All Forum Posts by: Michelle Mapp

Welcome Alan,  

Hi. I am in Pasadena as well and right now I invest in PA. Happy to connect. Also, check out FIBI Pasadena, the LA REIA which holds meetings in Arcadia and the Invest Club for Women in Glendale (men are welcome at speakers and events)

 I believe there is another group as well, that @Timothy Ryan might know more about where you can go visit actual flips and projects they are working on.  I have not been ale to make it to those due to scheduling but it sounds interesting.  

Michelle 

Welcome John and Michelle,  

I would second Nabil's recommendation on LAREIA and FIBI Pasadena and add the Invest Club for Women (men are allowed),  who alternate between meetings in Irvine and ones in Glendale.  Each one has its own style, approach and they bring in a range of speakers.  Not to mention all the leaders are excellent and know what they are doing.  Lots of opportunities to learn and meet people.  

Michelle 

Jama,  

Welcome to BP.  You may be interested in checking out FIBI Pasadena, a local real estate club/meeting/education event.  This month's meeting is tonight and you can find details on meetup.com.  

Michelle 

@Trevor Scott

There are quite a few out of state folks who invest in the Pittsburgh are so keep us up to date on your progress and what you end up doing.   You may find some good connections of people who want to buy your homes for investment purposes.  

Michelle 

Mike, 

I live in North East Pasadena (with kids) and I am happy to chat with you on the area and my experiences in Pasadena.  I have lived in three diff areas of Pasadena so I am happy to share that perspective.  I can't speak to the other neighborhoods as I just don't know them.   

Also, for your research check out the crime maps on the real estate apps.  If I remember right Trulia had a good one.  Also, check citydata.com as you can get really really detailed information.  We moved to CA from MD so looking at crime heat maps and data was critical.    

Also, you can compare it to the South Pas maps as you will see South Pas has higher crime areas along the store fronts (mission, Fair Oaks, etc.) and you can compare where you currently live to the other areas.  

Private message me and I happy to have a phone conversation.  

Michelle 

Ian,  

Thanks this was very helpful as I had not heard of a dye test!  I got to talk to the code office today and was able to ask better questions!  

Thanks

Michelle 

Anyone have any experience with Occupancy Permits in Bellevue, Pittsburgh PA.  What's involved?  Do they interior and exterior inspections?  If the Borough has issues what is general turnaround time to get them fixed?  

I would love to hear some experiences as I like to know what to expect.   Not too worried about it but will be first property in Bellevue so its new to me.  

Michelle 

Rich,  

Hi!  I am also in So Cal so I hear you on it being a high barrier to entry.  So, here are some thoughts on your room.  

Are you interested in short or long term rental (guests or someone who you live with on an ongoing basis)?  Really think about it from a personal perspective - do you like meeting travelers?  Or does the idea of strangers coming for a week sound less than ideal.  

If you are open to both, do some research into your local part of LA to compare the numbers between short and long term rentals.  Break out excel and see what works for you.  For year leases, obviously there are all the standard ways like Zillow, Trulia, Craigslist and Rentometer.  

For short term rentals see if you can find a vacation rental management company to call to get some info on occupancy rates and the ebbs and flows of the market.  I did this for Pasadena and was very surprised by the data.  Also, find some other folks doing short term rentals and talk to them.  From some of the folks I have talked to, LA and its surrounds are great as you often get people in town who need rentals for say  3 to 6 months as they are working on particular projects or on assignment.  These are great as the rates for furnished rentals are much higher.   Obviously there is some more work with the higher turnover but depending on your situation it could be worth it.   You can also always outsource that part as well.  

Once you decide on the path, then you can look at best practices for that particular approach in terms of pricing, screening tenants, security, etc.  Good luck!  

Welcome to BP and good luck with getting started! I see you are over in the Inland Empire, make sure to find the local REIA. I think the Inland Empire Real Estate Investment Club is supposed to be good. There are plenty in the whole area so network, talk get people's input and you will find your path.

Michelle 

Welcome to BP!  You will learn a lot here both from the forums and just listening to the podcast.  Ask questions!  Also, you are in a great place to be able to start investing.  Pittsburgh is a great town.  

Michelle