All Forum Posts by: Matt I.

I know it sounds unorthodox, but I did it. I used a first time home buyer loan to purchase a rowhome in a gentrifying section of east Philadelphia. I have a friend from college taking my spare room, paying half of my mortgage. I'll be doing finish upgrades over time. MY dilemma lies in scalability. Since I'm still paying $500 a month plus utilities, it's a bit harder to save cash for my next investment. I guess you could say I purchased a liability for the time being. I only own 3ish% of the house so I feel I don't have a lot of leverage/equity. I've considered looking for a partner for my next deal, but my money is planned for more upgrades. I do however have skills in design, and building 3d modeling and rendering . I have a degree in architecture and work at a firm, although I am not licensed yet. This skill has to be worth something to an investor... How does one scale from an owner occupied single family? Thanks all🤘

Hey all, approaching the end of my first deal. I'm honing in on several houses between two markets in Northeast Philadelphia. 

Fishtown is a cool little town with rents in the high $1k to low $2k. Just about everything I'm seeing needs cosmetic work on the interior: finishes, kitchen, bathroom, etc.

Port Richmond is the next town over, away from center city. Rents go for the low to mid $1k and under. Houses are priced similarly, typically a bit cheaper, however the interior is practically new.

Thoughts? Advice?? I wouldn't mind spending the time on rehab, and seeing as how I will be using a low down payment to owner occupy for a year I should have some reserve funds to do upgrades. But the thought of a move in ready place that promises appreciation would save me a lot of time and effort. 

Definitely feeling the analysis paralysis of my first to-be deal! 

hey Julie. Sorry to reply on an old thread but i'm just curious to see if the past year has brought you any luck in asbury. I'm looking to house hack a multifamily in the asbury/long branch/ neptune area myself. I'm having a hard time finding a good deal that's not in a 'warzone'...

Thanks!

Nice meeting everyone last night! Feel free to connect with me. Hope to see all you next month! 

@Account Closed, i am curious as to where your investment has brought you 3 years later. i came across this thread on a search for advice on purchasing a duplex or triplex with an FHA loan. i'm also looking to live in one of the units for a relatively short period of time (2-4 years) before renting it out. fill me in on where this 3 year old thread has brought you!!

Dan, how often do you hold these meet ups? I really want to come today but I might be stuck at a job site late today.

Hey all. I was born and raised in Monmouth County New Jersey. I'm interested in investing in rental properties but I wonder if my location is really the right place. Central NJ is a unique location because it's a commuter's paradise. We are in close proximity to new York an hour north, Philadelphia an hour south, and the beach a half hour east. The town I live in has increased in scale and density over the past few years. Single family homes typically go for $300k and up, on the lower side. I often ask myself if this market has reached a plateau and if it's even worth buying a property for passice rental income. Does anyone have experience in the central NJ market? Let me know if you want to meet up for coffee or a beer 🍻 Thanks in advance

Hey all, first post here.

I recently acquired a degree in architecture from Philadelphia University. At 23, I am currently working towards my license to be an architect, and I am curious to see how my skills and education can apply to real estate investing. These skills include graphic visualization and rendering, energy modeling, sustainable site management and building design, to name a few.

(not to mention how a building comes together)

Ideally I have this vision that I feel is unique. I would love to be my own client, in the sense that I may purchase properties (or vacant land), design, build and then sell or rent out. I could also take crappy houses with good bones and just remodel the whole thing. Throughout school we learned passive solar design strategies that reduce operational costs such as heating, cooling, and lighting. (Perhaps if I own properties and cover utilities costs for the tenants, I can have a higher rent? Quick little concepts like this pop into my head from time to time.)

 I ultimately believe I have the technical design capabilities to create dwellings that are efficient, but I lack the knowledge of business concepts and strategies to execute my vision.

I wanted to know if there are any architects out there who have done this or something similar to this. I love my job where I work under the supervision of architects, but I feel that there is a certain creative freedom that this venture would grant me. How would I even start out? (I graduated a few weeks ago, so its safe to assume funds are low)

Thanks all!

Matt