All Forum Posts by: Jeff Siebert

Any thoughts on buying low/renting long in Pittsburgh, PA area...am thinking 50-75k (or less) homes in relatively stable, blue-collar-ish neighborhoods. Realize the population has been on a steady decline for several years, young people tend to leave for cities with more job opportunities, crime in several area's. Despite this, have a gut-instinct that it might be a good place to invest in for cash-flow....realize appreciation is minimal. If not Pittsburgh, any thoughts on Cleveland or Cincinnati? Thanks.

Thanks Mike. I've reviewed the 50-2 guidelines and seen your comments about looking for properties with 30% or more equity built-in. Interesting data and really forces you to look for sensible deals.

Had seen some other posts that recommended 6-12 months in reserves (separate from initial rehab and ongoing maintenance). Is this in addition to the 50-2 guidelines?

Have a 10+ year job w/ a pretty good salary, good credit, but am lacking capital (5k in cash and about 50k in a 401k). Have been wanting to start accumulating low-cost properties (50-75k) that can be paid off within 10-15 years, but am wondering if I should wait to build up more cash for down payments, repairs, vacancies, etc.

If I were to start now would owner-financed/land sale homes be an okay option to start? Saw some that have small down payments and low monthly payments.

Really don't know where/when/how to start. Appreciate any feedback. Thanks.