All Forum Posts by: Kevin Wilson

@Odie Ayaga thanks for the advice!

Ok I should clarify. I have one prior successful rental through conventional financing. I get sellers want to know where money is coming from but it seems when I have contacted hard money lenders they want specifics about the property which also makes sense, so do you have your hard money lender look at every place you want to offer on? 

I’m brand new to Hard Money. I understand the concept and want to use it for my next deal to better learn the ins and outs. My first question is do I need to have a property under contract before applying? Or can I find a hard money lender to pre-qualify with in advance during my deal analysis phase?

@Brandon M. Thanks! Cool if I connect and bounce some questions off you?

Looking for general contractors to work with in St. Pete Florida. Referrals welcome!

@Parker Eberhard Surprisingly, Homestead/Munhall is where my realtor invests and suggested I look but of course with the house by house and street by street caveat due to the concerns you brought up.  My home I am currently rehabbing is in Lincoln Place, just south. 

@Paul Mutch Hi Paul, posting this before reading any of the other replies but here is my take so far....I just purchased my very first investment property in Pittsburgh a few months ago.  I'm from California and only visited Pittsburgh once about 15 years ago and loved the city.  Like you I was reading and hearing good things about the market.  I know a lot of people don't like rust belt for a variety of reasons but I personally see no reason for a city like Pittsburgh to wither up and die, lots of schools, industry, sports teams, fortune 500, etc. that being said i'm sure it will ebb and flow.  I am doing a rehab on the property right now and don't have it rented but if my numbers work out, it should do well for me.  Best of luck to you.

@Naveen Desai.  I was looking at many markets initially outside CA that seemed affordable. I was on some turnkey sites like Roofstock, seeing where those types of sites had rentals/properties for sale.  Pittsburgh was there and was a little lower on my radar initially but I did read some good stuff about the market.  My wife lived in Erie ad said she had a friend who was a realtor in Pittsburgh so she made the connection.  That made the process a lot more appealing then some of the other markets for me personally because of the personal connection and the fact that the realtor and her fiance were also investing in the area.  That contact led to more contacts and it just kind of streamlined itself.  

@Shannon Lydon I bought my first REI a few months ago and finished my first Real Estate Agent course and plan on completing my second in spring so I'm kind of in the same boat. I think the information has been helpful. I feel like the more you can understand about real estate only strengthens you as an investor. That being said I agree with you on actually getting and maintaining your license if you don't plan to sell or help people buy. The benefit I would see is the potential to get referral fees and if you are investing locally you can reduce agent fees and that is money back in your pocket. Kind of like property management some people out source it and some do it themselves, just depends on what it's worth to you.

@Rosendo Perez I live in California and just bought my first REI in Pittsburgh. The numbers seem to work, I am still in my rehab stage and yet to get rented but assuming it rents for the estimates I have received It will be a good market for me.