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All Forum Posts by: Sean Vitale

Sean Vitale has started 1 posts and replied 6 times.

Post: Newbie from Allentown Bethlehem, PA

Sean VitalePosted
  • Rental Property Investor
  • Allentown, PA
  • Posts 6
  • Votes 1
@Matt Avila thanks Matt I'd really appreciate a chance to meet and talk about your experience. Thanks I'll message you!

Post: Newbie from Allentown Bethlehem, PA

Sean VitalePosted
  • Rental Property Investor
  • Allentown, PA
  • Posts 6
  • Votes 1
Originally posted by @Matt A.:

@Simon W. - THAT has got to be the understatement of the year (or what little is left of it)!

I've come across two this year, both grossly over-priced and so much deferred maintenance that I would have considered one a tear-down.  That said, Im buying duplexes and rehabbing them... the numbers still work but they are HARD to find. I buy them cash... if anyone finds something Im all ears!

Thanks for the heads up gentlemen. I am obviously going to continue looking but I appreciate your experience on the topic. In lieu of investing in Atown where the market is jam-packed would it make more sense for a first timer like me to consider looking in the surrounding area for a duplex or triplex? Be it Whitehall, Nazareth, Coplay etc? Any thoughts?

Post: Newbie from Allentown Bethlehem, PA

Sean VitalePosted
  • Rental Property Investor
  • Allentown, PA
  • Posts 6
  • Votes 1
Originally posted by @Joe Colasuonno:

I'm on the west end also. I love Allentown for investing in multifamily. You should be able to find something that makes sense. I agree with Dave, a 4 family will get you the most bang for your buck, and still allow for you to buy FHA.

That sounds great! I'll let my agent know that the 4 family is my optimal choice. 

Do you believe a 3 family or a duplex is worth it for a first investment in our area or should I be patient and hold out for a 4 family?

Post: Newbie from Allentown Bethlehem, PA

Sean VitalePosted
  • Rental Property Investor
  • Allentown, PA
  • Posts 6
  • Votes 1
Originally posted by @David Ribardo:

@Sean Vitale, welcome to the community. If you can swing it, owner occupying a FHA 4-unit will get you the best cash on cash return since you will have very little money invested in the property. There are a few good ones on the market now, and I just sold one off-market last week. If you have any questions about the Lehigh Valley market or getting started, let's hear them!

Thanks for the guidance! I'm still in the process of saving some money right now. Have you been through the process of buying with low or no money down? I'm concerned about making sure I have enough for closing costs. Can you give me an example of what it cost in cash when making an FHA purchase?

I'm very excited to get started but I don't want to rush into something without the facts. Thanks for your help!

Post: Newbie from Allentown Bethlehem, PA

Sean VitalePosted
  • Rental Property Investor
  • Allentown, PA
  • Posts 6
  • Votes 1
Originally posted by @Joe Colasuonno:

Hey man, where do you live currently?

 I'm in the West end of Allentown right now and I still carry the label of tenant. I'm looking to get out of that situation before next summer. 

How's your experience in Allentown been?

Post: Newbie from Allentown Bethlehem, PA

Sean VitalePosted
  • Rental Property Investor
  • Allentown, PA
  • Posts 6
  • Votes 1

Greetings, I'm Sean Vitale and I found my way to BP through Mister Money Moustache on a search for financial freedom. 6 months ago I had no financial plans and I almost bought a single family home with no understanding of what that meant for my life or how it factored into the big picture. 

Presently, I am inspired by this community and I have been listening to the podcast. I'm saving and shopping for my first multifamily property with the goal of house hacking. I'm a full time worker and I really enjoy my job but I have fully bought into the Mr Money Moustache idea that work is better when you don't need the money. My mission begin like so many of you in the community have and progress to earning an equivalent income to my middle class salary. At this point the multifamily asset class makes the most sense to me. 

What do you think about where a guy like me should start? I'm 28 years old, unmarried, and happy to work full time, but I see and believe in the power of financial freedom through real estate. 

Thank you all and thank you Josh, Brandon, and the rest of the BP team for building this community.