All Forum Posts by: Derek Rocco

Hey, Alexander. My wife is a real estate agent, feel free to PM. Pittsburgh is a great market right now. I can give you some leads if you need. thaks

Hi, all.

Want to be as honest as possible here. I've found a really good rental property in a college town near Pittsburgh. Toured the Property tonight and the house isn't in bad shape but it probably needs about 10-15k work. No foundation issues as I could see. According to previous owners they've gotten $4800 per student for a full school year. Unit has rented up to six in the past. After expenses, cashflow estimated around $1300. So I'm looking for a private lender to help out here. I don't have the experience, but I have great credit. PM me for more details.

thanks!

Rob Lane great stuff. Thanks for sharing. How did you get started?

Jing Hoyer as others mentioned, welcome to the Pittsburgh market. My wife is a realtor so if you have any questions or need any help let me know. The Shell thing seems to be very promising. Neil Metzger where do you run your property management business? Would love to ask you a few questions.

Bit of an update. My wife is a real estate agent, so she made an arrangement to see the house. We're going to see it tomorrow. But the one catch - not sure if this is even considered a catch - the other Real Estate told us the owner would only consider a cash offer. Now we don't really have the capital on hand to make this happen. Any ideas?

Thanks Kevin Siedlecki Peter Mckernan I was just reading that smaller banks are the way to go. Thanks to both of you for the quick responses!

Dawn, Thanks so much for the advice!

Hi, all. My wife and I are in the research phrase of making our first deal. The deal would be for a duplex in a college down with 3 units. Comparable comps rent for $700 a unit. The duplex is 50k My question though is how should I go about my first loan? My wife and I own a house, do we go to a bank?

Hi, all. Just wanted to say hello and say what a great resource this site is. Just finished " Rich Dad, Poor dad, " and really am motivated to get started. Been trying to immerse myself in any info I can get my hands on. My wife is a real estate agent and also is excited. We both make a decent amount of money but the allure of getting out of rate race is so appealing. One question to anyone out there, when did you do your first deal? We're just about ready to get started but I still feel a little uneasy about taxes and financials. Can anyone provide any advice?