All Forum Posts by: Ryan Kunzmann

Here's an archived link to get around the WSJ paywall.

http://archive.is/1l2cx

@Gregory B. @Raquel D. Since the lease was signed by the son, the probate of the estate should not effect it at all. The only way it would is if the son just signed as a guarantor, but the way @Joel Florek stated it, it seems that the son is the primary leaseholder. Legally, the son is required to honor the remainder of the lease regardless of who occupied the unit and what happened. Morally, that's a whole different decision. 

Just saw this and was so happy, have a 7 hour drive from NYC to Pittsburgh today and this is perfect to help fill that time.

Not one of my purchases but a few years back when i was cleaning out hoarder houses for a local investor I found a brand new sewing and embroidery machine, looked it up and it was worth about $800. It made my mom very happy.

Just to give you an idea of what I was thinking, whipped this up in paint. Tile to the end of the wall shared with the bathroom then maybe throw a built-in bench with shoe/boot storage underneath against one of the walls. I would definitely only do this if I was looking to flip and sell the property, not rent out. Switch the new door to whatever wall is more convenient for coming in from the driveway.

Would you be able to find someone who would stage the property but also let you use their staging as a short term rental? I wouldn't think so, you would probably need to do monthly furniture rental. With an AirBnB/VRBO you would also need to fully furnish the property, kitchen utensils, pots, pans, bathroom and bedroom linens, all the small things. 

Seems like you could be adding a lot of headaches for a little gain. I would rather just focus on pushing through the renovations and getting it on the market ASAP.

Seems like it would work well as a mudroom, especially since the existing entryway doesn't have any mudroom functionality at all. Is it carpeted now or does it have tile/laminate/hardwood? You definitely do not want carpet if it is going to be a mudroom. I would also consider removing the wall separating it from living room, since the mudroom has so many windows it could really brighten up the living area while also opening the floor plan. 

I've been searching around for my first deal in the area and happened across a city owned property. I found it while I was researching an off market property that is right next door to it. It's in a neighborhood that is up and coming and there are already renovated properties as well as new construction within a few blocks. I'm considering purchasing the off market property as well as the city owned property next door. 

Does anyone have experience purchasing city-owned properties? How long is the process? How do they determine pricing? I've already looked over the application and it seems they favor buyers who have lived in Pittsburgh, which is good because I lived in the city for the past 3 years until just a few months ago. I would fully expect this property to be a gut rehab but this could be doable within budget if the city price is low enough.

@Stephen Kunen I looked through the events section but couldn't find any info on the Salanik meet up, do you a url or some info on it? Lehigh valley would definitely be doable on a weekend.

@Justin Brown I wish I was still in Pittsburgh so I could do a live-in flip, working from a distance is such a hindrance. I'll definitely take you up on that offer next time in the Allentown area.

@Kevin Schulz Thanks Kevin, that's definitely something I will consider. My older sister is already wants to get involved and she's a stay at home mom, so this was a section of the business I was considering having her learn. I already have exposure to a few different accounting programs for property managers so I have a little knowledge to get started on for that part.

@Rob Beardsley Hey Rob, I see you go to CMU, my girlfriend actually graduated from there a couple years ago and I went to Pitt myself. I also have a good friend working on his MS in Machine Learning there so we may have some mutual friends, I'll shoot you a message. I also believe in the Pittsburgh market,

I was fortunate enough in my last year at Pitt to interface with the Mayor, Chief of Staff and some councilmen in a small class setting. I also interviewed the CEO of the Pittsburgh Cultural Trust(One of the largest RE holders in Pittsburgh) one on one. Those experiences gave me a lot of insight into Pittsburgh behind the curtains and what it's future may hold.

I'm not looking just at SFR but it definitely peaks my interest more than other sources I've found so far, mainly because I can find and research everything remotely. I scour for MLS listings each day to see if any good opportunities pop up and I'm also slowly training my mother and sister to drive for dollars. I'd like to find a few good wholesalers in the area but I'm still pretty new on how to track them down. I'm pretty much just going through the motions right now to learn and prepare myself. I look for properties than I research them through country sites, maybe make a few phone calls. Really just trying to figure out all the due diligence I need to execute on each property before a purchase.