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All Forum Posts by: Kadia Lawrence

Kadia Lawrence has started 19 posts and replied 58 times.

Post: Do you write off Car purchase under your RE LLC?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15
Quote from @Bjorn Ahlblad:

So far We have been writing up the miles and doing it that way. The LLC has ordered a vehicle but it has not been delivered yet. We will absorb the personal use portion.


Thanks!! What do you mean you will absorb the peronal use portion? ARe you writng up miles for your current personal vehicle that was not purchased through your LLC?

Post: Do you write off Car purchase under your RE LLC?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15

Hi Everyone,

I am about to purchase a car and will be using it for both personal use (e.g., grocery shopping, gym, etc) and definitely for RE business (scouting neighborhoods, seeing listings, visiting properties for maintenance/ tenant issues). Have you generally bought a car under your LLC holding or operating LLC? If not what write off opportunities have you used? I was thinking along the lines of tracking my travel time when doing RE business and tracking miles and then writing off gas bills? Any thoughts appreciated

Post: Thoughts? WREIN, Open Spaces or other courses?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15
Quote from @Kathy Leach:
Quote from @Rose Mary King:

Hi Kadia. 

I just finished the Masterclass, and decided to do the mentorship as well. I don't know about open spaces, but I can say that Wrein is actually the first to totally grab my attention. I have been to several n person events, and watched several webinars. you tube, etc.  Most are focused on 1 thing. I loved that they talked about so many different strategies and so detailed. I got so much new information out of the class that I haven't heard anywhere else.  If you can get that much information out of a $17 week long class. I can only imagine the year long mentorship.  I have never paid more than a few hundred dollars for any type of class, either because I wasn't motivated by the speaker, or didn't feel I could learn more from it. Or maybe I wasn't ready yet.  I'm going for it. I feel confident that I will learn, and succeed with this mentorship, and make more than 10X what I invested.  I say go with your gut feeling.  #1mil$by2024.  


 Hi Kadia!  So I see your post was about a month ago.  How is your mentorship going?  I'm considering it but need feedback from others first.


 HI Kathy, I haven't tried WREIN so can't opine on it.

Post: Pros and Cons of Section 8 in Clairton

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15

Hi All,

Wondering your thoughts on pros and cons for accepting section 8 generally and specifically in Clairton? For any cons, are there risk mitigating factors and enhanced screening criteria that help?

Thanks much!

Post: Robust and renter friendly Prop Mgmt apps?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15

Hi,

What are your recommendations for robust apps to manage a single family or small (1 to 4 door) multifamily property?  Looking for apps that are good at listing, screening, collecting payments/ rents, collecting and tracking maintenance requests and generally have portals for your resident/ client.  In particularly, looking for recommendations for apps that are super easy for tenants/ clients to use for payments and maintence issues and may even have portals for them to look up and store information, etc.  Have heard good things about rentredi.com.  Others?

Post: Best B/C areas for cashflow or BRRR in Pittsburgh?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15
Quote from @Jim K.:
Quote from @Kadia Lawrence:
Quote from @Jim K.:

@Kadia Lawrence

Hi, Kadia. This is perhaps the biggest problem for out-of-state investors to deal with in the Pittsburgh area. Everyone knows that Pittsburgh is "The City of Bridges." Few really think about what that means in a practical sense. The geography of the area is hopeless convoluted, the land is crisscrossed by ravines and gullies that separate one neighborhood from another haphazardly. By official count, there are over 90 distinct City of Pittsburgh neighborhoods. Go further and it just gets more hopeless. In Allegheny County, there are over 100 separate municipalities, and the organization of these boroughs and townships defies any sort of pretzel logic.

There are four examples that I typically use: the first is the Homestead/Munhall area, where I live and invest. I live just off West Street, which does not actually go west. Across the street is West Field, which is not really west of anything. And beyond that is West Homestead, technically to the west of Homestead, but which is sandwiched between Homestead and, much further west, New Homestead. That is because the "West" in these three entities does not refer to the cardinal direction, but to the West family, which used to own much of Munhall, Homestead, and West Homestead.

If we go a bit further afield in Allegheny County for our second example, we can examine the largish municipality of West Mifflin. There is no East Mifflin. The borough of Mifflin is halfway across the Commonwealth in Juniata County. To top off the wackiness, there's also a Mifflin County, and it's also in the middle of Pennsylvania.

The third example is McKees Rocks and McKeesport, at different ends of the county. They're actually named after two different, only distantly-related McKees.

But the best example of the glorious confusion that is our grand county of Allegheny are the municipalities of Versailles, North Versailles, and South Versailles. Not only are their names not pronounced like the French palace and its famed gardens, THEY DO NOT SHARE A COMMON BORDER.

