All Forum Posts by: Robert Kohnfelder

@Ki Lee I'm also in a very similar situation... I have some debt to income issues (thanks to student loans among others), but own/occupy a duplex as well. I'm looking to add another multi-unit but don't want to move into it myself, so I'm guessing I'll have to put 25% regardless. In terms of finding a place with good cash flow potential and factoring that into DTI ratio, I'm curious to see what others think here.

@Jeremy Taggart Thanks for the insight. Really good points you made... I do like the idea of possibly looking into a SFH that would serve as a slightly longer-term living arrangement with the end goal of renting it out in the next few years. Ideally I'd pursue another multi-unit but that 25% mark is daunting at this stage -- don't want to go house broke.

Also, @Nicole Duncan I agree that paying the entire mortgage without any rental income from the property will be very different, but I don't know if I'm ready to jump into another multi-unit as an owner/occupant. If I could save up that 25% on a reasonably priced multi-unit, I think it would sense to purchase a 100% investment property and start raking in rental from each unit, no? I understand it would require more money down, but if the 25% down payment were no longer an issue, I tend to believe that would be the best move.

Thanks for the input. I wouldn't say I "need" a SFH, although I would also be occupying it with my girlfriend, which is what I'm currently doing in half of the duplex we own. However, I'm just not sure how I feel about constantly moving into the new multi units that I'd be interested in. I'd rather do a SFH for the purpose of settling in long term (and getting more investments later), or just buy an investment property that I can rent/manage without having to move out of my current situation yet (and get that SFH later). Not sure if one makes more sense than the other.

Thanks Gary. I certainly enjoy living in the Mount Washington area of Pittsburgh, so I'm fine staying where I am to build equity and save money. I just like the idea of keeping things moving and getting another investment property sooner than later. Is 25% down a minimum if purchasing another multi-unit if I already own one (FHA loan)?

Well, that's partially what I'm curious about. Without having a concrete answer, I tend to think buying a SFH with less money down, and then using my current duplex as a full rental, would set me up better in terms of saving for a 3rd property (which would likely be my 2nd investment).

New here. Lots of helpful topics discussed, so I'm hoping to get a few opinions on my situation.

About 10 months ago I purchased a duplex in Pittsburgh, which I currently live in half, and rent out the other unit. Great stuff so far -- no regrets. Grew up here and love the area as a whole. However, I'm wondering what my next step/purchase should be...

Would it be smarter to find a single family home (my next move will be into a home, not another owner-occupied) and rent my current duplex out, and then buy more investments down the road? Or would it be better to save up enough to get another 100% investment property and find my SFH down the road? Is there a more common route to go here? I'm fine where I'm living now, so I'm not in a rush to move, but I don't want to sit around and miss out on a property (multi OR SFH) this summer if I'm financially ready.

Looking for opinions on what order would be the smartest.

Hey there,

Not sure if you can help, but even if you can direct me to somewhere that this would be best suited...

I'm not exactly a total newbie when it comes to real estate and investing, but I'm by no means an expert (I have to google a lot of terminology to get through some of the responses on here, haha). I've always been interested in the idea of investment properties to generate passive income, especially with a bunch of student loans (graduated in 2016) and a job that I currently enjoy, but doesn't pay a ton of money... Anyway, last summer I purchased a duplex in Pittsburgh (Mt. Washington to be exact) with an FHA loan, that my girlfriend and I currently occupy half of. We rent the downstairs out and, financially, I'm thrilled with the purchase to this day. We have a decent amount of maintenance and/or upgrades we'd like to do while we are still living there (add an off-street parking spot on the double lot, repair a retaining wall, etc.), but I've been thinking about the "next step" for a few months now -- and I can't decide what's best, or what options we have.

We are fine with our current living situation for at least another year or more, but I was recently thinking about purchasing another investment property once enough money was saved up for a down payment (I believe it needs to be 25% for another multi-unit). If we went that route, I would try to find something in the Pittsburgh area, since I have lived/worked here my whole life and have a good idea of the area as a whole, to purchase and make a rental property. I realize that we could put less money down if we were to wait for the 1-year mark on our loan and jump into another "house-hacking" situation, but I really don't want to move again until it's a true single family home. After speaking with a few people, it was recommended that I consider saving up for that SFH and then converting my currently occupied duplex into a 100% rental, which is what I planned to do at some point anyway. That way, I wouldn't have to put down 25%. However, I am not very eager to move into a home, nor do I have enough money saved up to buy something up to my standards.

I'm basically wondering what would be the best route to go from here: Save up and buy another investment that I can rent out (like the idea of another duplex) and then purchase our "home" later, OR aim for the home now and worry about adding more investments after settling in and renting out my current property? Are there advantages to each, and if so, which one is more common or recommended among investment pros? I don't like the idea of sitting around for a few more years (or even months) and not buying something in an area I want to work/live in for the long-haul, but if waiting is truly my best option then I'll have to come to terms with it.

Thanks in advance.

Hey all,

I've checked out a handful of BiggerPockets forums/topics over the past few months, but I just signed up today. I'll try to keep this under a million words. Also feel free to let me know if I'm in the wrong section.

I'm not exactly a total newbie when it comes to real estate and investing, but I'm by no means an expert (I have to google a lot of terminology to get through some of the responses on here, haha). I've always been interested in the idea of investment properties to generate passive income, especially with a bunch of student loans (graduated in 2016) and a job that I currently enjoy, but doesn't pay a ton of money... Anyway, last summer I purchased a duplex in Pittsburgh (Mt. Washington to be exact) with an FHA loan, that my girlfriend and I currently occupy half of. We rent the downstairs out and, financially, I'm thrilled with the purchase to this day. We have a decent amount of maintenance and/or upgrades we'd like to do while we are still living there (add an off-street parking spot on the double lot, repair a retaining wall, etc.), but I've been thinking about the "next step" for a few months now -- and I can't decide what's best, or what options we have.

We are fine with our current living situation for at least another year or more, but I was recently thinking about purchasing another investment property once enough money was saved up for a down payment (I believe it needs to be 25% for another multi-unit). If we went that route, I would try to find something in the Pittsburgh area, since I have lived/worked here my whole life and have a good idea of the area as a whole, to purchase and make a rental property. I realize that we could put less money down if we were to wait for the 1-year mark on our loan and jump into another "house-hacking" situation, but I really don't want to move again until it's a true single family home. After speaking with a few people, it was recommended that I consider saving up for that SFH and then converting my currently occupied duplex into a 100% rental, which is what I planned to do at some point anyway. That way, I wouldn't have to put down 25%. However, I am not very eager to move into a home, nor do I have enough money saved up to buy something up to my standards.

I'm basically wondering what would be the best route to go from here: Save up and buy another investment that I can rent out (like the idea of another duplex) and then purchase our "home" later, OR aim for the home now and worry about adding more investments after settling in and renting out my current property? Are there advantages to each, and if so, which one is more common or recommended among investment pros? I don't like the idea of sitting around for a few more years (or even months) and not buying something in an area I want to work/live in for the long-haul, but if waiting is truly my best option then I'll have to come to terms with it.

Sorry for the lengthy first post here, but I'm hoping I can get a few opinions here. Thanks in advance.