All Forum Posts by: Matt Burns

Joseph Rice -- I am not looking to invest full time. I enjoy my job and I would just like to make some passive income. -- rather than wasting my money on rent I think it would be better to buy a house now. I don't plan on leaving Philly in the next 3-4 years. I plan to hold onto it and rent it out, then when I'm ready to move outside the city I can buy my second house. -- would it be smart to purchase a house if I only have 5-10% for a down payment? Would I be qualified to receive a mortgage from a bank if my gross income is only $25-30k but I have no big debt?

-- Contemplating becoming a first time home buyer in summer 2017. I am 22 and have around $10,000 saved. Looking for 2 bed, 1 bath or 3 bed, 1 or 2 bath. -- my plan is to live in the house for the first few years and fix it up. The other rooms will be rented out to some friends of mine. After that I would like to keep the property and rent it out. Is this a good plan? -- one of my future roommates is all for me buying a house and said he can pay 1 year rent up front if I need some more cash for a down payment or closing costs. -- looking for some places that could be gentrified in the next 5-7 years (west/olde Kensington, point breeze??). Max price I'm looking at is $200,000. -- I have a few credit cards, a good score, and no debt. Graduated college and have no student loans. Also own a car that is fully paid off. -- Any advice/pointers on what I can do?

-- Contemplating becoming a first time home buyer in summer 2017. I am 22 and have around $10,000 saved. Looking for 2 bed, 1 bath or 3 bed, 1 or 2 bath. -- my plan is to live in the house for the first few years and fix it up. The other rooms will be rented out to some friends of mine. After that I would like to keep the property and rent it out. Is this a good plan? -- one of my future roommates is all for me buying a house and said he can pay 1 year rent up front if I need some more cash for a down payment or closing costs. -- looking for some places that could be gentrified in the next 5-7 years (west/olde Kensington, point breeze??). Max price I'm looking at is $200,000. -- I have a few credit cards, a good score, and no debt. Graduated college and have no student loans. Also own a car that is fully paid off. -- Any advice/pointers on what I can do?