All Forum Posts by: Riccardo Dalla

Does anyone have experience with OwnUp.com for mortgage financing? They provide advising and lender comparisons (then get a small cut from the lender if you close with one of their lenders). Seems to be a great tool but I'm curious to hear if anyone has used it before.

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Quote from @Rich O'Neill:

Also, @Jimmy O'Connor did an excellent write up on this a while back. I am sure the numbers are dated by now but gives you a starting point. https://www.biggerpockets.com/...

Love it, Rich! Thanks for both your replies. This is very useful!

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Philadelphia, Pennsylvania

Quote from @Eric Greenberg:

Quote from @Riccardo Dalla:

Quote from @Eric Greenberg:

Hi Riccardo,

Choosing a neighborhood can be challenging. Id ask what your goals are, type & class of property you are looking for, budget, and if you plan to hire a PM or do it on your own with your local friends/family.

Hi Eric, thanks for this. I'm looking at single family units in the $150k-$300k price range. Given my inexperience I'd like to start with a turnkey (or anything that needs close to zero upfront work). Goal would be to have a decent ($200+) cash flow and I plan to hire a PM unless I find something downtown, which I doubt.

And the plan would be for a long term buy and hold with long term renters? Would you be putting 25% down and leaving it in the deal?

At $300k purchase and 25% down ($75k) your monthly payment at 7% is roughly $1900/mo with taxes and insurance. That would mean you would need to charge about $3k in rent to end up with about $200 in monthly profit after PM/vacancy/CapEX/maintenance/etc.

Buy and hold & long term rental, yes. Plan is to put 20% down, depending on the price point.

Thank you for those numbers! I think I'm pretty confident in analysing the numbers - I'm mostly trying to figure out what the best neighborhoods are where I can find properties with those characteristics. The comments above are already helping! Do you have anything else in mind?

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Philadelphia, Pennsylvania

Quote from @Eric Greenberg:

Hi Riccardo,

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Philadelphia, Pennsylvania

Hey everyone! I'm a newbie living in Boston and want to invest in Philadelphia (family there, some knowledge of the city, adequate price point). I've started looking at and analyzing some deals, but I was wondering if anyone had tips on the best neighborhoods to look at considering profitability as well as crime rates etc.

And has anyone here had any kind of issues with crime when investing in Philly?

Thanks!!

1 Vote

Philadelphia, Pennsylvania

All Forum Posts by: Riccardo Dalla

Riccardo Dalla has started 2 posts and replied 6 times.

Post: Southeast MA Investors!

Post: Financing with OwnUp

Post: Getting started in Philadelphia

Post: Getting started in Philadelphia

Post: Getting started in Philadelphia

Post: Getting started in Philadelphia