One Deal Done, But Still New
Hello BP friends,
I'm fairly new to both the professional and investor world. I graduated from college in spring 2016 and began working in medical device sales a few months later. Like many of you, I read a series of real estate books and fell into BP. I drive a lot, so I've listened to all the podcasts and decided that it was time to take action.
In November 2017 I closed on a SFR property in Steelton, PA. It was an inexpensive first deal that i entered with a partner who has similar RE goals. We used a private loan to purchase and rehab the property, which needed minor work. It currently rents at a monthly rate 2.5x the purchase price - providing plenty of cash flow for our reserves. I believe we are all in at about 70% the ARV.
I'm seeking to add to my personal investing via a house hack. I need to move towards Philadelphia in the coming months and currently seeking a 2-4 unit property that works for my FHA 203k loan. Side note, I have a great mortgage broker with experience in FHA loans and investing if anyone in the area needs help.
I'm going to ask a lot of questions of experienced investors so I am happy to answer questions that I have an answer to.
Looking forward to connecting with like-minded people!
Nick