Starting PA portfolio

Starting PA portfolio

Member since 2019 · 2 posts · 0 votes

After lurking for a long time I have decided to post. At 33 years old my wife and I have decided to look into building up a real estate portfolio to help supplement and possibly bring about sooner my retirement.

Just to be clear I am very happy in my career and am not looking to quit my job. I want to maximize my current skill set and investment opportunities. Initially we plan to purchase a rental and start there mostly likely a duplex. I have no plans to touch the cash flow, just going to continually reinvest until it is paid off, slowly working toward buying another

Eventually I know I'll try a flip if anything for diversification. I feel fortunate that the skills I have picked up over the last 10 years in my current career will overlap with what it takes to organize and schedule a flip.   I have no experience doing either but I am finding many common denominators between my career and how I analyze my investment picks for the stock market and the structure of a successful rental or flip.  

Not a very informative post but its a start! 

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Rental Property Investor · York, PA · Member since 2017 · 59 posts · 41 votes
7y

@Dan Morphy I am an investor in York, PA but have properties all around the area.  If you need any help or just have basic questions let me know.  


My recommendation would be try and find a run down duplex and do a BRRRR so you don't have to wait for the cashflow to build up the capital to purchase another. I do all my investing with a full time job so it is definitely possible. Hope this helps!

John

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  • Travis WylieBusiness Member
    Property Manager · 17112 · Member since 2016 · 271 posts · 151 votes
    7y

    Best of luck to you @Dan Morphy!  What part of PA are you looking to start investing in?

  • Rental Property Investor · York, PA · Member since 2017 · 59 posts · 41 votes
    7y

    @Dan Morphy I am an investor in York, PA but have properties all around the area.  If you need any help or just have basic questions let me know.  


    My recommendation would be try and find a run down duplex and do a BRRRR so you don't have to wait for the cashflow to build up the capital to purchase another. I do all my investing with a full time job so it is definitely possible. Hope this helps!

    John

  • Realtor · York, PA · Member since 2020 · 140 posts · 28 votes
    5y

    @John Cassel

    Hey John, I'm in the York area and I'm in the middle of getting pre approved for my first loan. I haven't found a property yet, just want to know what I can get approved for. Would you mind if I ask you a couple questions about using the BRRRR strategy in York? My original plan was to get a turnkey property to rent out right away.

  • Realtor · York, PA · Member since 2020 · 140 posts · 28 votes
    5y

    @Dan Morphy

    It's been about 2 years now since you posted this. Have you pulled the trigger on getting an investment property yet?

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