All Forum Posts by: Will Vera

Antoine Martel I'm looking at the breakdown and that's the total for closing costs no including my downpayment. Seems a bit ridiculous but maybe it's just me. I wanted you guys to chime in.

Just need a little wisdom from you guys. Closing on a real cheap property in PA 40k 20% down. Closing costs is 16% of home price. Is that normal??

Andre Green thank you for your response. The property would be in Pennsylvania 1 hr and 45 mins from work approximately 80 miles give or take. In NYC I'd only be paying maintenance so expenses are minimal. The reason I was interested in house hacking was because through my understanding there is a low downpayment of 5% if I'm not mistaking. That would help me get my foot into a multi without tying in up so much equity and after a year rent out all three units in theory.

How's it going guys? I'm from NYC decided to invest out of state. I've read about house hacking on a multi but I need some insight. Would it be possible to house hack in a 3 unit multi out of state leaving one unit vacant for the sake of me "living" there all while living in NYC? How would you guys handle that scenario? Thank you in advance

Tyler Brown I'm in a similar situation as well. Prices for a multi here in nyc is up there. I haven't been able to get good feedback yet. What part of Long Island were you planning on buying the rental property?

Marlon Wilson Steven Butala thank you!

Hows it going people My name is Will and I'm another new face here on the Bp forums. I'm from Nyc and looking to get heavily involved in the realm of real estate. Like most of you guys I've been sharpening my sword reading and listening to the Bp podcast which is a real blessing. I plan on starting off with a goal of 4-5 rental proprieties in the tri state area. Any advice for a newbie would be highly appreciated and maybe even partner up on a project or two. Why not. The more the merrier. Talk to you guys later.