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All Forum Posts by: David Huppman

David Huppman has started 1 posts and replied 13 times.

Thank you @J Martin for hosting!  It was great meeting some members and getting some advice on different ways I could start out.  I am looking forward to the next event!

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
Originally posted by @Account Closed:

Weclome to BP, I am not the biggest fan of the book but that is truly a great lesson that I learned from Rich Dad Poor Dad also.

Great luck.

 Greg,

 I can certainly see how Kiyosaki can rub people the wrong way, but I am trying to use what I read in his book as an inspiration more then an exact blueprint.  I like to take in as many different points of view as I can to see what fits best for me.  

Thanks for the well wishes!

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
Originally posted by @Brandon Turner:

Hey @David Huppman welcome to the site! Definitely start jumping into the community here! Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.

Also - be sure to check out House Flipping: The Best of BiggerPockets. There is a ton of flipping resources there.

Finally -be sure to setup some keyword alerts - especially for "Media" so you can jump into local conversations.

See you around the forums! 

 Thank you, Brandon!  I am actually reading the Ultimate Beginner's Guide as we speak, and will queue up the House Flipping link you sent as my next read for this weekend.  There are so many good resources here it is a little overwhelming to know where to begin, but I am not complaining!

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
Originally posted by @Dave Visaya:

Hey @David Huppman welcome to the site! You made the right choice in checking out BiggerPockets. Definitely jump in the forums check the blogs, and interact! Also, use keyword alerts on the upper right to get notified whenever keywords, example your target area is mentioned.

Originally posted by @Dmitriy Fomichenko:

Welcome to BP community @David Huppman It is a great place to meet new friends and learn about various aspects of real estate and more.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Wishing you the best!

Thank you both for the tip on using keyword alerts, I am still learning the forums functionality as well!

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
Originally posted by @Elizabeth Colegrove:

@David Huppman  

Welcome to Biggerpocket!

A personal property is only a liability if you let it be. Many people we know rent out their rooms having someone else pay for their asset and they live there free. We personally love buying as many "future" rentals as possible as personals. My husband has a transient job, the Navy. We buy personals properties and renting them out when my husband is transferred (Navy). We also buy pure rentals when the number works. our market is class A properties managed all over the country as "home" is only relevant to the current set of orders.

Definitely check out the podcasts, blogs and forums. They are awesome resources. While everyone agrees on investing in real estate, that is where the similarities end. Everyone has their own niche, rules/business plan that is their key to success.

Another great resource is individual signatures. Many of us, including myself have websites/blog located in our signature that we discuss our strategy, plan, etc. This is a great way to find more about a specific personals "niche"/"strategy".

Everyone has their own unique strategy based on what works for them. 

 I was not very forward thinking when I purchased my house originally and got one that is not well organized to support bringing in a renter.  I have one extra bedroom with no closets which is directly next to my master bedroom.  There is also only one small bathroom for the entire house.  If I could do it over again I would have though more about a potential renter, because it is something I wish I could do now.  When I do eventually move I plan to rent the whole house out, though, since it is in a pretty good location right in the heart of downtown Media.

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
Originally posted by @Dave Shellenberger:

Hello and welcome.
I'm up the street in aston.
Currently working on two major rehabs in Ridley and boothwyn, either of which a traditional bank would lend on- however there are a few out there- call them all.. I'd also chat with a hard money lender, that could be beneficial in landing a deal, given the amount of cash you have available- ive used rehab financial group on the mainline- and would recommend them.
Lastly - delco is extremely competitive - jump on Mls leads ASAP, as they go quick- I wish you luck.!

Hi there Dave! Good to hear from someone doing the same type of projects in my area. I am certainly trying to review the MLS quickly when I get it each day. I was looking into getting a real estate license for myself but it didn't seem cost effective, at least until I get a couple deals under my belt. Thanks for the tips on lenders, I will keep looking.

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
 @Steve Babiak
That certainly does interest me.  I am always looking to absorb as much information as possible and believe learning is always valuable.  I will be in touch!

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
Originally posted by @Mark Gallagher:

Talk to a local lender about Fannie Mae HomePath Renovation Loans and Fannie Mae HomeStyle Renovation loans. Both would include rehab funds. HomePath is going away soon though. I can refer someone if you'd like; send me a message. 

 Thanks for the advice!  I met with the mortgage broker at my local bank and he made no mention of this program.  I guess they don't offer it in their office.  I will definitely be taking a look!

I am out in the suburbs but as a new member I would love to attend.  I will definitely try to make it!

Post: Looking to make the leap, from Delaware County, PA

David HuppmanPosted
  • Engineer
  • Media, PA
  • Posts 13
  • Votes 4
Originally posted by @Brian Ortins:

@David Huppman 

I recommend that you look into local networking events to pick the brains of local investors. Once you get to know these local investors, you may find that one of them would make a good partner on your first deal. You could get into a deal with the money you have available as well as gain experience and prevent making significant mistakes. Keep in mind that partnerships are like marriages, so get to know these potential investment partners on a personal level. Ask about their experience and why you would invest with them.

Thanks for the tip! I looked into the local REI clubs and the closed to me I saw was the Montgomery County Investors group which is a little distance.  Do you know if there is one centered in Delco?