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All Forum Posts by: Suchin Mundkur

Suchin Mundkur has started 2 posts and replied 20 times.

Post: New aspiring RE investor in Pittsburgh PA!

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7

Hey Eric, welcome to the world of real estate investing. Hopefully by now, you have had some good luck with Pittsburgh as its a great market and I am an out of state investor there. Folks here have given you a lot of great information and tips. They key is to build relationships with people in the area. I have driven to the quarterly events mentioned by Alex and they are a great way to meet a lot of amazing people. In addition, I have spent weekends up there to learn about the different neighborhoods, etc. I am more than happy to connect and have a conversation to talk about my journey and share things I have learnt over the past couple of years. 

Post: Pittsburgh Agents and Wholesalers

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7
Quote from @Jen Kurtz:

Amy,

I plan to be the person you are looking for in 5-10 years. I am three years involved in the Youngstown Ohio area, and while I love Pittsburgh (have previously lived there and will be returning), that is the market I love and look forward to being in!! I hope to run into you down the road :)


 Hi Amy, are you still in the Pittsburgh market? How was the journey over the past ten years or so? I am an out of state investor in Pittsburgh and was curious to hear about your journey thus far.

Post: Pittsburgh Agents and Wholesalers

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7
Quote from @Trent Burns:

Hi Amy, my name is Trent and I own a company that buys houses https://www.gorillaridge.com, and I come across properties that I would be glad to send your way when we dispo them. I am also a licensed real estate agent in PA and would be able to help you out buying properties on the market. Let me know if you need any help.


 Hey Trent, what areas do you focus on?

Post: Selling Duplex in Pittsburgh

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7
Quote from @Bryan Morell:
Quote from @Hope Harmotto:

interested - can you share details?  


https://www.zillow.com/homedetails/5227-Clarwin-Ave-Pittsbur...

 Did you sell it? It looks like you delisted it.

Post: Starting out, interested in multi family

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7
Quote from @Shaheen Ahmed:

Hi All,

I am interested in multi family (2-4 units), If you have 200k to invest, what market and why would you invest?\

Thanks,

Shaheen, I have invested in the Pittsburgh market thus far for and own 3 properties (7 doors). I primarily chose that market because it offers cash flow and in certain areas appreciation as well. Reach out if you want to connect and I will be more than happy to share my journey in more detail.

Post: Starting out, interested in multi family

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7
Quote from @Jimmy Lieu:
Quote from @Shaheen Ahmed:

Hi All,

I am interested in multi family (2-4 units), If you have 200k to invest, what market and why would you invest?\

Thanks,

I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here! Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc. On top of that, you have one of the biggest and best universities in the world here with Ohio State University. The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here. On top of that, you get great appreciation and very landlord friendly laws. Tons of investors are buying Columbus up! As an investor and agent here, let me know if you have any questions or want to connect

 Jimmy, I would love to connect and talk more about the Columbus market. I will send you a connection. I am primarily focused in the Pittsburgh market for now, but looking to add another market soon.

thanks

Suchin

Post: Roth IRA Real Estate investment

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7

@Dmitriy Fomichenko, oh I was under the impression the LLC had to have a minimum income generated before you can contribute. So for example, if I did not have any income in year 1 of starting the business, I could not contribute.

Post: Roth IRA Real Estate investment

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7
Quote from @Dmitriy Fomichenko:

@Misook Foley

Here is a list of non-recourse lenders:

https://www.biggerpockets.com/...

Since you flip properties you are considered self-employed and therefore will qualify for self-directed Solo 401k. Consider this vehicle instead as it has several major advantages over SD IRA. They include exempt from UBIT tax on leveraged real estate, contribution limits 10X of an IRA, no custodian = checkbook control and more.


 what are the income limits to be able to contribute to a Solo 401K?

Post: Do you have any recent Real Estate Success Stories?

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7
Quote from @Alex Deacon:

Just purchased a 4 unit and duplex in a great neighborhood in the Pittsburgh market. Our efforts to find deals is finally coming to fruition. we can then sell some of them and leave some equity for the next buyer and keep some of them for our own portfolio.

 What areas of Pittsburgh are these properties in?

Post: Looking to Connect With Members In Pittsburgh, PA!

Suchin Mundkur
Posted
  • Rental Property Investor
  • Ashburn, VA
  • Posts 24
  • Votes 7

Hey @Cole Young, Welcome to the community!! I am relatively new to the Pittsburgh market as well. After a brief pause, I currently have two properties under contract and also looking to connect with folks in the area. 

Suchin