All Forum Posts by: Michael Wolffs

@Kesete Thompkins, I had looked at Uptown a while back, when I was thinking about opportunity zones.  I think it's on the map. 

For development, I was thinking further north, but his could work.  Thanks.

@Kesete Thompkins I wasn't thinking of the rougher areas.  I realize that the rents there won't support new development.

Particularly I was thinking about Lawrenceville.  It seems to be the "It" area in Pittsburgh.  I also think Bloomfield and Qakland would work also, trying to take advantage of UPMC expansion.  

Maybe this is out of date, but I see "missing teeth" lots on Google Maps that would seem very developable.  I'd need to track down the owners.  I'd be looking to build multifamily, so I'd have to find if the zoning is compatible.  But the biggest issue is would these type of deals pencil out, especially as rentals.  I'm trying to find anyone who has done this before in PGH, to get some boots on the ground experience.

I've bought four properties in Pittsburgh already. Noting in he core area of the city, and all older properties. I'd like to get properties in better areas more in play with the economic development (near the colleges and / or hospitals.  Thinking Lawrenceville, Greenfield, Squirrel Hill, maybe Oakland.  Finding properties in these areas hasn't been easy.  Little inventory and high prices compared to rents.

However, thanks to Pittsburgh's post industrial wasteland days, some of these areas have a number of empty infill lots that look somewhat prime for development.  But I've never done this before, and am not local.  Has Pittsburgh come back enough that developing new multifamily rental properties makes sense.  Is the city friendly to this?  In general do the numbers work to the point where it makes sense?  Has anyone here built multifamily in Pittsburgh?

Any help appreciated.

I've been working with Standard Bank.  They seem to want the business.

@Anand S. Riva Ridge Real Estate Services - Aaron Bubenheim.

So far, so good.

I'm thinking about setting up an opportunity zone fund.  This is still pretty new.  There's some talk about it, but I don't know how many actually exist at this point.  So has anyone actually done it, and what has their experience been to date?

I need to replace a property manager who's leaving the business.  I've been looking at three companies.  I've been talking to the references they've supplied.  But I'd like some independent input, and was hoping that people where might have had some experience.  The companies and the manager in question are listed below:

W J Kellar Real Estate Services - Kimberly Bradley

Riva Ridge Real Estate Services - Aaron Bubenheim

The Full House - Dustin Nuff

If you've worked with any of these companies, please let me know what your experience has been. This would be for small multi-family buildings.

Thanks

I have a multi-unit building.  I'd like to have a database system where tenant repair requests, and other work order types can be entered.  These tasks could then be  assigned to workers.  These workers could track their tasks on the system, update them as they are worked on, and close them when done.   Reports could be generated showing task in progress and various statistics.  Preferably this system would be cloud hosted, and accessible on the web and device apps.

I know this has to exist.  Does anyone use anything like this, and could give me the name of such a system?  Any help appreciated.

@Paresh P.Thanks.  The link got a bit crunched, but I was able to find the document. 

To follow up, I called the city clerk's office, and asked them about this.  For more than two units, as long as I've done the registration/inspection with the state (what used to be the green card process), I'm good.  One or two unit rentals need to be registered with the city.

I think this puts this question to bed.  Thanks.

@Patrick M.I might try other banks.  I live in NYC.  I don't think there's a requirement that the bank be in NJ, so I might try some here.