All Forum Posts by: Andrew Hofing

HI @David Wilson good to hear a success story in Pittsburgh.  Where was this first investment property you bought?  Are you still in the painting biz?  If so our company is going to start a rehab on a property this month and need to check out painters.  

Utmost regards,

Andrew

@Zoran StanoevI believe they are thinking of making it a capital contribution that is deposited in our REG account for next investment opportunity. Although, from talking to another investor/Realtor it may be better to make it a loan including their loan interest that is pd on their LOC. With all that being said we will consult a Real Estate CPA and Attorney to weight the pros and cons of what will be the best scenario for proceeding.

Thanks for your input!

Ok, Here is the scenario.... My partners put our first property under contract. They own another business for which they have a line of credit available. We are purchasing a Single family home to either wholetail, rehab to retail or possibly sell on lease option. They have already began purchase processing under their business entity. They are thinking that once we close on sale of the property that they will take the profits and immediately dump them into our Real Estate investing LLC. Is there any issues tax wise or legally that would cause a problem?

Hi @Mike Rodack WELCOME to the site the wonderful world of REI. I am a member of the Pittsburgh REIA. I should be there next month and look forward to potentially meeting you. @JoshCaldwell is the REIA president and a solid guy. I believe he is on here and you may want to connect with him as well.

Good Luck

@Michael Reicherter WElcome to the site and the world of REI! Where are you looking to invest in Pittsburgh?

Hi @Jeremy Pace where exactly do you find the market rents on the Allegheny County website? I found them in the Housing Authority, but did not see anything related to rents in the county website. So, do u just gather information from other sites, property managers and then compare to what is listed as FMR in AGHA and county site or do you calculate a median rent figure?

Thanks!

Hi @Brecht Palombo  I am looking into investing into your programs.  Before I get too deep into the rabbit hole.... I have a question.  Well, I'd say I have a bunch of questions.  First and foremost do I need to have a license to broker notes?  I am in Pa. and I am not a Realtor nor a lawyer.  

Utmost consideration,

Andrew

@Nathan Worden thanks for the guidance.  Yes it is a similar feature.  Although it looks slightly different for me.  Maybe it varies by region for the layout.  I was initially just going from the property that came up in your initial link and so it was asking those questions.  I went back to the beginning and started the process over and it works.  It seems like a good tool.  I will have to do more property analysis to see how accurate it may be.  Also, I'll have to further dig into the radius tool to what all it does.

Hi @Matthew Smuts

Welcome to the community!  I am an aspiring investor in Pittsburgh as well.  I have been getting educated, making contacts and analyzing many deals over the last 2yrs.  We just haven't found that right deal as of yet.  If you need or want any into's to lending sources, brokers, realtors then I'd be happy to share.

@Matthew Smuts What you can do is have a title search done. You can contact a lady named; Thea Justice. She does due diligence research for investors. Many investors with the Pittsburgh REIA have used her, but unfortunately I haven't had the chance as of yet. I thinks it's relatively affordable and it will ease your mind to some extent. Add me as a colleague and I can msg you her contact information if you are interested. Good luck!