Hi Bigger Pockets!
I'm usually a lurker on forums but I'd like that to change that. I'd like to break the ice by introducing myself and documenting the start of my real estate investing career.
The past couple of months I've been interested in real estate more than ever, reading books, watching videos, and even taking action in purchasing my first property. I'm in the process of obtaining an approval letter from several lenders such as Loan Depot, Quicken Loans, and a local bank to see where I can receive the best loan program.
I'm 21 and in my junior year of studying Information Technology so I'm looking to house hack a 3-4 bedroom single family house just outside of Reading, PA, preferably close to a university so I can rent to students while I am still attending school. While still living with my parents, I've managed to save ~$25k to use toward the investment whether for a down payment or rehab.
I'm looking at places on the MLS that are listed between 115k-130k in a B class neighborhood with simple cosmetic fixes that will get my feet wet in simple rehab. Most of the properties in the area are older than 1960s within that price range.
I've very excited to be a property owner and landlord and I have to give a huge thanks to all the people in the community that have given advice on this forum to help educate individuals like me to help achieve our goals and I look forward to adding value when I gain credible experience.
Reading PA is a great place to start. We just locked in a Triplex for 57,200.00 in a decent area and rents are upwards of 725.00 per unit. Arv is anywhere between 127K and 135K... surprisingly, this property was on the MLS. Good luck on your journey and if your looking for deals I'd be more than willing to help :)
@Langston Allen hi good deal it's a beautiful thing . Reading PA is perfect for a house hack u managed to grab a 4 unit outside the city in a great desirable area. Your going to always have tenants lining up to rent from you . If you need anything just reach out I love real estate it changing my whole life
@Langston Allen Hi, this area around lancaster are really good, i have actully done my first property in lancaster city, wish you all the best with lending & buying,
Heck of a good start keep up the great work.
Keep it up! Also a newbie here, but my market is more like 200k-300k for the same kind of house. So envious. I know it's possible in any market, just have to find the right deal.
You're way ahead of me in the process, good luck!
Movin on up ....
@Langston Allen Congrats on getting out of the lurker status. Lol
It sounds like your off to a great start so congratulations on taking action! We did a live in flip, brr, rehabbed, have owner finance deals and I am also a Realtor. If you have any questions don't hesitate to ask. Best of luck!
I wish I had your foresight when I was your age. Man, I'm talking like I'm old! Way to save up that amount of money as a college student. Sounds like you're off to a great start with a good plan of action. Good luck!
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