All Forum Posts by: John Knisely

Welcome Daniel! Inventory is a challenge right now for these househack purchases. If you need any help feel free to DM me.

You can look at days on market for residential leases in MLS. The private landlord lease stats aren't well reported. Honestly though vacancy management in small properties is largely in the hands of the owner. I know guys that have outgoing tenants hand keys to the next tenant (0 vacancy) so really your vacancy factor would be more for turnovers with maintenance and rehab, every few years perhaps. Plenty of demand for rentals in Prospect Park with Boeing and the airport nearby, as well as regional rail access into Philly

Hey Mike, welcome to Biggerpockets! Its not a bad strategy but its definitely a slow one. One of the benefits of real estate investing is leverage (smart/conservative). In the time if would take you to pay off each mortgage you could buy 2-3+ more properties by applying that savings to a 25% down payment on the next property. To each his own on what is considered comfortable leverage, but the nice thing about rental properties is having your tenants pay down the mortgage for you, and put cash in your pocket each month. Message me if you want to chat. I am local.

I have a lender that's well versed in the grant programs, he's with Mid Penn Bank. Message me for an intro if you'd like.

@Brandon Ribeiro if funding for the new purchase is a problem keep in mind there are plenty of lower down payment loan programs (often between 3 and 5%, conventional loan products) for owner occupants with solid credit. A refinance might be worth looking at but your 3.75% rate is pretty solid to begin with. Message me if you want to talk to my mortgage broker. He's based in Blue Bell, not far from your area. I don't like to post other people's contact info on the forum directly as they can get bombarded.

@Mary Jay I would discuss with the agent that you are concerned with this clause. Start with a shorter listing duration. Trust and communication is critical when listing and selling a property.

Agreed with Josh and Bob. If they aren't confident that they can sell your house in <1 year then there is a conversation to be had on price and marketing plan as well. Of course depends on property type and average marketing time/DOM for that asset class and location (land usually takes longer to sell for example).

Definitely don't enter a contract until being clear on that.

Hi Camden, I have a referral partner in Lancaster county since it is one county beyond my service area. Sharp guy and invests himself as well. Message me and I can make a warm introduction for you.

Hey Rahson, VA Loan or not it sounds like you are looking for someone who understands househacking. Feel free to message me. I've worked with quite a few buyers on owner occupied multifamily and also started out investing the same way. Thanks for your service as well.

What do you mean by spreads? The multifamily space is very competitive with househacking strategy folks who can "afford" to bid more than a non-occupying investor due to better financing (rates, lower down payment etc) and also by self managing. This has driven prices and competition up. You should bid what your analysis suggests is a great price for the property, keeping in mind that many of the multifamily properties in the Greater Philly area are converted older homes rather than purpose built multis, so often the utilities are co-mingled among units (water, heat, electric, gas etc), meaning you either would want to convert/separate them so tenants can pay their own, or ratio bill (which adds mores item to track and manage)