As I said before, I invest in the Homestead/Munhall area. I have literally read books on the area. I have been in the Pittsburgh area for sixteen years. I cannot give you really worthwhile advice on almost any other part of the county. Real estate agents will talk with great certainty about what they know and don't know, but that flimflam comes with the job, so take it all with a giant pinch of salt. There are many inhabitants of the municipalities of the boroughs north of Pittsburgh who will capriciously refuse to do business with anyone south of the Allegheny and Ohio Rivers. Down here in the Steel Valley, if you don't have ancestors who worked steel or burned coal back in the day, you're going to be out of luck with a lot of the local real estate agents and municipal building code inspectors.

Allegheny County is the Fifth Judicial District of Pennsylvania. There are 46 magisterial district courts in this county, each with its own elected magisterial judge, who has her/his own preferences in how they want their courts run. Show me an agent or a property manager who says they knows how to do well with all the local eviction courts in this county, it doesn't matter who, and I'll show you a damned liar.

Your best bet is to move here, really. There are much easier cities to invest in from out-of-state, however tempting the numbers might look. Nobody knows everything there is to know about what's going on in Greater Pittsburgh (which include the five counties around Allegheny County) whatever confident lies and big-talk they sling at you to get your business.


 Wow, what a thorough and insightful response Jim, thank you! I totally hear you and am encountering that for sure. A lot more variables to consider. I already got a sense with the closing about different rules for different municipalities. I think the key for me is to determine which variables matter most to me as an investor and more over, to potential renters. May I ask pros and cons of Homestead/ Munhall for you?

The short answer is that the area is easily in the conversation of the top three historically most complicated and geographically most convoluted urban areas of Allegheny County. It's exactly the sort of area where the local investor can do best in. 


 I can see that, thanks again!

Post: Best B/C areas for cashflow or BRRR in Pittsburgh?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15
Quote from @Jeremy Taggart:

@Kadia Lawrence I would say the most "sure bet" areas right now that have the most upside are the areas that directly border the East End neighborhoods of the city. Spillover effect is starting to happen albeit it still pretty early. Most of the East End neighborhoods closest to the hospitals and universities won't cash flow as long term rentals anymore and are starting to become unaffordable for owner occupants as well so it's spreading outwards. Same with the neighborhoods directly bordering downtown on the North and South. 

I think the areas that aren't currently high crime or too run down will stand the best chance because they will attract owner occupants which drive appreciation. So for example right across the river like Troy Hill, Millvale, Etna, Sharpsburg. Or just across Interstate 376 on the other side like Greenfield and better parts of Homestead/Munhall, Swissvale, and Wilkinsburg. 

The high crime/more run down areas are more of a wild card for example Homewood, Lincoln/Larimer, and the not so nice parts of Wilkinsurg or Swissvale. Potential for sure long term but riskier getting into right now and will likely have to deal with management headaches for the next 5-10 years until/if they would start to turn.  

I also like neighborhoods along route 65 like Brighton Heights, Bellevue, and Avalon. Along with southern neighborhoods like Beechview and Brookline. Carrick has started hitting it's stride in the south as well. I don't think those areas will see massive appreciation but do have good upside going forward as they've already start gaining pretty good traction as a result of the top tier neighborhoods closer to the city on the North and South getting expensive at this point. 

West is still the most affordable section of the city that I think will benefit the most if Pittsburgh were to go thru mass gentrification but that's more of a toss up right now IMO. Most everything stems from the East.

I am also a fan of areas close to either Cranberry Township or near the Airport/Robinson Towship. South Fayette/Bridgeville area as well along interstate 79. Tons of development going on there so it's also starting to benefit residential real estate located near there as well outside the city.  


 Thanks Jeremy!!  Great analysis. Hmmm...I haven't considered the areas near the airport or Bridgeville as much but am considering all of the others you mentioned.  It was starting to get a bit overwhelming to determine where next (and whether all or to ideally concentrate within a few).  Your anlaysis is very helpful in bucketing them, thank you!  I just want to clarify where you say areas bordering East End neighborhoods if you are talking about East Liberty and then referring to potential spillovers into the wild card areas of Lincoln/ Larimer and Homewood? Thanks!

Post: Best B/C areas for cashflow or BRRR in Pittsburgh?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15
Quote from @Jim K.:

@Kadia Lawrence

Hi, Kadia. This is perhaps the biggest problem for out-of-state investors to deal with in the Pittsburgh area. Everyone knows that Pittsburgh is "The City of Bridges." Few really think about what that means in a practical sense. The geography of the area is hopeless convoluted, the land is crisscrossed by ravines and gullies that separate one neighborhood from another haphazardly. By official count, there are over 90 distinct City of Pittsburgh neighborhoods. Go further and it just gets more hopeless. In Allegheny County, there are over 100 separate municipalities, and the organization of these boroughs and townships defies any sort of pretzel logic.

