All Forum Posts by: Max Feinberg

@Kevin Dubina Did you already purchase this property? If so, what are current rents?

Hello All!

I am currently in the midst of my 3rd year in the Real Estate business, and my daily schedule is really starting to become quite busy. One of the things I continue to try and improve is my daily routine/blocking off certain times each day for prospecting, current clients, current deals, etc. Historically, organization has not been my greatest quality (to put it mildly), so I wanted to reach out to the BP community and see what agents here recommend.

I currently like to break my work schedule into 3 categories: service existing deals first, service active clients second, and then block of a good portion of my afternoon to prospect for additional business. This is the core of my day, but obviously there is time later in the afternoon for showings, personal time in the morning, etc.

My question to the BP realtor community is, "What are your daily routines/schedules?" 

Looking forward to hearing from you all!

Max

Hello Savannah! What area of town is this in? Feel free to PM me if you would like.

Hello Savannah!

Most of your analysis looks pretty good. I would say that you may be underestimating the appreciation in Troy Hill though...we are seeing quite a bit of investment in that area so I think there should be a decent appreciation moving forward.

Also, would you be using a PM company even if you will be living in the place? Hope all is well.

Max

@MD Alam it depends on the terms of the current lease and the quality of the tenant. Are the leases fair market value? Are they paying on time? Is there work that needs to be done on the property that will be hard to complete with tenants in place? There are many factors that should play into this decision

Hello! There are many wholesalers in the Pittsburgh area...some of which are more active/reliable than others. The best place to start is the Pittsburgh Wholesaling group on Facebook as many people post their deals there and you can scroll through and add yourself to the email lists of people posting their deals.

Hello Shreyasi! While I am definitely not against investing in places that you are not an expert in, I do believe that it would be nice to start in a city where you have some roots/knowledge. I am unfamiliar with the Vancouver market, but if it is possible to achieve your goals, I would recommend looking there first.

Having your parents in the Pittsburgh area could be advantageous as well. Long distance investing is all about having a good team in place and with proper due diligence I am confident you can achieve this in most cities!

Pittsburgh is a great market for cash flow properties! While you may not obtain the appreciation in Pittsburgh that you could in other cities such as Chicago and Orlando, Pittsburgh is a very stable market which makes it a great place to begin your investing career.

Hello! A lot of people have been high on Brighton Heights for some time now and as you mentioned it has not really blown up. I still think the cash flow in this neighborhood is very good and frankly that is what Pittsburgh investors should shoot for...cash flow as opposed to appreciation.

As far as development...there is a huge development in the works for the Manchester/Chateau area which is very close by. This will most likely help the home values of areas like Brighton Heights in the coming years. The project is called the Esplanade development and it is to include shops, restaurants, housing, and various activities. Give it a quick search...it is pretty cool!

@John Steffen Welcome to the BP community! You have definitely come to the right place to learn more about the world of real estate.

Sorry to hear the collegiate career is coming to an end! But it seems like you’re ready for the next chapter and real estate investing is an awesome choice. I think you are spot on about house hacking as your first investment. As a 22-23 year old you will be able to learn first hand what a real estate transaction looks like, what it takes to be a landlord, all while living for less or hopefully even free.

In the meantime, I’d recommend continuing your pursuit of knowledge by reading as much as possible and maybe even finding an investor who can teach you a thing or two in exchange for you helping them in some format. Nothing like learning from somebody who has already been there/done that.

Best of luck to you and feel free to reach out with any questions you may have! I’d be happy to help in any way I can.

Max