All Forum Posts by: Justin Walker

@Daren Miller thank you, I will be sure to check him out

Hey BP, I am in the process of finding my first real estate deal in the Scranton area. The properties I am looking at range from $75k-160k and I would like to see what I can get pre-approved for. Does anyone know of a good mortgage broker in the Scranton area or surrounding cities?

Thanks

@Rob Falcigno house hacking is when you live in a multi family property to get a lower down payment because of the perks of being a residential/first time home buyer. During the process you rent out the other units or bedrooms. Eventually when you’re ready for another property, you find a multi family property and move into it again with the benefit of a low down payment. You can rinse and repeat with this strategy over and over again which is why it is so great.

@George Sprague unfortunately I don’t know if I can add much more value because the house is already in decent condition. The only potential would be slight cosmetic updating inside and outside. I like the idea and I would house-hack when the time comes.

@Patrick D. Calvey house hacking looks to be my best option at this moment and I most likely will. I like that it is an option to ease into being a landlord.

@Ola Dantis If I can secure the deal I think I will leave it a SFH. Renting to some roommates while living would be an ideal situation for me. The only issue seems to be the pool but like you said I will have to ask questions and figure out the best option for it. Thanks for the advice it's greatly appreciated.

@Rob Falcigno sounds good and thanks for reaching out. If I have any question I will send them your way

@Blaine Alger these are very good points and I appreciate your honesty and realistic perspective. Also I will definitely look into owner financing and see if the option is available. Thank you

@Michael Rice good point. I will have to consult an insurance broker to get the details.

@Antonio Cucciniello you’re right this deal could be a simple way for me to learn the ropes of being a landlord while still cash flowing. I think I felt too greedy and wanted the benefit of collecting two rent payments. Thank you for the advice it helps greatly.