All Forum Posts by: Jesse Rivera

Read your blog and looked at some properties in Pittsburg. I found a couple of duplexes for $90000. I am not familiar with the Pittsburg market. Are these prices for units that are in dangerous or risky areas?

It depends. You can definitely find some great cash flow duplexes in that range, in great working class neighborhoods (not the hood), but I couldn't tell you unless I knew the addresses. Pittsburgh changes from neighborhood to neighborhood, from street to street.

I'm actually in Pittsburgh right now checking on our projects and doing a lot of networking. Every time I come here I get more excited about the investing possibilities.

1 Vote

We love the Pittsburgh market! Here's a blog post I wrote explaining why:

https://www.biggerpockets.com/member-blogs/10055/86570-why-we-are-investing-in-pittsburgh-pennsylvania

5 Votes

I'll be there. Looking forward to meeting you.

0 Votes

Originally posted by @Kevin Hill:

+step: If you are planning on financing the purchase+reno, you should get pre approved with a HML in advance of going under contract. This will make sure a lender is ready to close within the timeframe needed. If you are buying+reno in cash, then you should be talking to lender about rental loans and steps for cash out refinance...

Even if you are using a Hard Money Lender, you should still get qualified with a lender to refinance out of the HML. Very bad if you find out you don't qualify for a long-term rental loan and get stuck with a hard money loan.

1 Vote

Originally posted by @Cameron Tope:

@German E Franco you're asking the right questions but not towards the right person.

Have you asked the investor what you can do to help? He/she will tell you how or if you can help. (This is how I started with my mentor)

Only other suggestion, if they say no thanks then either keep asking or find another successful investor that's doing what you want to do and ask them.

Agreed. Be persistent. Call or text him every couple weeks - like clockwork. He'll see that you're serious and at some point need help with something.

2 Votes

You've got the time and energy, others may have the money, and not the time or energy. Learn all the benefits of cash flow real estate and then start looking for partners. Show them how it works. Start with friends and family. Be persistent, but not pushy, it may take some time to convince people.

1 Vote

I fixed it for you.

"Real estate should only be about 50% of your portfolio."

31 Votes

The wrong kind of paint will do that as well. It has to be paint specifically for vinyl siding. we've had that happen with the wrong paint.

0 Votes

Originally posted by @James Cox:

@Ryan Nolan

I’d be inclined to leave it but that’s the appraiser in me talking. In all the appraisals we’ve performed the market doesn’t seem to react strongly to replaced/brand new mechanicals vs older functioning units. When a homeowner tells me about their new ac or water heater or roof, I think to myself, “congratulations on maintaining your home.” I note it in the report but it’s nearly impossible to line item for value and conveys a level of precision that doesn’t exist in an imperfect real estate market.

If you hold out and don’t touch it, then you can see at the time of negotiating if it even matters to the buyer.

Very interesting point. I would love to hear from other appraisers on this.

0 Votes

@John Warren Great point about inspectors, I forgot to mention that part of it.

@Share Ross I agree with your agreement!

0 Votes

All Forum Posts by: Jesse Rivera

Jesse Rivera has started 24 posts and replied 459 times.

Post: Is Pittsburgh market good for investors?

Post: Is Pittsburgh market good for investors?

Post: Pittsburgh REIA Commercial Group Monthly Meeting

Post: 1st BRRRR Investment

Post: How do I bring value to a new investor?

Post: How can a young investor get to his first passive income?

Post: Dave Ramsey says RE should be 5% of portfolio

Post: What is causing my siding to melt?

Post: Should you replace an old A/C on a flip?

Post: Should you replace an old A/C on a flip?