All Forum Posts by: Matt Dingus

One beginner to another.... Probably not the best deal for your first one especially if you're not comfortable with structural issues. Could be a huge headache and leave you with a bad taste for investing in this asset class afterwards. If you feel it's too good of a deal to pass up then get a structural engineer (or someone who has dealt with these issues in the past) in there to give you their thoughts to maybe calm your worries. Otherwise be patient and wait for the opportunity you feel good about.

Hey Sydney - PV settlement is highly recommended among the PGH investment community. Not 100% they perform all the services you mentioned above.

Hi @Shlomi Bouganim! Congrats on taking your first steps to getting into the real estate game.

I run a meetup here in Pittsburgh where we have many people (investors, agents, contractors, etc.) come each month that would be able to provide you tremendous information in-person. Feel free to shoot me a message and I'll get you involved. Nonetheless, good luck on your journey!

Hey @Anthony Greco,

Firstly, congrats on taking the first steps of getting into RE Investing. 

I'd be curious as to what area of Pittsburgh this is in. But IMO this really comes down to the #s and also what you want to get out of this first deal (your goals). If what you need right now is to create some funds for yourself to then reinvest into more deals after this one, then you can go the flip route (taxed) or even research the BRRRR method where you can pull recyclable cash out (tax-free) and keep it as a rental. It depends on how much equity you'll be able to create with this deal. Also, I recommend trying to hold onto it as a rental (whether short-term or long-term) because you'll learn so much about property management/dealing with tenants during that time. Again, it really comes down to the #s and what strategy might make the most sense for you. Either way I wouldn't get caught up too much in what route you take, just do it and soak up the learning experience.

If you're looking to learn more from Pittsburgh local investors, agents, etc. I run a free Meetup group in the area and there are plenty of people that will help you out with this that have much more experience than I. Just PM me if interested and I'd also be happy to help you out with #'s. Good luck!

Remember what your objective/benefits are with house-hacking, and why it's so powerful....

1. You're able to use an owner occupant loan (low Down pmt) to purchase an investment property. Otherwise, this would be around a 20-25% down investment property.

2. You can significantly reduce your monthly living expenses when you factor in the rental income which in this case <$200 --- Most people shoot for "free" but I'd say this is a pretty nice score. 

3. You'll want to move out at some point and keep it as a rental property - so you should be analyzing this from both angles. You living there and you not living there; Sounds like it's a good buy either way.

Maybe some obvious remarks but....

- Make sure you factor in your estimated repair costs as that will impact your CoC.

- Factor in the increase in prop taxes in several months once they reassess at the new value. Which matters a lot now with how high prices are. 

- If both units are occupied, you'll have to ensure with your agent that you can jump right into one of the units. You'll want to understand what those current lease agreements are. 

**I'm unfamiliar with the BoA program

REPOSTING THIS, PLEASE READ :) 

Hi everyone - If you are interested in the Meetup please shoot me a private message along with your email address.

Thanks!

Matt

Hi everyone :) I tried keeping up with these posts of folks interested but they got away from me. If you are interested in the meetup please shoot me a private message along with your email address.

Thanks! 

Hi all! I think I've reached out to everyone that has replied here with interest in the meetup but please send me a DM if I missed you. Thanks!

@Walker Coggeshall @Aaron Parkan @Omar Mohamed @Sarah Weissman @Javonn Musgrove

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@Caitlin Jones @Matthew Schwersenska @Michael A Swidorsky @Nate Bringhurst

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