Rookie Investor Looking for Insights

[Laura Rice]

Hi everyone! I’m a rookie (currently zero properties, been in the research phase for a few years) and would love to tap into the collective wisdom here 😊

I’m planning to invest in Pittsburgh and am looking for a rookie-friendly to-do list for getting started the right way. I’ve already begun conversations with a local realtor, but I’d love recommendations from anyone who has personally invested in Pittsburgh.

Here’s what I think I need to do, but I’m not sure about the order or what’s truly necessary upfront vs. later:

• Find a solid investor-friendly realtor

• Line up financing (bank vs. credit union vs. lender recommendations?)

• Decide whether to form an LLC now or wait

• Understand what type of loan makes sense for a first investment

• Figure out if/when I need a real estate attorney

• Build a local team (property manager, inspector, contractor, etc.)

For those of you who remember being in the “new investor” phase:

• What would your step-by-step to-do list look like if you were starting over?

• What did you do too early that you didn’t need to?

• What do you wish you had done sooner?

Any Pittsburgh-specific advice, lender/realtor recommendations, or lessons learned would be hugely appreciated. Thanks in advance!