All Forum Posts by: Marlia Stone

@Kristen C. Hi Kristen, do you know the names of the chats?

@Wale Lawal Thanks Wale! How do I target realtors that will help with this?

@Davartay Miller Thanks Davartay! I’ve heard many people say to go with a property manager to avoid the head aches as well, but I appreciate your insight.

@Karl B. Hi Karl, thank you for this detailed response! I agree with you on the learning aspect as well. It can be a great way to understand the back end once I obtain more in the future.

I haven’t thought about Facebook but I’m going to deactivate my account to try to advertise on there since I’ve heard some good things about it. All of the others I will be sure to look into as a platform as well.

@Abel Curiel Thank you Abel for your insight!

How do I target a realtor that will help me with this? I am not familiar with many in my network that has done this.

Hello BPs,

I thought I should update everyone on my journey. I finally purchased my first investment property in Philadelphia. The costs wasn’t too bad during the process and it went pretty good for my second go around.The property needed minor changes such as, a paint job, new bathroom tiles, deep cleaning, etc. overall it was turnkey ready.

I am currently at the point to being almost finished the minor adjustments, and I am in the process of searching for tenants. Do you have any advice on where to look for tenants, or how to go about it if I were to manage it myself? what to ask tenants prior to acceptance ? What demographic is the most risk? Or Should I work with a property management group?

@Nathan Milholin Hi Nathan, thank you for the insight. I’ve decided to not go with the property just because the numbers didn’t match and I wasn’t satisfied with it after taking some time out to re-evaluate. Thank you this information, it was very useful.

@Mason Hickman Hi Mason, Thanks for reaching out! The $1,175 does include taxes and insurance. And yes I do think that I am underestimating. How much should I include for the CapEX and maintenance costs? Looking at the numbers it seems that I will be splitting even instead of making a profit.

Hello BPs! I am trying to do the house hacking investment in the Philadelphia area with a duplex. I need a little help breaking down the number and my profit of the property I found.

Purchase Price $200,000

Monthly Rent from Tenants: $1,490

Mortgage: $1,175

Profit Monthly: $315

Down Payment:$7,000 (3.5%, using conventional)

In my offer we will be asking for sellers assist. Does the numbers seem correct for a house hack or is it priced too high? I am open to all feedback.

@Salvatore Lentini Hi Salvatore, thanks for taking the time out to answer questions. I am currently trying to start my first investment property but I've been going back and forth on the realestate direction that I want to go such as wholesaling, house hacking, BRRR method etc. Constantly doing research daily for the past 2 years. So I've finally made the decision to go with house hacking because Philadelphia has many grants available at the moment. I think my biggest fear is just starting. How did you know when you were officially ready? How was your credit score? What route did you take first? What are some things that you are doing now, that you wish you would've known when you first started investing?