All Forum Posts by: Jon Kelly

@Ryan Guffey If you're interested in real estate, then make it a priority. Set aside time to learn, network and look for deals. I would look for deals and financing at the same time. You can look on Zillow every day for 30 minutes and call 3 banks or 3 friends/family members. 

Househacking is a good way to get started. You need somewhere to live. Why not buy a duplex, live in one unit and rent out the other unit? 

@Kyle Robertson Whatever worst case scenario you can imagine, you will always have the option to go back to a "9-5" job (either previous employer, in the same field or in real estate). It seems like everyone who has quit their day job wishes they would've done in much sooner. Make sure you have 6+ months of reserves built up and take the leap! 

Congratulations so far and good luck! 

@Weng L. What am I missing here? Why is everyone suggesting this creates negative cash flow? I assume the $1,900 in expenses includes ALL expenses, mortgage and interest. If so, it generates $800/mo or $9,600/yr. Cash-on-cash return is 9.6%. 

Bottom line is you need to have a criteria and run the analysis. If the analysis meets your criteria, then do the deal. Use the BP calculator and repost your analysis 

@Ryan Simpson Do both! If any opportunity comes along, then jump in with your $20k. Otherwise, save money and improve your credit score

@Stephen Chu Call a local lender and ask! 

Helpful, thanks @Joseph Firmin!

Hi BP!

Does anybody have a broker recommendation(s) for large (24+ units) multi-family properties in the Lehigh Valley, PA (Bethlehem, Allentown, Northampton, Emmaus, etc.)? 

I currently own 17 properties and 36 units, and I am interesting in scaling up to larger multi-family properties. 

Thanks, 

Jon 

@Jc M. Sounds like you're trying to convince yourself to stay local, especially with the kids/family. If you are able to BRRRR the property, then you should be able to pull the funds out in ~6 months and do it all over again.

Your analysis should give you the answer on where to invest. Remember to add costs of driving/flights and your time for OOS investments.

@Zach Nathan, reach out to @Matt M.

@Jamie K. Close on a deal