Real Estate Agent · Pottstown, PA · Member since 2015 · 10 posts · 5 votes
Hello BiggerPockets,
I'm looking to connect with others who live in my area and share the same goals in REI as I and learn from others experiences as well as share my own.
I purchased my own home with my fiancée , a SHF, in April 2020 with 0% down. I have fairly good credit at around 750 and around $20k in savings.
I'm currently studying to get my real estate license but will shortly be leaving my W-2 in the next month and would like to become an agent for find another W-2 to replace the income I'm losing.
I'm very fortunate to have a fiancée who shares the same goals and aspirations as I. I'm interested in buy-and-hold investing and would like to employ strategies that will possibly allow me to use less capital to start such as seller financing and subject to. I'd love to hear any advice and tips that you have to share.
Rental Property Investor · Pottstown, PA · Member since 2017 · 119 posts · 38 votes
5y
@Zachary Moon Hi Zachary, subject to and seller financing are very valid ways of acquiring real estate with little to no money out of pocket. Have you researched the BRRRR strategy? This would allow you to fund acquisition, repairs, and holding costs with zero out of pocket if you buy right, rehab right, and borrow right.
Kunkletown, PA · Member since 2020 · 18 posts · 11 votes
5y
Hi Zachary,
Welcome to BiggerPockets. I live in the Pocono area about an hour and a half north of your area. I'm looking to invest here and in the Lehigh Valley. Do you know much about your market yet? I'm looking to find partners and connections and if a deal is good would invest slightly further away. I participated in my first REI meetup group Monday (1/4/21) evening and would recommend, if you haven't yet, to join a couple meetup groups. I've made three connections on that first meeting. Best wishes for 2021.
Contractor · Pottstown, PA · Member since 2018 · 216 posts · 160 votes
5y
@Zachary Moon You sound like you're off to a solid start! My wife and I are house hacking a duplex in Pottstown, and I definitely think you're on the right track with seller financing/subject to. The BRRRR strategy is one we've been using effectively in Pottstown as well. Brandon Turner's book The Book on Investing in Real Estate with No and Low Money Down addresses exactly the situation you're asking about, and it has a lot of great ideas. You should also consider making relationships with private money lenders and hard money lenders, and find out what their terms are for borrowing. Partnerships could also be a good option for you.
Hi, @Zachary Moon@Clark Kirkpatrick I live near Pottstown PA, and have 3 SFH in Pottstown. I am looking to meet some like minded people in our area. And possible setup a Mastermind group. Please let me know if anyone is interested.
My Goal for 2021 is buy 7-10 Units. I am already closing on 5, but they are spillover from 2020, so I am not going to include them in this year's goal. (Intent is not to brag, but to inspire and meet like minded folks).