All Forum Posts by: Michael V.

Its hard to say how much is too much because the reality is you are coming out of pocket each month. I would make sure you are comfortable with the full payment amount. Once there is turnover you will need to cover everything and any additional maintenance costs. It sounds like you want the deal because you can assume the lower rate and you are expecting the property to keep appreciating. If there is no way to increase the rent to offset the loss I am not sure this makes sense, unless your W2 is insane and you have money to burn. 

Hi BP Community,

PM here in Pittsburgh Metro and the owners want to convert a duplex into a quad. I am being told that sprinklers will need to be installed as it will be a considered commercial beyond 2 units. Does anyone have any experience doing this or come across this requirement?

Unless the person that is giving you advice is an investor with a lot of experience, I would take it with a grain of salt. Everyone knows someone who had a bad experience so it means noone should invest. Stay positive, do your research and get around people that know what they are talking about. Good Luck either way

Congratulations Joey!!! Honestly, with the lower rates people took advantage of the past few years you can make really good returns overall. I would look for local meetups to see what a good strategy for your area is. I have a long term buy and hold person myself. #wealthiscreatedslowly

Good Morning Rich,

I apologize that I did not see this sooner, I have multiple emails from Bigger Pockets everyday and I missed it.  I just checked my schedule and I would love to attend.

If you are going to househack I would look in higher priced areas near the downtown area. The sales prices will be higher but if you're using a FHA to reduce the out of pocket you should be able to get a higher class property in a good neighborhood. If its close for commuting purposes, you can probably demand a higher rent. I am on the Western Side of PA, but that's my two cents.

Hello Everyone,

I was wondering if you have any meetings coming up in the next few weeks.  I live in Butler County and am interested in looking for properties around me.