All Forum Posts by: Ryan Dressel

In Conshohocken the ratio is skewed by the large apartment complexes that are rental-only.  If you exclude them, it's probably 30% rent vs. 70% own.  Also, statistics for Conshy usually include all of 19428 zip code which includes parts of Plymouth Township.  Lastly, the % of the population that rents is high, but the % of houses that are rented out is much lower than owner occupied.  Meaning 4 tenants will pile into a house, but next door is a home owned and occupied by just one person.  In that scenario 80% of the population would be renters (4/5 people), but 50% of the housing stock are rentals (1/2).  Make sense?

As for cash flow, the newer/high-end construction homes won't cash flow, the older housing stock is much more feasible, but expect a meaningful amount of renovation.  I think house-hacking would work great here, as there is a steady in-flux of jobs and increasing incomes.  For cash-flow I would wait until a down-turn in the market.  Neighboring towns such as Bridgeport, Manayunk, or maybe Ambler would cash-flow better.  Norristown always looks great on paper, but can be a bigger headache as a landlord.  

Can anyone comment on the proceedings if a former homeowner (via tax/upset sale) refuses to vacate?  

Hi All,

I found this post while searching for info on Sicily.  Perhaps some new members have experiences to share?  The prices in Sicily, and other parts of Italy are very attractive still.  I'd love to know if anyone is using an Air BnB/homeaway strategy, and what the returns look like.  Please weigh in if you have any tips or resources to share!

Thanks,

Ryan

I would agree with the others for #2, but if the window closes on the super low interest rate environment, it would make other options more enticing.  

I did a quick comparison for 2 bed room units, and found similar styles nearby going for $800-$850.  Maybe lowering the price just $50 will do the trick?

Great idea to house hack, glad you found your first investment!  I think you could run into some hurdles for your next place because traditional lenders will look at your debt to income ratio(s), and given that you only put 3.5% down, I'd imagine that might raise some concerns for the lender.  

Perhaps you could use the rent from your roommates to pay off your PMI sooner? That way your margins will improve and your DTI ratios will look a little better.

I've checked out that site, and while it can be useful, the above replies are the best way to do your homework.  I've noticed that the numbers can get skewed (up or down) if a locale has a lot of large apartment complexes.   

Yes

@Kevin Phu  See below, not sure why the upload rotated the pics.  The 2nd one is viewing it looking up from the window sill.  @Matthew Olszak Interesting idea, thanks!

@Frank S. Those floors are absolutely gorgeous! I think your solution worked well.