All Forum Posts by: Michael Veloso

I worked in New York City for year and met many people that commuted everyday to the city to save on housing.  I believe as long as you intend to live there you should be fine about getting conventional financing.  Good Luck.

I live in Butler County and would also like a recommendation for a good real estate tax account.

@Patrick McNerney I believe it could work but it is unlikely for a major bank to approve such a loan especially since you won't have any leases to show. I do think it risky on your end since atleast 30 percent of time the rooms will be vacant. I wish you all the best and hopefully someone in that area can give you some specific insight.

Good Morning Everyone, I am looking to get into real estate investing within the next 6 months and I had a specific question around investing in Western PA. I am up to episode 43 in the podcast and it has been made very clear that it may be a wise decision to get my Real Estate License which I am open to. My question is whether I need to have it parked in PA. I do not plan on selling any properties as my primary goal is to "Buy and Hold" in the first few years to build reserves. My main goal is to have MLS access so I can do deeper dives into properties and avoid waiting for call backs from realtors. I appreciate any tips and advice. I am super excited about having some financial independence and I am eternally grateful for finding bigger pockets. Thank you everyone in advance.

@Luis Prieto I disagree with evicting them since you plan on selling it within the next 12 months. Its unlikely you will have someone looking to rent for less than a year so I believe asking for 200+ is the best options to recoup the funds quickly. Once it goes on the market they will be less likely to pay you extra since they will have to move. Good luck either way.

@Justin Reyes Not to beat a dead horse but I also agree. I have worked in financial services since 06 and in almost every case, they used the money and were never able to replace it and lost half of it to Uncle Sam. If your ultimately going to do it anyways, see if they have a loan option that normally charges no interest and negates the tax implications. I wouldn't recommend either, diligently save for the time being is your best bet.