All Forum Posts by: Alec Jacobs
Alec Jacobs has started 32 posts and replied 64 times.
Post: Experience in Baden PA
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
Good morning everyone.
I am looking at some properties in Baden PA to house hack and I would like to know what the market rent is. I used the BP rent estimator for a 1 bed 1 bath and I got $900 which seems to be to much but I'm not incredibly familiar with that market.
I would also like to know if any investors have any key insights about Baden PA or surrounding markets that they wish they would've known earlier.
Thank you!
Post: First time home walk through
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
Thank you for your advice
Post: First time home walk through
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
Good morning everyone.
I am planning on walking through a home with my real estate agent in person and I was wondering what type of things I should look for and what type of questions I should ask. I know some questions depend on exit strategy and I plan to house hack this property. Any general or specific advice is greatly appreciated.
Thank you!
Post: What should I bring to a Real estate meetup
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
@Account Closed
Thank you so much!
Post: What should I bring to a Real estate meetup
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
My name is Alec and I am a newbie real estate investor and I plan on going to a meetup soon and was wondering what all I should bring and questions to ask.
I know that I need to go into the meetup with a specific goal in mind and to not get sidetracked so I would like input on who/what I should seek out or some instances of very successful meetups.
Thank you!
Post: House hacking Advice/Experience for Beaver 15009 PA
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
@Jeremy Taggart Thank you so much for your in depth advice! If I have any questions further down the line I will shoot them your way.
Post: House hacking Advice/Experience for Beaver 15009 PA
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
Quote from @Bryce Jamison:
When I was renting out rooms in my first home all of the utilities (internet, water, electric, cable) were included in the rent. It was easier to raise the rent $50 bucks a month then trying to calculate how much everyone owned every month. Yes, I could have divided costs by the number or roommates at the time, but I didn't want to deal with one of them complaining that that were away for several days and someone else takes really long showers for example. Plus I didn't want to have to deal with collecting rent and collecting utilities especially given that different utility bills came due at different times in the month
For insurance, I'll call my local agent I've worked with to get insurance on my primary home and investments and give them the address of the property I'm looking for and they'll give me a quote. Call 5 local agents and do this and you'll know what typical insurance should be. In my experience their "standard" policies usually only cover about 80-90% of what it would cost to rebuild the home, so I'll typically opt to have extra added so I don't have to come out of pocket if something catastrophic happens to the home.
@Bryce Jamison Thank you for your advice and experience! I will execute what you said about calling agents and I will move forward with my deal analysis with your rent advice in mind.
Post: House hacking Advice/Experience for Beaver 15009 PA
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
Quote from @Alex Deacon:
@Alec Jacobs welcome to the investment community. I own properties all over the Allegheny and Beaver county areas. Reach out to me if you need any help. FYI that insurance quote is outrageous. I just audited all of my properties and got a few different quotes. For a 100k single family you are looking at between $400 and $800 a year depending on some criteria.
@Alex Deacon Thank you so much for your input! My leads will probably pencil out a lot more favorably now. If I have any more questions about the area I will send them your way.
Post: House hacking Advice/Experience for Beaver 15009 PA
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
Good evening! I am a newbie real estate investor looking to invest in the Beaver 15009 PA. To any real estate investor in that market (or any experienced investor in general), I would like to know how you handle the utility costs for properties. I am planning to house hack and so far I haven't gotten many leads with separated utilities and was wondering what the best way would be to navigate that problem. It seems unfair, or maybe even illegal, for me to have my tenant pay the utilities for both of us but I'm not sure what another other option would look like.
Another question I have is about insurance. I threw together an all-state quote for a 3bed 1bath lead I got just to try it out and it said I would pay around it said I would be paying $141 monthly. I know insurance depends on the market and property but if that number is outrageously low or high please let me know!
Thank you so much!
(P.S. here is the analyzation I did on the property if you wish to look at it)
Post: Real Estate Experience in Pittsburgh, Pennsylvania
- New to Real Estate
- Industry, PA
- Posts 64
- Votes 50
Thank you for your response!
I am looking into Beaver County (Vanport/Beaver area specifically) because I plan on doing the renovations/management myself and those markets are not far from where I live.