All Forum Posts by: Edmond J Daugherty

Thanks for all of your posts so far and the quick responses! I am going to look into what we could get for the house and hopefully sell it to try to reduce our expenses. Also it would position us to be able to put money down on a few cash flowing real estate deals, IF we can get some of the money out of the house that we put in it. Worst case it would make our debt to income ratio less...in theory.

I agree none of us know exactly what's going to happen. It seems like we're on the edge of a cliff or going off but haven't noticed the effects yet due to the Fed's intervention maybe...I just wonder if they think they can maintain that type of approach or if they plan to stop to let the markets adjust. Obviously no one knows but it doesn't hurt to try to position yourself to be ready for a better situation ahead 😁

Hi all, we bought our home Oct. 2017 and overpaid in NJ (Gotta love taxes baby). It's a mother/daughter, did some work to it and rented out the upstairs (we live downstairs. owner occupied). We have consistently added money into the home and have made big improvements recently (Redid both kitchens, tenant turnover and separated hot water with a new heat pump water heater for downstairs) Anywayssss, sorry for too long of a post already....please see purpose of asking below.

I would like some insight from those who have more knowledge than me:

-Since NJ is ridiculously expensive considering selling our multifamily and starting over in PA (especially since in my view we overpaid)

-I'm curious what most think related to how big housing market may collapse due to COVID?

-Our family is growing so considering getting a single family in PA (farm, taxes much cheaper, mortgage much lower) and using cash (if we make a profit) to buy turnkey multi families out of state.

-Also wondering if the rental market may get saturated in the future too?

Would love any insight anyone has.

Thanks,
Ed