All Forum Posts by: Harrison Lopes

This question sprung in my mind while analyzing two properties. One is an SFR which already has a tenant and requires very little in terms of renovation. I have enough for a down payment and closing so money-wise, I'm good there. Sign some paper and I'm looking (very conservatively, at $150/month cash flow). The other option is a vacant duplex that needs a little bit of work, perhaps $30,000 in renovation. I have enough for a down payment and closing, but I may be short (or too close for comfort) of the $30,000 needed to renovate and get tenants in. However, if I did pull this off we're looking at possibly $300/month cash flow and built-in equity as the duplex is priced very low; in fact, even lower than the SFR!

Therefore, I'm looking for creative ways to fund a renovation of the duplex.

Have any federal employee investors ever taken out a TSP loan for the purpose of building their portfolio? I know the default federal employee's answer is "heck no! compound interest!". But what if I rather take the money out and bet on myself? I believe the money would establish a better ROI in my RE portfolio rather than in a passively managed retirement account. Further, I rather have the money actively working for me rather than sitting in an account waiting for federal retirement (I'm 30 by the way, so not for a while).

Any thoughts either way would be interesting to hear.

Please share any tips on how you found an experienced and highly motivated CPA. What are the qualities you look for in a CPA to determine if they are the right fit for your rental portfolio and goals? Would it be advisable for your CPA to operate in the same state/city as your properties? 

I've used TurboTax in the past but I think it's time to get serious about ensuring my taxes are in order.

Hi Colin! How did that first property turn out? I'm a newish investor in the area (but live out of state) so I'm always curious as to how fellow new investors are faring in Philly. 

Interested in everyone's pros and cons for bundling home insurance. I own two duplexes for rent in Philly and my residence in Miami; yet all three policies are under difference insurance providers. What are some of the pros and cons of moving all three policies under one provider?

Thanks Nathan! I'm still learning the ins and outs of the BP site (so much content!) but I'll be sure to do that. Wishing you continued success.

Good Morning Folks,

Excited to be joining the BP community. I own two duplexes in Philadelphia, PA (hoping to acquire a third or an SFR this month) and am excited about connecting with like-minded investors in Philadelphia. I live in Miami, FL so networking will mostly be remotely, but I'd love to build a solid network of Philly investors to share best practices, forward opportunities to one-another, and provide recommendations for great lenders, contractors, CPAs, etc. to add to our respective teams.

Feel free to drop a welcome, I look forward to hearing from you :)