All Forum Posts by: Kathryn Click

Should I get preapproved/mortgage shop before I figure out my strategy? Since it will impact it if I can only get enough for a SFH vs a multi? I don't want to start the preapproval rate shop window until I'm ready to commit to at least an idea of what I want but also feel like I am assuming I'd be approved for whatever amounts I see at the moment (which is obviously not true). I don't want to hurt my credit by applying to mortgages if I don't end up buying a house rn for whatever reason.

Going back to the basics - what has your journey been as an investor in Philadelphia and the surrounding areas? How did you get your start and how have you expanded since then? What lessons did you learn along the way?

Hey @Jonathan Dempsey - thanks for the response! I feel like househacking is what I feel like is right for my situation - just hard to think through the pros and cons and the $s. The location and the apartment I would rent is different than the location/apt I would invest in if purely interested in profit and CF. Being an investor in Philly - do you have any thoughts on the multifamily prices in the city compared to the single? Regardless of if you have an answer - your bio is awesome! Appreciate your input. 

@Bruce Woodruff Thanks for the response! By real estate exam studying I moreso meant in terms of gaining industry knowledge while I figure out what I want to do and save cash as opposed to having less of a preset direction/course when learning the way I am currently.

 

@Jared Hottle Thanks for your response - I appreciate the overall sentiment you are saying! Do you mind elaborating on what is it you're looking for in that second listing? I have a W2 job and intend to keep it that way - by real estate exam studying I moreso meant in terms of gaining industry knowledge while I figure out what I want to do and save. 

@Eric Greenberg I do rent in the city now! Ideally in between the rivers above washington/below market - aka the seemingly prime market. It's tough because where/what I live in is very different then where/what I would invest in if I was interested in overall profit and CF. Makes me feel better to not be so rigid with the normal rules, which when applied to what's on the market seem farfetched to hit. I'd love to connect if you were interested!

Hi Jun! I am actually in the same boat as you in the Philly area. If you'd ever like to connect and discuss strategies/locations and what we've been hearing/learning about the Philly area - let me know!

I'm a rookie who has focused on learning for the past few months - I have 0 doors and am 25. I am based in Philadelphia and am trying to decide on my strategy - single family to live in, fix up when i do, and rent out after or a multi-family with househacking (preferred). Does anyone have any advice for investing and analyzing deals in a more expensive market? The 1/2% rule never seems to hit but I've been looking in Center City and think that the city overall is undervalue in rent/possibly home sales. Can i justify 600/700 for a duplex vs 200(1br/1ba)300 (2br/1ba) for a single family? Getting overwhelmed by the amount of information i feel like i need to learn to feel confident making a decision and only have enough for a FHA downpayment if multifamily so I have been saving. Should i be studying for a real estate liscense just to learn the business while i save? Can you tell im overwhelemed?