Need advice. Anyone in the Pittsburgh or PA area?

Need advice. Anyone in the Pittsburgh or PA area?

Flipper/Rehabber · Pittsburgh, PA · Member since 2019 · 8 posts · 5 votes

I'm looking to seek advice from you professional investor, lenders, etc. I live in Maryland and I do my real estate investing in Pittsburgh, you may ask your self why? Well the reason being is I'm from Pittsburgh, and financially it just makes better sense to me right now. I've only been doing real estate investing for a couple months now. I purchased a property in November, 4 bedroom home as a fix and flip. 25k purchase price, 30k rehab, ARV 180k. I will be placing the house back on the market at the beginning of February. I'm looking to do another flip then I want to start focusing on rentals to gain more of a passive income. I've been spending all of my personal cash on all of my investments and never used a hard money lender or private lender. With me now focusing on rentals I wanted to try the BRRR technique and go that route. But I'm a little lost where I can find a reasonable and trust worthy lender to work with and build a business relationship with because I'm looking to buy at least 10 rental properties by the end of the year. Also, do anyone know of any banks who specialize in refinancing certain investments like the one I'm referring to? I would also like to know if any great rental locations in Pittsburgh? Has anyone done the brrrr method who would like to go more in depth with me on how it works? I would love to chat. Thanks again team.

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  • Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
    7y

    S&T Bank

  • Flipper/Rehabber · Pittsburgh, PA · Member since 2019 · 8 posts · 5 votes
    7y

    @Jim K. Thanks a lot Jim. I hope business is going well.

  • Flipper/Rehabber · Pittsburgh, PA · Member since 2019 · 8 posts · 5 votes
    7y

    @Jim K. Can you clarify what banks those are, I tried googling them and nothing came up

  • Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
    7y

    The bank is called "S&T Bank." They do a lot of home loans. The website is www dot stbank dot com.

  • Property Manager · Pittsburgh, PA · Member since 2012 · 267 posts · 136 votes
    7y

    Best two for cash outs I use are InFirst Bank and Somerset Trust Company.

  • Flipper/Rehabber · Pittsburgh, PA · Member since 2019 · 8 posts · 5 votes
    7y
    Originally posted by @Eddie Werner:

    Best two for cash outs I use are InFirst Bank and Somerset Trust Company.

     Thanks Eddie, one more question. I’m not to real estate and just being doing some fix and flips. Do you know of any lenders who I should like at to found my first deal on a multi unit in Pittsburgh. For my past flips I’ve been paying 100% out of the pocket. I’m looking to finally go the OPM route. But my only concern is someone not lending to me because I don’t have enough skin in the game yet. Advice?

  • McKeesport, PA · Member since 2013 · 4 posts · 0 votes
    7y

    Do hard money.com

  • Member since 2019 · 3 posts · 0 votes
    7y
    Originally posted by @Eddie Werner:

    Best two for cash outs I use are InFirst Bank and Somerset Trust Company.

     In your cash outs have you used delayed financing with either of these two lenders adding rehab cost to the closing statement? 

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