All Forum Posts by: Elise Bickel Tauber

Hey Craig!

Excited for you to start your investment journey.

Pittsburgh, PA is a great place to start. What I really like about Pittsburgh is that you can pick up $30-$40k properties that need some work and have decent returns, mid priced properties in the 100k's, or large multis. There is a little of everything here. There bad, good, and great areas. And if you keep your pulse on the area, you can see trending areas and get a head of the curve.

Hey Terry. I highly suggest you connect with @Anthony Angotti. He works with a TON of the investors that we manage for. He can get you pointed in the right direction!

Have you considered possibly either a hard money lender or a 203K loan so that you can purchase something that needs work, renovate, lease, and then refi? (BRRR with a twist). This is sometimes a really good approach as you can usually pick up a really good deal, renovate so that the property is in good condition (for less repairs and top rents), and also not have to put in a ton of money. I've had a few investors do this recently and it has worked out really well. If you consider doing this on a few single families, you can usually have some decent cash flow. Hope that helps a little.

Are you looking for contracts for sale? PM me. I can try to help!

The reason I say 6 is that in the last 2 months I've seen ridiculously high priced properties go quickly at very low CAP rates. Last year this time I was helping investors pick up in 9-11 and up CAP but now it's much lower.

Coraopolis is a really good area that single families are seeing anywhere from 8-12 (especially if you are going BRRR). Multi units are in the 6-8 range. You can sometimes find good deals even better than that.

Another area I have seen good returns that is somewhat nearby is Carnegie. 

Highly recommend Pittsburgh. The market here is wonderful!! If you are looking for an outstanding agent to help point you in the right direction when it comes to investment purchases I HIGHLY recommend @Anthony Angotti!

He helps tons of the investors we manage find great investments and everyone seems very happy with his work. Reach out to Tony and see how he can help!

My understanding is that you will need to file an ejection. My colleague had this happen with one of the properties they bought through foreclosure. The process was pretty simple. They filed with the magistrate, they went to the magistrate. The occupant didn't show up (even though he was ready with information in hand to prove they had no ownership or leasing rights) and 21 days later the occupant was ejected. He did have to abide by the property holding rules (the man came back 8 days later to collect belongings) and he was off to the races for his flip! Good luck!!

West Mifflin is a solid area for renting. Rents are currently around $650-$800/month depending on finishes. Also, from what I know about the property, there is a garage with possible efficiency above. Since it is zoned duplex, it would be easiest to use that space for storage. Going rate for around West Mifflin for garage with storage is $100-$150/month (possibly higher depending on how large) so that would be additional rental income.  

Average Management rates around that area are 8-12% as well so I think you are spot on with your numbers.

Hope that helps!

@Michaela G. oh, makes sense. lol