All Forum Posts by: Nathaniel Irizarry

The area is a good one surrounded by shopping and 2 blocks from a hospital. From the pictures, the home looks decent, I'm going to view the property in a couple days with my brother who is a contractor. The homes are typically not expensive in this area of PA. Here are the numbers:

Multi Unit Financial Information
• Gross Income: $18,600
• Insurance Expense: $1,500
• Tax Information: Annual Amount: $1,008

Unit Type 1 (tenant occupied, undermarket rent)
• # of Bathrooms Total: 1
• # of Full Bathrooms: 1
• # of Bedrooms: 1
• Actual Rent: $450

Unit Type 2 (tenant occupied undermarket rent)
• # of Bathrooms Total: 1
• # of Full Bathrooms: 1
• # of Bedrooms: 2
• Actual Rent: $600

Unit Type 3 (recently renovated not occupied)
• # of Bathrooms Total: 1
• # of Full Bathrooms: 1
• # of Bedrooms: 1

I'm just starting out and have never owned a home. I found a triplex in Pittsburgh, PA that could give me some cashflow, the price is $139k. I want to move to Kissimmee /Orlando area soon in 2024. I was thinking if I get this triplex and then purchase a manufactured home in Kissimmee for $70k, the cash flow from the PA triplex could allow me to pay the mortgage and fees on the manufactured home just so I can get situated in Florida. I am thinking that once in Florida I will spend this year wholesaling and developing that side of the business for additional funds to save for my next investment project. Would I even be able to get two mortgage loans in such a short period of time? I'm just really trying to think of ways to move to Florida ASAP and multifamily homes are expensive there at the moment. I'm moving there to be close to my son and daughter and grandchild. I have a remote working job so I can go virtually anywhere with a good W-2 income.

Thanks!

Thank you both.

Thanks.

Hello,

I'm looking to relocate to the Orlando area, I've only recently been learning about real estate investing and I would like to connect with people and learn and build relationships. I'm also looking to purchase my first home, preferably multifamily, to house hack.

@Chris Seveney What in particular is the fund you mentioned that starts at $5k minimum? I'd be interested as well.

I'm just getting started with property investing and want to purchase a multifamily home and househack. If I was to borrow money from my parents for a $100k down payment, how would I draw up a contract or record taxes on a personal loan. Do I offer a interest rate, and how do I report this for tax purposes?