New Investor from the Lancaster, PA area

New Investor from the Lancaster, PA area

Real Estate Investor · Landisville, PA · Member since 2014 · 9 posts · 3 votes

I'm a new investor from Lancaster, PA. I haven't closed my first deal yet, but I have some things in the works. I'm currently looking at single and multi-family units in Lancaster as well as surrounding areas. I've been through a few properties that seemed like they would be great "deals" but have ended up being in disrepair and total busts. At this point, my biggest issue is finding funding. I have a regular residential mortgage broker, but taking out a mortgage on an investment property would require at least 20% down. Still trying to find a good business lender in the area.

My eventual goal is to make this a full-time thing. I'm currently an IT project manager and I'm looking to become an entrepreneur and get out of this whole rat-race! I have the drive and motivation, just need to get that first deal going, and I'm sure things will start moving.

I'm also interested in talking to anyone else in my area that might have similar experiences and goals. So, if there's anyone out there from Central PA I'd love to hear about your experiences and maybe even buy you a cup of coffee.

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  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    12y

    Welcome aboard. Brian. ! grew up in York, but never invested in PA. I've also come from IT. I'm still in it, but REI takes most of my time now. I've learned so much from BP. Really engage, and you'll move forward quickly. We're glad you've joined us!

  • Real Estate Agent · Realtor - Dallas, TX · Member since 2013 · 342 posts · 55 votes
    12y

    Welcome @Brian Grignon ...you are in good hands on BP...!!!

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    12y

    @Brian Grignon

    Welcome to the site.

  • Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    12y

    Welcome to BiggerPockets @Brian Grignon, thanks for introducing yourself!

    I definitely know where you're coming from when you say you want to get out of the rat race :) It's a prime motivator here on my end!

    If you haven't already, be sure to check out the BiggerPockets Podcasts, there are tons of episodes. You'll be able to learn from other peoples' stories. It might spark an idea on how to overcome the challenges you're having.

  • House Flipper · East Stroudsburg, PA · Member since 2013 · 1k+ posts · 205 votes
    12y

    Welcome to the BP family. You have already received some good advice listen to the podcasts and go to the learn section and read some of the materials of interest. You might key word hard money lenders to gain some exposue to raising money in that arena. Again, welcome aboard.

  • Contractor · Easton, PA · Member since 2013 · 152 posts · 58 votes
    12y

    quick tip-----first investment and you are having issues with down money. I would buy an inexpensive detached single. Remember sometimes it is best to get something that is beat up. There is never a question if the kitchen or bath should be gutted. I am doing a flip where the home was built in 1988 and I left the original oak cabinets in and added granite and tile backsplash. I debate with myself that I should have taken the cabinets out. But that wreck and junk and dirty and dank place----guess what. That is the smell of money! The junkier, dirtier,dankier the place is the more is smells of the green stuff. If your numbers are good on the house you should easily be able to get funds for start up.

  • Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
    12y

    @Brian Grignon

    There is a Lancaster real estate group meets 3rd Thursday 7PM at Lancaster Bible College

  • Real Estate Investor · Brooklyn, NY · Member since 2011 · 1 post · 0 votes
    12y

    Hello Everyone!

    I am a new investor in NYC looking to expand and connect with other reading investors,contractors,brokers and agents. My goal is to fix and flip 2-3 properties a month 

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