There are four examples that I typically use: the first is the Homestead/Munhall area, where I live and invest. I live just off West Street, which does not actually go west. Across the street is West Field, which is not really west of anything. And beyond that is West Homestead, technically to the west of Homestead, but which is sandwiched between Homestead and, much further west, New Homestead. That is because the "West" in these three entities does not refer to the cardinal direction, but to the West family, which used to own much of Munhall, Homestead, and West Homestead.

If we go a bit further afield in Allegheny County for our second example, we can examine the largish municipality of West Mifflin. There is no East Mifflin. The borough of Mifflin is halfway across the Commonwealth in Juniata County. To top off the wackiness, there's also a Mifflin County, and it's also in the middle of Pennsylvania.

The third example is McKees Rocks and McKeesport, at different ends of the county. They're actually named after two different, only distantly-related McKees.

But the best example of the glorious confusion that is our grand county of Allegheny are the municipalities of Versailles, North Versailles, and South Versailles. Not only are their names not pronounced like the French palace and its famed gardens, THEY DO NOT SHARE A COMMON BORDER.

As I said before, I invest in the Homestead/Munhall area. I have literally read books on the area. I have been in the Pittsburgh area for sixteen years. I cannot give you really worthwhile advice on almost any other part of the county. Real estate agents will talk with great certainty about what they know and don't know, but that flimflam comes with the job, so take it all with a giant pinch of salt. There are many inhabitants of the municipalities of the boroughs north of Pittsburgh who will capriciously refuse to do business with anyone south of the Allegheny and Ohio Rivers. Down here in the Steel Valley, if you don't have ancestors who worked steel or burned coal back in the day, you're going to be out of luck with a lot of the local real estate agents and municipal building code inspectors.

Allegheny County is the Fifth Judicial District of Pennsylvania. There are 46 magisterial district courts in this county, each with its own elected magisterial judge, who has her/his own preferences in how they want their courts run. Show me an agent or a property manager who says they knows how to do well with all the local eviction courts in this county, it doesn't matter who, and I'll show you a damned liar.

Your best bet is to move here, really. There are much easier cities to invest in from out-of-state, however tempting the numbers might look. Nobody knows everything there is to know about what's going on in Greater Pittsburgh (which include the five counties around Allegheny County) whatever confident lies and big-talk they sling at you to get your business.


 Wow, what a thorough and insightful response Jim, thank you! I totally hear you and am encountering that for sure. A lot more variables to consider. I already got a sense with the closing about different rules for different municipalities. I think the key for me is to determine which variables matter most to me as an investor and more over, to potential renters. May I ask pros and cons of Homestead/ Munhall for you?

Post: Best B/C areas for cashflow or BRRR in Pittsburgh?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15

Hi all,

Please pardon the dupe from the Local Pittsburgh forum -- wasn't sure the best place to post. I am a new investor in Pittsburgh from out of state. (I am closing on a triplex for cashflow shortly.) I'm looking to get a sense of the latest thoughts on 1) the best B or C (even C-) areas for cashflow, 2) thoughts on up and coming areas that still have cashflow opportunities and future appreciation prospects and 3) opportunities for BRRRR. I am narrowing down my list and trying to categorize neighbords into B or C and also up and coming. Have been researching areas like Homestead, Munhall, Swissvale, Braddock, Rankin, some on north side like Bellevue, Avalon, also Millvale, Etna or in the other direction, Penn Hills. Also curious about Wilkinsburg and how Lincoln-Lemington Belmar is viewed relative to areas closer to East Liberty. I really like areas such as Dormont, Mount Washington but wonder if that would be catching lightening in a bottle. It's early so am open to thoughts...

thanks in advance

Post: Best B/C areas for cashflow or BRRR in Pittsburgh?

Kadia Lawrence
Posted
  • Posts 58
  • Votes 15

Hi all,

I am a new investor in Pittsburgh from out of state (closing on a triplex for cashflow shortly). I'm looking to get a sense of the latest thoughts on 1) the best B or C (even C-) areas for cashflow, 2) thoughts on up and coming areas that still have cashflow opportunities and future appreciation prospects and 3) opportunities for BRRRR. I am narrowing down my list and trying to categorize neighbords into B or C and also up and coming. Have been researching areas like Homestead, Munhall, Swissvale, Braddock, Rankin, some on north side like Bellevue, Avalon, also Millvale, Etna or in the other direction, Penn Hills. Also curious about Wilkinsburg and how Lincoln-Lemington Belmar is viewed relative to areas closer to East Liberty. I really like areas such as Dormont, Mount Washington but wonder if that would be catching lightening in a bottle. It's early so am open to thoughts...