All Forum Posts by: Robert Stillwagon

Hello Pocket Fam!

I'm looking to buy, renovate and rent out single family homes near Penn University and Drexel similar to what Ryan Chaw outlined in his article https://www.biggerpockets.com/.... Does anyone have a good real estate agent recommendation that really knows the west Philadelphia market around those Universities? I'd also be interested in Temple University possibly. 

@Forrest Faulconer I think you hit the nail on the head, i have to decide what the strategy is firsts and that will dictate the comparison’s I’d like to make. How do you guys thing about the trade off between long term appreciation and monthly cash on hand? 

This thread is already really fascinating. A few thoughts:

1. the real estate market cycle indicates and upcoming "pop" although the graph is a great indicator of how appreciation needs to be factored into calculations. Does anyone have methods for calculating that into ROI? (@Amit M.) I think it would really help with weighing in on af property

2. @Steven Foster Wilsoni generally tend to lean toward your line of thinking, if you can make that kind of cash flow within even a 5 year range I’d say it’s worth it. Can you provide more detail on where you got your 20k per month? I’ve heard Oklahoma City as a potential market but struggled to see properties that met the 1% rule.

I pay $2500 now. How do I factor current rent in? I agree @dakota 

@Dakota Burkeen I can’t seem to find houses that I would make it work.

Is it possible to purchase a multi-family unit in the SF Bay Area and have it make financial sense in the next 6 months OR is it better to keep renting and use that money towards an investment property in another market?

Context, I hear about the pros and cons of renting vs. buying, but most articles make it sound like using an FHA loan to buy a multi-family unit makes more sense as an investment. However, I'm struggling to make "the math" make sense. In SF, the max limit for a multi-family unit is 1750,000.00 which already cuts down the market. But also, at $1M the 1% rule makes it sound like I'd need to find 10,0000 worth of rent on a 2 unit property for it to make financial sense. Can someone help me understand?

Are there areas where owning a multi-family unit (and qualifying for an FHA loan) makes sense near SF?

If the above isn’t feasible, my plan is to invest in a rental property in a less expensive market.

How do i factor in the cost of renting vs. paying more on my own property?

Any help is much appreciated.

@Kevin M. Thanks for the advice! Have you found specific neighborhoods in temple university more /less effected by covid? Have you had any issues with collecting rent this year?

Would anyone have suggestions for neighborhoods in northern california? (SF resident hear)

@Jerome Lewis Jr the question you listed were really useful!