All Forum Posts by: Caleb Stevens

Hello! I recently just purchased a duplex in the Pittsburgh market and I am having a tenant turnover in the next feew weeks. I wanted to ask if any of you guys have a reference to Carpet Cleaners who would be willing to travel to Verona, PA to clean carpets at my unit? Thanks, in advance!

Hey John!

The best thing you can do is LEARN. I know that is such a cliche answer, but the fact that you are interested in real estate at such a young age is fantastic and will help you with all of your future goals. Just simply listen to podcasts, read books, and attending local REIA groups can help out in so many different ways. Best part, you can do all of these for FREE.

However, if you truly want to make money through real estate investing, I would look into wholesaling. This is a tough subject, as there are many wholesalers out there but most are not great at what they do. So I would focus becoming a GREAT wholesaler. Being a GREAT wholesaler requires you to read as much wholesaling books as you can, attending free wholesaling webinars, and try to see if you can shadow local RE investors by offering to do things for them for free. Once you get a grasp on what wholesaling is, you can start jumping into that journey and you will already be miles ahead of other investors, but again, it comes at the difficult task of learning as much as you can and not giving up.

Hope this helps and feel free to reach out if you have any questions!

Hey Isaac! I agree with what Wenda said. Using OPM (Other People's Money) is such a great strategy, especially in this market where money is flying out like crazy. Either finding someone you trust (like a relative or friend) or someone on BiggerPockets/another Social Media Platform is a great start.

My wife and I have actually been eying the Pittsburgh market, so would love to know how your next property goes!

@Kaitlyn Castillo, ultimately a GOOD mentor is not just going to fall onto your lap, espeically if you are new to REI. Mentorships and Masterminds normally cost money to join or help you out. Yes, you could find some good random mentor online that may do it for free, but it is really hard to find.

What I would do at your position is learn as much you can for free. That can be through YouTube videos, local REIA meetups, or listening to podcasts/reading books. After a few months, this should be all you need to get to you through your first deal, as learning from experieince is the best way you can learn! However, if you still don't feel comfortable, start looking for mentorships or masterminds that HAS THE SAME GOALS AND FOCUS AS YOU. I can't reinstate this enough. You don't want to have a mentor, that only focuses on Florida Commercial properties while you are looking to invest in Chicago SFH.

Ulitmately, REI is all a mindset game. Once you get the right heads space, feel confident with your offers, and understand that there will be lows and highs in investing, that will make you a great Real Estate Investor!

I hope this helps and let me know if you have any further questions about this!

If you haven't read this already, I strongly recommend Rich Dad, Poor Dad by Robert Kiyosaki.

I can almost garuntee every successful real estate investor has read this book.

It will change your life and the way you view money.

Hey Sebastian,

I would recommend looking into using a Hard Money Lender just make sure your ARV and rehab costs are as accurate as they can be (check other investors in the area, contractors, and investor-friendly realtors on the numbers).

Since this is your first rental property, I would actually stay away from using a family member just yet becasue if the deal doesn't work, you may end up losing that relationship forever. Especially if they have never done REI in the past. But if they know what is going on, have the accurate information, and you are using a less-risky strategy, by all means use your relative.

What's nice about using a Hard Money Lender is if the deal falls through, it will just affect you. However, using Private Money or other people's money, if the deal falls through, it affects all involved.

Again, just make sure your ARV and rehab is as accurate as possible, as refiancing @ 75% for a $180k property will get you about $135k which will only leave about $2.5k in the property, which is a great BRRRR.

Hope this helps!

Caleb

Hey @Adam Zdunek, thanks for the quick response!

Hearing that the units are quickly rented out helps as it seems New Castle has a strong rental maket.

I will contact you further if we have any insurance related questions.

Thanks!

Hey guys!

I am beginner real estate investor and I have a brother that goes to school in Slippery Rock University. I would love to split a house-hack with him and we noticed a small town not too far away called New Castle, PA. We are interested in that area due to the low property prices and an average renter-occupied households. However, while scrolling through Zillow, it seems like the supply in that area is quite small, especially for getting a SMF.

If any Property Managers, Realtors, or Contractors work or are involved in that area, I would love to hear what you think about New Castle, PA and if there is enough of a demand to purchase a real estate property in that area.

Thanks!

Hey David! 

I think the easiest way to gain knowledge on the real estate market is to join a local REI group and just sit back, listen, and take notes. BiggerPockets does a good way to find local groups when you go to NETWORK -> EVENTS, then search up your zipcde and find one from there. I am apart of one of these groups that meets on Zoom (for free!) on Tuesdays at 8:00 pm and talks about the Northern New Jersey Market (including Jersey City). If you are interested in joining, feel free to DM or just find the "Zen and the Art of Real Estate Investing" on the EVENTS page.

Let me know if you have any questions about this!

@Steve Uhlig Good to hear! Have you been using Leo? I heard he is the one taking care of the Pottstown rentals