All Forum Posts by: Travis Wylie

Hello @Benjamin Galetti!  I use a realtor named Josh Clelan (ReMax agent) in the Harrisburg market.  Harrisburg is a good cash flowing market, but it is very block by block in the city limits.  This is where you're going to have to establish a trustworthy boots on the ground type of teammate.  Also, consider surrounding areas to Harrisburg such as Cumberland county (New Cumberland, Lemoyne, Enola, Wormleysburg, Camp Hill, Mechanicsburg).

Let me know if I can be of any help!

Sounds like you are well on your way to building your team.  Congratulations on that.  Don't be afraid to check out local real estate meetups to continue to build your network and for the free education.  You can download the 'meetup' app and search real estate to find the local clubs in your area.  Best of luck to you!

S&T Bank is great to work with for investment properties.  Very friendly terms for LLCs for anything 4 units or under (30 yr amortization, 20% down) as part of their conventional portfolio loan product

When you factor in management fees and repairs + cap ex you will have negative cash flow and the appreciation play sounds risky to me.  Sounds like you may be better off selling it now, while the market is hot and try to bounce back from what is only small losses.

Best of luck to you!

I would second @Tom S. and consider house hacking a small multi at your age.  Everything else that people told you were true as well.  Get pre qualified so that you know what you are approved and if not approved, why?  Also, agents will take you more seriously.  You should always be networking and if you haven't already, start going to some local real estate meetups for the free education and networking.  Good luck!

Before you dive deep in the seller financing topics, are you sure this is a property you want?  I'm not sure what your experience is, but if it's minimal I'm not sure you would want this as your first property.  I'm familiar with the Harrisburg market and I have an idea as to one of the areas this could be located if it's a 6 unit with parking garage at that price (101k).  

There is a lot of learn about seller financing so I would start searching that topic and you will find tons of information.  The sky is limit in the creativity and how you structure the deal so it's impossible to give you a crash course without knowing more about it.  

@Tim Herman brings up a great point in that you should first find a commerical broker that is willing to work with you in some creative financing strategies.  If the owner is only willing to hold paper for a smaller amount you're going to have to find a way to come up with the difference and getting a bank to approve that is going to be a hurdle.

S&T Bank, which has branch locations in western PA will finance properties under 50k.  They have great rates/terms.  I use them for my properties in Central PA

I would also highly recommend the local meetups if nothing else for the networking alone.  All of the local ones mentioned are great resources.  Best of luck and if you have any questions don't hesitate to ask.  

I use Josh Clelan (ReMax agent).  Please reach out to me if you need his contact information.  

Attend a local real estate meetup and ask as many investors as you can.  If the same name keeps coming up I bet they are worth looking into.