All Forum Posts by: Justin Riapos

Jay & Jeremy thanks for the comments - I appreciate the input.

Best wishes

Hey everyone!

 I'm in the Pittsburgh area and just have a two questions regarding wholesaling. 

1. How's the wholesaling market here in Pittsburgh? 

2. Are wholesalers able to assign contracts at closing on a wholesale deal or is it required to do a double close in PA?

Any input/advice is greatly appreciated!

Hey @Andrew F. - it seems like we're in very similar situations. I ultimately want to build a buy & hold portfolio but currently am still looking for another avenue to enter into the REI market. Personally, a flip or a wholesale deal would be ideal to build some capital and reinvest into more deals. Hopefully we can link up in the future, best of luck to you!

@Josh Caldwell, I would like that! I'm going to be out of town during the next meeting but perhaps I can come to the one after that. I'll be in touch - I'd love to talk real estate with all of you guys!

Best wishes,

-Justin

@David Marsceau thank you! That is a good goal - hopefully we can cross paths in the near future!

Best wishes,

-Justin

@Andrew Medici that makes sense - I hope your trip up this month goes well and you get something under contract! Best of luck to you!

Oh gotcha @Danelson Rosa - That's awesome though!

I have looked at the BP's tools before but I still need to get a pro membership to be able to access them more. I've mainly been running the numbers for rental properties using the "four square method". I found this unique analyzing method from a video on youtube by Brandon Turner (the VP of communications at bigger pockets) who I'm sure you know of! 

As far as what houses I look for - I try to find properties that need a little bit of work to create some forced appreciation. As long as the numbers are right for the income and expenses you should be able to find an accurate cash on cash ROI percentage. I'm still pretty new to this, but found it a good place to start analyzing deals!

Like I mentioned, I ultimately want to get into buying and holding properties but I'm still debating on doing a flip for my first deal. At this point, I am in the process of finding the "right deal". I need to get everything in line as far as the details but I primarily will be having most of the work contracted out if I do go forward with a flip. I luckily have built good vendor relationships with several general contractors, flooring companies, cleaners, etc by being in the property management industry.

 I like that quote, I actually just heard it on a BP's podcast episode on my way to work this morning - super ironic!

I appreciate your insight and the conversation, best of luck to you!

Until next time,

-Justin

Thanks @Andrew Medici - Good luck with your goal! Out of curiosity, what has been holding you back from pulling the trigger on a deal? 

Hey @Jay Belcher, 

I plan on joining a REIA very soon, I will give that group a look. Very excited to start networking with investors in the Pittsburgh area. Hopefully we cross paths in the future!

Best wishes,

-Justin 

Hey @Alex Deacon - I will definitely check your page out. I'm sure we can help each other out, I look forward to talking with you!

Best wishes,

-Justin 

Hey @Danelson Rosa, 

It's always good to connect with people from Pittsburgh, I hope New York is treating you well! I like the term "advanced newbie", I think I'll roll with that haha

I currently do not have any REI experience, at this point I've been learning as much as I can. I look at new deals daily and try to understand the market as much as possible here in Pittsburgh. I try to make it a point to evaluate at least one deal a day - this helps me understand the market and understand how to "run the numbers". My goal is to close on my first investment property this year, but at this point I am still in the beginning phase. I ultimately want to build a buy and hold portfolio, but I believe for my first few deals I'm leaning toward the idea of doing flips...thoughts on that game plan?

Best wishes,

-Justin