I am from Paterson, i don't want to invest here but worst case i might if I can get it cheap/ now i know the supply is limited i understand that but i wouldn't want to overpay for a property cause you will be in the red already. cash flow is more important to me, i will form an LLC when buying the property. with high taxes will buying a property here to house hack make sense still? any investors making 750 to 1200 net per month can you give me your experience?

Hey everyone I am waiting until April to buy a 2 family house hack the property looking to buy a fixer-upper to add equity and get a decent cash flow after 750 to 1200 net, I am in between  staying or leaving to buy a place in Houston Texas since its growing now with trump tax bill capping to 10k will it be worth it to buy. 

what am I looking for? whats my plan?

I am trying to find a short sale or foreclosure with FHA to buy than get a 203k loan than live in one unit and rent the rest out for a goal of net 750 to 1200, equity to have 25k to 35k in the property, i have 40k cash for it could get access for more but I don't wanna tie up too much I want to leverage my funds. I am from Paterson, i don't want to invest here but worst case i might if I can get it cheap/ now i know the supply is limited i understand that but i wouldn't want to overpay for a property cause you will be in the red already. cash flow is more important to me, i will form an LLC when buying the property. with high taxes will buying a property here to house hack make sense still? any investors making 750 to 1200 net per month can you give me your experience?