Finding deals with an FHA Loan in PA

Finding deals with an FHA Loan in PA

Norristown, PA · Member since 2015 · 40 posts · 7 votes

Hi,

I got preapproved for a loan and am currently looking for deals with my agent for triplexes and quads. The issue is inventory is flying off the shelves before I can even go see some of these props let alone put an offer in. We did put one offer in but it was rejected and thank God bc the numbers weren't great. I almost made a terrible decision based off of emotion and desperation (WONT happen again).

Does anyone have any strategies for finding deals in this current market in PA? I've called a few home owners who have props that I'm interested in(found on the tax assessment site and created spreadsheets by county for the land use codes Im interested in) but was wondering if anyone had any other ideas.

Am I just being over anxious and should just keep scouring the MLS until we find something?

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  • Newtown, PA · Member since 2018 · 172 posts · 81 votes
    8y

    Its going to be a lot more difficult to find a triplex or quadplex than a duplex.  I would keep an eye on Frankford, in the last month i've seen 3 good cash flowing triplexes come and go in that area.  

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