All Forum Posts by: Ryan Harsche

I'm in Philadelphia and I would say that 3 bedroom and minimum of 1.5 but preferably 2+ bath.

@Joe Nagle i'm not too familiar with Bucks County to be honest, but I'm looking for anything that makes sense.  Philadelphia City seems to just be to over priced for investments at the moment.  I'm into the Buy, Fix, Rent and Refinance approach. 

@Philip Willis you're messing with fire.  I would never suggest anyone to sign a document stating they intend to move into the property within 60 days and live there for a year if they do not fully intend to do so.  

Does anyone know some good wholesalers in the philly area? The MLS is getting to be pretty much useless these days as everything is overpriced.

@Kirk Perecich I am a mortgage lender. This is a terrible idea as it qualifies as mortgage fraud. Which is technically punishable up to 30 years. You will also sign a mortgage and on the mortgage, there will be a clause that requires you to move into the property within 60 days and live there for up to 12 months (assuming no unexpected circumstances: e.g. your employer moves your position) all of this said, using a FHA 203k or a Conventional Homestyle Renovation loan to purchase a home can be very beneficial. But you do want to ensure you follow the law and actually move into the property.

@Jessica Kirby I am a residential lender for investors and primary buyers. The best HELOC I've been able to find is with Quorum Federal Credit Union (I believe out of NY). They will go to 70% Loan to Value. Message me if you want me to send you details.

@Lana Lee I got lucky and refinanced when the market was really good in rates. My rate is 2.75%. And yes, with FHA I have to pay mortgage insurance for the life of the loan. I do manage this one myself. Tenants are great. Most I get from hotpads, but I do use a realtor to rent out the units now.

@Lana Lee zip is 19130, payment is about 1,700$ and rents are $2,450. So generally about 700$ a month after water bill is paid.

If you really like Nashville, I have a friend buying SFHs down there.  He fixes them up and then Air BnB's them out.  Nashville is becoming somewhat of a bachelor/bachelorette and party city.  Maybe that is something to look into.  He seems to do really well with his investments. 

Luke, you could buy a quadplex without moving into the property.  However, you would most likely need 20-25% down to obtain financing.