All Forum Posts by: Mario Gonzalez

where in NJ did u buy?

that makes my point tho your  in the mid west where its cheaper and your growing fast their. Life is full of risk and so is out of state investing which i understand. 

im 26 and have around 65k to invest in my 1st property. Im located in North jersey where you don't see many good cash flowing deals. Im trying to house hack so i decided that Philadelphia will be the best. 

I have seen many people buy in Atlanta and mid west. They buy properties cheaper than my surroundings market and repeat the process all with cash flowing too

Im dying to find a 2 to 3 unit in Philadelphia market that will cash flow after living their for one year so i can start building my portfolio. 

Should the 1st rental be out of state in a cheap market or cheaper that will allow me to cash flow ? 

Any tips/feedbacks or suggestions on my current thinking. 

hey everyone, 

im new and 26 i want to house hack a 3 unit asap while the rates are low now. I want to buy for cash flow and put down 5% conventional loan or fha but areas taxes /salt is making it hard. I wanna be realistic  with whats out there and what i can get. i check areas like paterson newark etc cause other areas dont seem to cash flow and im not use to them. 

is it still possible to find a 3 unit to house hack and cash flow at least $200 per door after living in the place for 1 yr ? or would out of state be my best example philly? or even buying AC 

hello,

i have a total of 65k cash and looking to invest in a 2 to 3 unit property in philly area. I am from North Jersey and looking for what strategy is best to invest. is it best to house hack a 3 unit in a D-C class area? buy a fixer-upper duplex BRRR ? or buy a Single-family house and Airbnb it? i feel overwhelmed with the possibilities because i have been looking but have not found any cash flowing 3 unit in philly so im thinking is it the market or is it me? I read many real estate books and blogs. I could use some advice on the topic.

hey everyone, with the lowest interest rate in many months now here. Would like to purchase very soon. Im 26 with 60k for a property. I live in North Jersey which the taxes really make it not worth buying along with the salt tax. I have the following choices.

1. move to Philly and buy a 2 or 3 unit property to house hack with the hope of getting 4-6% cocr after one year living in one of the units. 

2. purchase a townhome in Philly and airbnb it 

3. purchase a single family house and rent out the rooms in Philly. 


i would be doing a conventional loan as i do want to do fha since rates are low now trying to see which method would yield me to cash flow / live rent free with some cash flow. i read many books and all say you profit when you buy so i want to buy right. i can buy up to 420k and no debt. what method makes the most sense?  i have not found any property that cash flows or breaks even which makes me think all prices due to the seller's market is over price by 10% 

hey everyone, with the lowest interest rate in many months now here. Would like to purchase very soon. I'm 26 with 65k for a property. I live in North Jersey which the taxes really make it hard to cash flow/breakeven buying along with the salt tax. I have the following choices I feel below.

1. move to Philly (which i will soon) and buy a 2 or 3 unit property to house hack with the hope of getting 4-6% cocr after moving out from one year living in one of the units. 

2. purchase a townhome in Philly and airbnb it 
to cover all cost + cash flow left over
3. purchase a single family house and rent out the rooms in Philly to break even.
4. purchase a 2 unit in Clifton NJ and have my family all chip in to pay the mortgage living with free from paying (a not good idea long term + family already does this in a one family house in Paterson which they don't mind ) 


what i am looking for is 

1. to house hack so i can cash flow after living there for 1 year and or break even. 

2. force appreciation with light rehab done to the units

3. in a C or better class area

I would be doing a conventional loan as i do want to do fha since rates are low now trying to see which method would yield me to cash flow / live rent free with some cash flow. i read many books and all say you profit when you buy so i want to buy right. i can buy up to 420k and currently no debt.  I should mention out of 60k-65k i would like to max put down 40k so ill have some funds for light rehab. i have been preapproved in both NJ and PA, been looking hard in Philly but have not found anything so far that cash flows after 1 yr. 

what method makes the most sense? and is what im looking for asking too much now in this market?

thanks for your help