philadelphia, PA · Member since 2015 · 13 posts · 5 votes
Hello,
My name is Dan, and I would like to soon buy my first property. I would like to owner occupy, to soon rent out. I have little history in real estate besides a few college courses taken a few years back, so I am very eager to learn as much as I can to help in my decision processes. Any tips would be greatly appreciated!!
Investor · Philadelphia, PA · Member since 2014 · 205 posts · 52 votes
10y
Welcome @Dan
You have come to the right place! Great first step to learning and investing.
Check out BP's Ultimate Beginner's Guide, it helps to form a general foundation in the industry. Additionally, as @Mark Nolan mentioned, listen to the BP Podcast and you will find yourself discussing REI in a much more professional manner very quickly. Also if you are a bookworm, check out the list of BP's 21 Best Real Estate Books, and start checking them off. I try and read at least 1 business book and 1 Real Estate book a month.
Philadelphia also has some very useful online tools to access public records.
I love the house hacking strategy, and think it can be easily applied in the city with a good lender. The key is making sure your numbers are solid. I live, work, and invest in the city, and I look at the new multis that come on the market daily, and can tell you many of these properties are not good investments if you desire a strong cash-flow investment. Reach out any time...
HVAC mechanic · Philadelphia, PA · Member since 2015 · 241 posts · 57 votes
10y
Welcome Dan. Read "The Ultimate Beginners Guide to Real Estate Investing. You can read it for free on Bigger pockets and learn as much as you would with one of those $300 courses.
Real Estate Broker · Windsor, CT · Member since 2015 · 1k+ posts · 268 votes
10y
@Dan Barth welcome to Bp! Its sounds like you are interested in House hacking and buy and hold investments. I would suggest setting up Keywords such as House Hacking buy and holds as well as the area that you are thinking about doing this in to help you learn as much as you can
philadelphia, PA · Member since 2015 · 13 posts · 5 votes
10y
Thanks so much everyone! Very great info! I will be sure to check house house hacking and will read the ultimate beginners guide on the site. This site is a wealth of information.
Have you considered FHA financing for a 2-4 Unit. Rent the other units while you monetize your overhead. We have a in-house Banker that can assist with your questions of investing multi unit owner occupied.