All Forum Posts by: Jeremy Taggart

@Emily Paul would you be living in the new property for less than a year? I would say go the owner occupant loan route to get into something for 3.5-5% down instead of 20-25% that you'd need with an investor loan, but those require you to live in the property for a year before you could rent it out.

Airbnb could be appealing also since you'd already be furnishing the place for yourself, could just leave the furniture there after you'd move out. And could keep it as a place in the city if you ever wanted to stay there. 

@Bagus A. if it isn't a crazy amount of water usually just putting a dehumidifer down there will do the trick. Otherwise an exterior french drain will be a cheaper option than interior. I would also check to make sure the gutters/downspouts are all working properly outside. Sometimes that is the main culprit for water and is an easy fix. That and the potential sloping of the yard outside sometimes needs re graded to help stop any water from getting in. Pretty common to get some sort of water in the basements in Pittsburgh though. 

@Alec Jacobs don't overthink it. Beaver County has better rent/price ratios than Allegheny so you should be able to find a 3-4 unit there where you are cash flowing even in today's market. Take advantage of being in your early 20s and do as many house hacks as you can. Longer you wait to get the first one the fewer you will be able to purchase. I've done 7 house hacks and I could have only done that and been set for life. You don't have to hit a home run with those because of the financing the main thing is just taking advantage of it early and often IMO.

@Daniela Beck Lawrenceville be tough under 200k unless you are good with a fixer. Troy Hill and Millvale can work for Airbnb since they are a little cheaper but still good demand given their location. I'd say if you can get a duplex in the 200's where you are doing airbnb in both units that would give you the best shot at cash flowing where you want it to. Single family can work too if you get it low enough. You can get a single family in either of those neighborhoods 100-200k but might be worth it to go a little higher in price to get 2 units as far as cash flow goes. 

@Aj Escomiendo Investing in the Pittsburgh market has made me a lot of $$$ I can at least say that much haha

@Robert Lee feel free to PM me the info on the deal or post on here glad to chime in on if it has potential or not. Also have contractor connections if you wanted to get a bid on the rehab cost. 

@Konstantin Ginzburg great rental demand there obviously, but the rent/price ratios aren't the greatest in Shadyside and Squirrel Hill. Has gotten pricey there. You'll have to put quite a bit down to have positive cash flow from day 1 in either of those areas. Decent amount of other areas close to the universities though that could work outside of the expensive areas. 10-20 unit is a good space. Big enough to not have to compete with house hackers/newer investors in the 2-4 unit space, but small enough where you aren't competing with institutional money. 

@Adam Guy You can break the rehab down into components and front load a lot of that. Not a full on cost seg but deduct more than you would by capitalizing the whole rehab. Not sure if you are able to do this without being a RE professional though but that'd be a CPA questions.

As for the IRA there are a lot of factors that go into that especially if you are doing an early withdrawal. Typically have to pay income tax and a penalty on that if you are pulling it early from a traditional account. If you work a w2 job you won't have RE professional status also so you can only deduct so much against your active income.

I use Matt Stevans CPA in Crafton if you want someone local. They work with quite a few local RE investors so know that side of it. Can look him up on Google if you want to reach out to him. 

@Oscar Garcia I use Matt Stevans CPA in Crafton have been happy with them they work with quite a few RE investors here

@Cory St. Esprit I own a decent amount of units in Beaver County. Their ACRE group is pretty good I believe. Haven't been there in a bit myself though.