Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

6
Posts
1
Votes
Leo Day
1
Votes |
6
Posts

Philadelphia (Manayunk) House Hack... I Need Help

Leo Day
Posted

Hello Everyone, 

This is my first time ever posting on BP. I am a frequent podcast listener and read all of it's material. I am a single 24 years old male ( currently living at home with family to save money) looking to purchase my first house hack and get into real estate investing. I have about 50K to my name and no debt, ready to make that first leap. I also have friends of mine looking to move out as well that would be potential roommates for this house hack. That being said, I can only read and listen so much until I actually make a move which is where I am struggling. I am already pre-approved as well as working with an agent to find this first home. Here are some of my main questions I hope you can assist me with.

1. Is it better to purchase a home that needs no repairs at all or needs repairs that I can fix? Note** - I am not handy at all but I do know a few contractors through word of mouth. 

2. Would you recommend going all in financially If I believe this will cash flow positively? 

3. Single Family vs Multi Family? 

4. Should I look to invest a 3.5 low down payment and pay the PMI insurance or invest 20% down (Majority of my capital)?

If you could assist me with some of these questions that would be great. I feel like I am very close here, just starting to get the pre-purchase jitters being a first time buyer investor and want to make sure everything goes smooth-ish. 

Thanks

Loading replies...