In the Pittsburgh, PA market.
So I have a good problem if you will.
I BRRRRHOUSEhacked my first duplex with 100%, PP+reno+cc, my fathers monies. I purchased off him using FHA loan 30yr @2.25% 96.5LTV 3.5% ~$8k total out of my own pocket. Plus he gifted equity to excuse the exemption on non arms length transactions. Which would of capped my FHA LTV at 85%.
Purchased that why to save my own capital, improve my credit score, and I saved on taxes! In PA no realty transfer tax on family to family transactions.
Say all that to say, I used private money on my first deal and paid my lender back plus the interest. So my good problem is I can reuse the original $190k from my dad, but he also is sharing one of his lenders with me. She wants to invest potentially up to $250k but for sure $150k right now.
The challenge for me is to learn the velocity of money. So I need to find deals to take this initial monies and reuse it potentially 4x a year.
Hey Javonn. What neighborhoods are you working in? I'm in Pittsburgh also, would love to connect.
Hello @Javonn Musgrove ! Congratulations on your first successful deal! Pittsburgh is such a great market for returning your investment! I'd love to talk more about what you are looking for in your next deal!
I am interested In purchasing a 14-18 unit and Houston and converting to Airbnb in. I have about 34 units that grosses ty 50k cash flow a am. I have a significant amount of liquidity , just would prefer to have 50% at least ans save cash reserves. Total j bad. Is a oboist 700000
Have a local investor friendly / knowledgeable realtor put you on a filtered MLS distribution list that auto generates and sends updates to you on the daily or weekly basis.
Connect with some local wholesalers.
Check the county websites for auctions.
Call up local property management companies and let them know you are looking to buy in case any of their owner / clients are looking to sell.
You can also learn about buying lists and doing direct mail campaigns, cold calling, driving for dollars, etc.
There are probably another 10 other methods I haven’t listed here.