All Forum Posts by: Account Closed

I am pre-approved and ready to house hack a 3 unit in Philly. I don't know the area that well so what strategy should I use to determine how good an area is? I just want it to be safe and not too bad, nothing fancy. Any philly investors can help me out here?

@Richard Sherman i told her i was living in one unit. So i want to know if i live in one unit on a 3 family house i can put 5% down conventional not fha

Was lied to by univest about pa being able to put down 5% conventional loan on 3 unit properties. Can you put down 5%on a 3 unit?

Im applying for a mortgage at univest in PA. The lady lied to me says i can put 5% down conventional loan on 3 unit than after doing a hard inquiry on my credit. She says i cant without 20% down. This is such bs. She said you cant put down 5% conventional loan on 3 units in PA is this true ??

@Zachary Paul hello im interested in investin in Philadelphia 1st time investor looking to house hack from North NJ can i ask you for some help?

@Sen Ando no way, where in north Nj? I was trying to do that now in paterson but taxes are killing cash flow and prices dont make sense at the level they are currently. Along with the new tax bill, i was hoping Philadelphia was a good shot as i did see allentown as a choice too but not sure

@Richard Jahnle i am trying to by me but property tax are 10k plus and kills cash flow along with the new tax bill. That's why i was looking for pa has its cheaper and possibly hit my 8% cap rate goal while living in one unit. Trying to see what areas are good or up coming so i can pull the trigger and buy

@Alex Deacon your right, market crashes ill feel better about buying. For now, im just going to buy if numbers work and not second guess

Im in North NJ and i have been researching rentals in both Philadelphia pa and north NJ areas. Interest rates are increasing and im trying not to panic. Im trying to do the following Buy a 2 or 3 unit property to house hack, rehab a little and use a conventional loan 5% down and living in on room in one unit, rent the rest rooms out on airbnb. Trying to get 8% plus cap and live rent free with $600 plus per month in cash flow. Im trying to compare and see over 10 years down the road. Which would come out better in terms of financially as cash flow is all i care for. How should i choose and pick? Any advice that can help me pull the trigger

I live in north jersey and decided Philadelphia is the best market right now for me to start investing. I was contacted by a realtor who isn't a investor and would feel more comfortable with someone who is. Im looking for some information regarding the following. Every market has their obstacles and challenges. With that being said, what are some problems in the Philadelphia market? 1. What are some up & coming areas ? 2. Whats the transfer tax ? 3. Which tenant laws should i know 4. Any tips to help my search in finding 7% plus cap cash flowing place? Im looking to purchase a 2 to 3 unit property with a fha or conventional downpayment 5% no debt 800 credit score. With the increase in rates, i want to act fast. I will be house hacking as i commute to NJ for work till i find a new job in pa.