All Forum Posts by: Jeremy Taggart

@Brent Geubtner I second @Nicholas L. that meetup is solid but in the city. Real informal just networking. I used to go to Beaver County ACRE back when I lived in Beaver County it was a pretty good group probably worth looking into. 

@Cory St. Esprit Is this in downtown Beaver Falls? Unfurnished market rent for 2BR in downtown Beaver Falls I would say is closer to $700-$800. Furnished might get you a bit more but I'm not sure how much demand there is there for furnished with it being further up. 

If it's furnished might want to consider airbnb or furnished finder maybe get folks that are traveling since it's right off the turnpike exit there in Beaver Falls.

@Sasha Josephs Plenty of run down homes with margins to flip. You can buy homes as cheap as $20k depending on the neighborhood. Most flip deals will have purchase prices of $50-$150k, and rehabs running $40k-$150k depending on the scope of work. I tend to prefer to stay close to the median price point of about $225-$250k so you have enough margin for error on the rehab and greatest number of end buyers.

@Alec Jacobs if you want to post the details on the property or DM them to me I can let you know if it's worth buying or not. I own quite a few units in Ambridge and know the town like the back of my hand.

ARV's aren't super high there though so 20k over appraisal I am likely to say that's not worth pursuing for a multitude of reasons but I can elaborate more knowing the actual details of the property itself.

@Andrew Marino is this a new purchase or something you already own and you are just looking for someone to fund the rehab?

@Momar Mbengue Pittsburgh is a good market. Nice blend of cash flow and steady appreciation. Pretty good amount of multi family properties. Multi family you can get as low as 50k/unit for something decent. 50-125k/unit is the general range for prices to still have positive cash flow from day 1 with your typical 20-25% down payment. 1-1.5% rent/price ratio in most cases. 

@Jaya Laun just looking at your numbers, you are light on maintenance/capex. For a triplex built in the early 1900's (I'm assuming if it's in the city) in a lower income neighborhood, you should likely be at least $250 for both maintenance and capex per month. Right now you are only at $125/month for maintenance and no capex. Property taxes could also go up closer to $2,000/month if they were to re assess after the sale. Insurance likely will be higher than $1,020/month nowadays but depends on your coverage and who you go with. 

I would also maybe do some more due diligence on the neighborhood because it seems like you are a bit unsure of that. Being out of state if it's a management intensive neighborhood you are going to have a tough time with getting a property manager to give good service there if it's too rough. I tend to prefer the nicer pockets of the lower income neighborhoods to have the best success there especially if you are out of state.

@Dan Camp my team does leasing for clients if you need help with that feel free to reach out. 

@Andrew Rothman Anything can be fixed with the right amount of money, but there tends to be a stigma with those even after fixing. A lot of homeowners will get scared away and it tends to decrease the value of the home if there's anything foundation related in general. I tend to stay away personally, maybe unless it was a huge margin deal. 

@Emily Paul here the best places for short term would be on the East End by the universities and hospitals, North Shore by the sports stadiums/AGH, or right across the river from Downtown/Oakland like South Side and Mt. Washington closest to Grandview Ave. Once you get outside of those areas is where occupancy would likely be a lot lower since Pittsburgh isn't necessarily a "destination spot" compared to some other cities.