All Forum Posts by: Hunter Stoudnour

Quote from @Loch Davis:

Hello! I am getting started with investing in the Pittsburgh area. I am looking for a local real estate agent that can help me find my next deal. Any recommendations? Also, I could use some help with my general strategy. Thanks!

Hey Loch,

I’m a local agent here who only works with investors and rental properties. Feel free to reach out! 

Property Manager – Do your due diligence and ask around. The right property manager can be a valuable asset for your investment and can help you find the other resources you need.

Realtor – Look for one who knows the market, understands your needs, and hopefully has a good relationship with your property manager.

Contractor

Lender

Attorney – A local attorney or someone knowledgeable about the specific market can be a great help when it comes to local ordinances and laws.

Hey Jeeun! 

Congrats on your investment journey! What type of strategy will you be using to start?

Hey Jacob,

A good real estate attorney is invaluable if you’re going to take on this venture. There is a lot of useful information and individuals right here from whom you might be able to gather most of what you need. However, a local attorney can provide insights into specific local real estate laws and ordinances. I would recommend contacting your local government and requesting a list of properties with back taxes, then start analyzing the areas where you think you can add value.

Quote from @Sam Zawatsky:

I am really split between new cabinets or getting the old ones repaired and painted. I think new cabinets would be around 3000 fully installed. And I’m thinking  it would raise the rent by 50-100 dollars a month. Now as far as countertops, I was gonna get new Formica, which I expect to be about 1600 fully installed with a new sink. Whereas quartz or granite would be around 3200 installed with the new sink. Doesn’t granite have maintenance issues?

Sam, I am not sure what your long term goals of this property are but I think painting the cabinets could add a nice touch for little cost. I have done so for a few of my properties and its amazing how much it improves the look. I've went with white, gray, and even a navy blue for one of my kitchens. 

Hey Francis,

This is a great place to start!

 https://www.biggerpockets.com/blog/estimate-arv

Hey Pawaroon,

Reading through this thread, it looks like New Jersey poses a higher barrier to entry than some other markets. I'm not sure what your personal situation is, but the Philadelphia market could offer more opportunities for you with your financials compared to NJ. It's close by, so I thought it would be worth mentioning! Good luck.

Hey Evan,

I would check out BiggerPockets' Top 2024 Cash Flow Markets spreadsheet. I want to say Indy came in around 85th. It sounds like there are a lot of promising opportunities there. The only thing I would recommend is that you consider where you would personally have the highest quality of life along with a good real estate market. In my experience, if you find other value in the place you are living, it will give you more motivation for your investment goals.

Wishing you the best!

Hi Albert,

I've had a few tenants ask to do work on some of my properties. Oftentimes, they see it as a great opportunity to reduce their rent while helping their landlord with repairs. It sounds like a win-win, but we often overlook a few major factors. You need to ensure the work is done professionally to maintain a safe living space. Setting clear boundaries and expectations between you and the tenant helps maintain professionalism. If you're unsure about what to do with the flooring after inspecting it, consult with someone. Use it as a learning experience because, after all, that's why we're here!

Hi Edward, Anderson makes a great point about Pittsburgh. We have an older housing stock that has a lot of opportunity to add value. I have been investing in the area and the surrounding areas for a few years and found some success. If you're interested feel free to give me a call and I can try to answer more of your questions.