All Forum Posts by: Elise Bickel Tauber

Hey everyone! Also from Pittsburgh! I'm an investor and also own a property management company. Just had a baby 2 months ago so I'm not able to make it but I'm sending part of my team down this year. Can't wait to see what they learn and also looking forward to 2022 as I really want to attend!

Hey Elliot. I own a property management company in Pittsburgh and we have had to do a ton of decks. A good question to start with is, where in Pittsburgh is the deck located? I ask, because depending on the boro/town there may be requirements that the rebuild needs to be approved by code with engineer renderings and a certified contractor to complete. Depending on what area, I can give you a ballpark of a handyman versus a contractor who is certified.

I personally invest in Carrick. So far its been really good. I also am shocked by the upswing of rental prices and property values in the area. A couple years ago a 3 bedroom in good condition was renting there for around $750/month. I recently had a 3 bed 1.5 bath in good condition rent at $1250. I also own a property management company and I have a few investors that LOVE the area and one in particular that owns about a dozen that are all 3 bed 1.5 or 2 bath with a 1 car garage that rent between $1300-$1400 (not over updated/rental grade). 

Hopefully that helps.

If you have any other questions about the area I'd be happy to help.

Hey Doug. I highly suggest you reach out to @Account Closed who does a ton of first time home buyers and first time investor work and knows Beaver County really well. With the price point you're in, Beaver County sounds like it might be a great area for you. He should have some additional suggestions.

I personally really like BRRRs. Also, just to understand, have you thought of House Hacking? Not sure of your particular circumstances but I've been helping a lot of investors recently with house hacking and its a strategy not everyone thinks of. 

Best of luck! Tons to learn here on Bigger Pockets!

Hey Gary! Hope you're doing well. Are your investors seeing an uptick in the McKeesport, Port Vue, North Versailles market? We just started to see an uptick with the development proposals going on down there.

Also, a large increase for Carrick and Mt Oliver (I remember 5 years ago I wouldn't touch Mt Oliver with a 10 foot pole lol).

Biggest problem we are currently having for our investors (and my personal investments) is that the inventory is so limited there is a feeding frenzy on whats out there.

First, there is no lease that will supersede a local, state, or federal order such as the moratorium. I see private landlords write all types of stuff into leases that aren't legal or is superseded by laws and the judge will through the lease out. A few things I suggest that has been working really well for us is 1. Write your leases month-to-month. I've been doing this a decade and a half and hate short term leases, however, in this climate, if a tenant is not paying I will choose not to renew the lease the following month and tenant is now a holdover tenant versus just a non paying tenant. Judges have been finding in our favor in these situations. 2. Tighten your criteria. It stinks because there are a lot of good well qualified tenants that have been hit hard by COVID but at the end of the day it's business 3. Stay on top of any and all rent help you can find for your tenants. CARES, Action housing, etc. Anything you find that will help tenants pay rent, give those resources to your tenants. I know it isn't your responsibility but not only does it help if they decide to use those resources, but when you do end up in front of a judge, they will side with a landlord who can show they have done everything they can to help their tenants.

Best of luck. These are crazy times were in.

I've had a few investors recently who invested in areas that aren't declining, decide to sell their single families and either invest in other single families in areas with a better appreciation, or large multi-units. At the end of the day, you do need to look at your short term and long term investing goals and decide what is best for you.

Hey Dylan,

Just to be 100% honest, this is a difficult situation that is made much more difficult by COVID. We manage throughout PA but primarily in Western PA and we have seen not only is the moratorium in place through 3/31/21 but there are talks about it lasting through the year. Even when the moratorium is lifted, you are most likely going to see magistrates be very lenient with tenants due to the difficulties of COVID. If you are willing to hold off on closing until this owner can get the tenant out, then great; however, you said the numbers work even at the lower amount, so if thats the case, close on the property and wait to get the tenant out until you can. At least you'll have some income on the building until you can get the tenant out of the property. Just me thoughts.

So we've done maybe a dozen multi-unit brrrs. I think most investors are missing out on a really good opportunity there, it might just be they don't have the capital to complete that. Most of the BRRRS have been in areas like Brighton Heights, Brentwood, Brookline, Carrick, Mt Oliver, and Monroeville to name a few.

We set up our LLCs through legal zoom and have been happy. I have an LLC with 1 owner and a couple with 2.