All Forum Posts by: Nicholas Nocella

I’m a 24-year-old living in South Jersey, and I'm interested in investing in properties around Philadelphia and the surrounding PA/NJ suburbs. I’ve taken care of all my debt and am pre-approved for roughly $220,000. While I know this isn't a lot in today's market, I believe there are creative ways to make it work.

I’m a former foster child who was declared independent as a teen, so I've been living with close friends that I consider family. Given my circumstances, asking any of their family members to co-sign on a mortgage loan feels like a tough ask, as I wouldn’t want to place that kind of pressure on someone. Would it be worth exploring the possibility of partnering with an investor somehow to help with funding?

I'm also pretty handy and would be open to purchasing a property that requires some minor work before tenants can move in. My idea was I could live there immediately and also do all the minor work that would not require an actual tradesmen, which would allow me to start building equity. I figured this could possibly put me in a good position for a cash-out refinance when I’m ready to move on to a second property.

If I stick within my budget, Philadelphia seems to offer the most housing availability, but I’m concerned about most houses available being in rougher neighborhoods. On the other hand, I’ve also considered staying in South Jersey. However, given my budget, I’m worried about cash flow, although I do see this first investment as the start of what I hope to be a snowball.

*Note* In NJ I will qualify for grants up to 22k to contribute at closing- In PA it would be closer to 10k (Money leaves my pocket at closing)

I’m open to all ideas and advice as I’m going to get started this year, sooner rather than later. Any thoughts or suggestions would be greatly appreciated. Go Birds!

I love the insight and I really appreciate you taking time to respond! Let me know if there is anything I can personally help you with as well!

 Cheers!

Hey all,

I am a 24-year-old who just started in sales after graduating from college and have had a lot of success early on in my new career. However, I know that I do not want all my income to be reliant on my day job and live to watch my retirement account grow.

I am probably doing better than a lot of people my age but am eager to take the correct steps to build a real estate portfolio. I was a foster child who put myself through college on my own, and I have relied on some good friends for a place to stay as I grew up, which has motivated me to create a better life for myself.

I have done a lot of research on real estate, and from my perspective, it seems as if wholesaling, which I feel my sales skills may help with, would be a good place to start to make some extra money to speed up the investing process. From there, I would like to explore house hacking/the BRRR strategy, but I know there are rules, regulations, and connections I will need to make all this happen.

If anyone is willing to have a conversation or thinks they could use my help in bettering their real estate business in return for some advice, I would love to at the very least create some new relationships.