All Forum Posts by: Edita D.

Hey guys! 

I am researching Pittsburgh's economy and housing situation to better understand where the region is headed.

I found out that Pittsburgh has high vacancy rates. I wonder why that is... Is it the oversupply of high-end apartments in Lawrenceville, East Liberty, etc that are adding to the vacant units?

Please, share your thoughts :)

Thank you!

Thanks Dave!

We sold our 4-unit property for 905k ( bought it in 2011 for 475k). Now we want to buy two buildings, each 4-units, for total of 900k using money from the recent sale.

Does the lender need to issue 2 separate loans for 2 separate buildings?

Hey guys!

I am getting pre-qualified for a loan, we are planning to do a 1031 exchange.

The realtor referred me to 3 lenders, 2 of which never done 1031 exchanges. Does the loan officer need to be knowledgeable about 1031 or is it not necessary?

Thanks!

Edita

@Anthony Angotti Thanks Anthony! 

I like the Mt. Washington area, but I heard the tenant turnover is every 1-2 years (young professionals). Somebody mentioned some other areas have much lower turnover than Mt. Washington (and other areas catering to young professionals)

@Anthony Angotti Thank you for sharing the starter sheet :)

I am excited to check out the neighborhoods on the starter sheet. Generally, what I am looking for is not better returns (as long as 1% rule applies and there's positive cash flow), but rather:

-strong rental area with rents historically going up

-long-term tenants that would treat the property well (NO STUDENTS)

@Jeremy Lee Thank you for your input Jeremy!

Hey guys! We just sold our 4-unit building in San Diego, looking to do a 1031 exchange. 

We would like to invest 700-900K (two buildings containing 2/3/4 units) into neighborhoods with young professionals (NOT STUDENTS), where we'd like to be able to collect 1% rent (of the purchase price).

I've been looking at Lawrenceveille, Morningstar, Highland Park, Sq. Hill, South Side (Slopes and Flats) and Mt. Washington neighborhoods, but I am not sure our 1% rule can be met here due to increasing home values in the area in the past 2-3 years.

I was also looking at Brookline and Greenfield.

Any other suggestions for other good neighborhoods with strong rentals and low vacancy rates?

Thanks everybody for your input!

 @Ronald Rohde Yes, I read a lot on BP, but not about apartment buildings (mostly pertaining SFR and landlording). I realize apartment building search, acquisition and management are a lot different from SFR (niche & demographics, picking the right location, etc)

@Michael Swan Thanks! I will check it out :) I also found a book specifically on the subject by Jake and Gino here on BP :) Will read that one as well :)

Any other suggestions anybody? 

Hi there!

We sold our 4 plex and are looking to invest into a small apartment complex, possibly out of state (we live in San Diego, CA). Any book recommendations to educate ourselves on ins-and-outs of out of state apartment building buy-and-holds?

Thanks!