All Forum Posts by: Greg Bohn

Was wondering if anyone had experience investing in Erie, PA? I'm interested in starting my REI journey there because I am familiar with the area and have a lot of family there. However I am not sure if that is a strong enough reason to invest there. A lot of the research I've done shows that it has a declining population and not much job growth happening, with many large employers laying off a lot of people. Does data and information like this affect where you guys invest? Or is it possible to be successful anywhere as long as you have a strong knowledge of the area and its market? Any info would be helpful!!

Was wondering if anyone had experience House Hacking in the Bronx? Or even any large city where rent and property prices are high. I was looking into the idea of using a low money down loan to purchase an apartment somewhere in the Bronx, renting out the other rooms to pay off the mortgage and live for free or very little money. Has anyone had success doing this? From researching apartment and rent prices in the Bronx it looks like I would be able to do it, however I'm not sure if I am missing any important information. Any info for a newbie like me would be appreciated!

@Jake Hartnett Thanks Jake, appreciate the response. I will reach out to a lender to get more information from them!

Anybody have experience with FHA loans? I was thinking of potentially using an FHA loan as an opportunity to househack a multi-unit property, and had the following questions on the subject:

1. How can you see how much of a loan you are qualified for? Is the amount dependent on the type of property you are interested in buying (single family vs. multi-family) and the area you are looking to purchase in?

2. How long does it typically take to get approved and receive an FHA loan?

3. What kind of interest rates do you have to pay on the loan?

4. What is the MIP payment?

Any information on the subject would be a huge help! Thank!

Was wondering if anyone knows of any good resources (books, websites, podcasts, etc.) that go more in depth on the different types of financing and their requirements. Just listened to the BP podcast with Charles Roberts, where he mentioned how important it is that you gain an understanding on the subject of financing, as it is just as, if not more, important than understanding how to find deals. Let me know!!!

What's up BP community! My name is Greg Bohn and I currently live in the Bronx, NYC. I just recently graduated from college with a degree in Mechanical Engineering, and am currently working in construction. I got interested in getting involved in Real Estate a few months ago, when I started doing some research on how powerful of a tool it can be to eventually achieve financial freedom. I started listening to the BP podcast a few months ago as well, and it quickly became my favorite Real Estate Related podcast! I'm interested in buy and hold real estate, specifically using the BRRRR method. Some markets I believe I will try to start my journey in would be Erie, PA, Cleveland, OH, and Cincinnati, OH, due to my family connections there are familiarity with the area.