All Forum Posts by: Richard Atella

Hey, Jonathan, My goal is to invest in multi-family units full time. In the future, I would like to move out of Philadelphia into one of its suburbs to raise a family. I view the house I am currently living in as a start. If I do get to the point where I have multi-family properties and a family home, it would make the most sense for me to sell this property so I can narrow my focus into strictly managing and acquiring bigger deals.    However, I am trying to figure out what I can do now to start the process, and how I can achieve my goals within a reasonable time frame. Like you said, would it be the best choice just to lower the payments on my current home so that renting it out would be more lucrative? Or, should I put more effort into getting a cash flowing deal now? Right now, it seems to me that cashing out to get a deal makes the most sense…but I’m apprehensive because I don’t want to have a misstep now that will make it difficult to get a home in the suburbs later on.

I am currently house hacking. I live with two friends that pay for most of my house payments. I have a decent amount of equity in the house but I am paying PMI. Should I refinance to lower my payments and eliminate the PMI so I can have some positive cash flow ? Or should I cash out and put the money towards buying a second property?

If I have a small amount of money to invest in a deal that I am syndicating with other parties, can I take a hard money loan to up my skin in the deal and pay the loan right back with my acquisition fee that I take for operating the deal? Is this possible / worth it at all?