All Forum Posts by: Bill E.

I am using an FHA loan to house hack a duplex. My plan was to live here for a year to year and a half, then buy another duplex to house hack using a conventional loan. My question is, will not having a ton of equity in the first property hold me back from getting another mortgage for my second?

 Are the utilities separate and what do you get for rent? I am looking into purchasing in that area

Good point Dan, I should have made it more clear. Yes I will be living there, but I am analyzing it as though I am renting both units out. 

I was thinking 700 for the one bedroom it is very nice, hard wood and unique. And for the two bedroom 700 seemed fair also seeing as how water is included. The two bed has a sun room also. 

@Jeremy Taggart in the Monroeville area? I've been looking for months, they don't come up often. Unless you're speaking of a near by neighborhood, if so I'd like to hear which ones you recommend.

Anyone from Pittsburgh can you chime in? It's located in Monroeville

I need some help trying to figure out how to look at this property. I need somewhere to live and I want to house hack. I've been looking at duplexes and found one I like. Purchase price 107000, taxes 2800, insurance 90? A month, PMI 70. I will be using an FHA 3.5 down at 3.75 interest rate. Full seller assist. Gas and electric separate, water is shared. In my expenses I estimated the water bill at 180 per month total. Downstairs is a 2 bed one bath, upstairs a 1 bed one bath. Also has a garage. There is no rental history so I estimated a monthly rent of 1400 total, 5%vacancy, 5%repairs and 10% capex. With all these numbers, it barely cash flows, but its hard to say whether rent could go up when there's nothing to compare it to. What are your thoughts?

Hey Ryan welcome to bp, I to am just starting out. I am looking to house hack a duplex. Everyone says Pittsburgh is a stable market, and I hope they're right. What areas do you plan to invest in? 

I'm finding it hard to get a duplex that cash flows when using an FHA loan. Any advice on what I should be looking for?

Hello I am looking to buy my first property (duplex) to owner occupy because I need somewhere to live. How will these low interest rates effect me in the future when I go to pull equity out to use on another property?