All Forum Posts by: Vinod Badami

Hi Mike, thanks for your reply. I agree that the lowest cost option makes the most sense to me. Though I also believe there can be some creative ways to leverage your home equity to buy multiple properties and am hoping some of the others can post on this.

Hi Peter, very true hence I keep scratching my head on the 'wealth creation' aspect of managing so many properties for cash flow. IMO I would think appreciation is a better goal but then I have seen many posts on BP where folks have done well on the former approach.

Hi Joseph, thank for your reply. So I am also just starting out on this journey so want to start small. I know very little about Philly from a RE investing perspective. How would you suggest I start? and what should I be looking for? My understanding is the Philly is one of the hottest rental markets so was wondering should I be looking for a one bedroom condo, two...downtown or on one of the train lines a little outside Philly?

Hi All, have been ardently reading BP forums, listening to podcasts and webinars  and think I am ready to take the plunge into investing in a rental property. Where I need advice is - my primary home is fully paid up so I have a good amount of equity, should I pay for the rental property completely using my home equity or should I only take the down payment from the home equity and get a mortgage on the rental? Getting a mortgage means I have to pay significantly more in closing costs while getting a HE loan is basically free. It seems like a no brainer but want to learn from the pro's on BP what the best way to go is?

Folks, this is great thread with a lot of good info but I have one issue with the general approach  - @ $200 per door cash flow per month as stated in one of the earlier posts it will take a long time to to get to income you can live on. One would have to build a portfolio of 30 units to get to $6K per month which while decent is not income one can retire or live comfortable on in high cost states - and finding 30 good deals will be impossible in today's market (genesis of this thread). I have been reading many articles on BP and am still trying to find the best way to build "wealth". Buying MF units which have little or no appreciation does not seem to be the way. Am I missing something?

Hi All, I am interested in investing in Philadelphia. Want to start small. Any guidance is welcome. Any Philly investors or agents?

Thanks

Hey folks, new to bigger pockets and real estate investing to some extent. Looking for opportunities to invest in Philly. Can any Philly investors or Agents help?

Thanks

All, I am in NJ but the challenge is the same as described above. I am also new to this. So when you say cash flow do you mean (rental income - all expenses - mortgage payment (P&I)) = cash flow  - at the most basic level? Right?

Hi Anthony,

National Tenant Network is a service you can use to screen prospective tenants. I believe it costs about $40/- per screen. That is one I know of. There are probably others.

Hi Ron, I have heard the Poconos is a great area to invest in especially for vacation properties. Have you looked into that? I would be interested in what areas are hot and any A, B, C properties and typical cap rate type information.