All Forum Posts by: Anthony Angotti
Anthony Angotti has started 64 posts and replied 1482 times.
Post: Investing in triple net properties
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Originally posted by @John Michael Mattingly:
I have 6 residential units and would Like to transition into the commercial real estate world. Preferably triple net properties. I've read that you have to have 30-40% down for a NNN property. Is there anyways around this if you lack capital? Can somebody help me transition in to the commercial side of real estate? And advice would be great!
Where are you located? Finding someone in your local area you can build a relationship would be ideal
Post: Pa section 8 anyone an expert?
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Originally posted by @Kevin Miller:
Hello, I'm looking for information on laws/how to get set up with section 8 in PA.
also, if you have any good (or bad) stories I'd love to read them.
The tenants aren't bad if you screen appropriately.
The inspections can be a nightmare. We've fixed everything on their list before to have them come back and see all of those items fixed and add new things before approval. Then do it again and have new things come up the next time.
This has happened to me multiple times and only 3 of my 100+ units are section 8. And only because I inherited those tenants...... the inspections are what makes me not want to do section 8. I also maintain my buildings pretty well compared to most area landlords. They don't find much, but the constant moving the goalposts is a mess.
Post: First Investment Property
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Originally posted by @Kyle Flamm:
Investment Info:
Single-family residence buy & hold investment in Murfreesboro.
Purchase price: $184,900
Cash invested: $10,000
This property is a 3 Bed/2 Bath single family residence that we acquired for $185K in 2018. We bought the home to be our first home and quickly decided to house hack. We have since stopped house hacking the property in the past year and focused on improving the home. New kitchen floors, cabinets and appliances, enclosed the garage and new roof. With the appreciation over the past 3 years we have been able to ReFi and drop PMI and lower our interest rates making it a great first rental property. Should be able to get $500+ in pure cash flow once we begin to rent it out.
How did you find this deal and how did you negotiate it?
Found and negotiated the deal through a local real estate agent.
How did you finance this deal?
FHA Loan
How did you add value to the deal?
Waived financing contingency in offer
Lessons learned? Challenges?
House hacking is definitely the easiest way to afford your first home while lessening the financial burden and setting yourself up for success in the future.
Congrats! House hacking is the absolute best way to start and the cheat code to personal finance.
Post: Multifamily property investing in Pittsburgh, PA.
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Originally posted by @Brendan Moyer:
Does anyone have experience in investing in Multifamily properties in Pittsburgh, PA.
I own nearly 100 units and am under contract on the one that will push me over. Mostly 2-4 unit buildings and small apartment buildings.
Do you have any specific questions.
Post: Area Population and Note purchasing
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Originally posted by @Peter Halliday:
I’m wondering whether note investors factor in the population of an area. Why or why not? It seems to me that population is a big risk. There’s a bunch of paper on some sites from places with just a few thousand people. Mostly places like that would be difficult to sell, and difficult to find professionals in aid think.
I'm a noob when it comes to note investing, but wouldn't the velocity of transactions or number of properties sold in a certain area be more important than just raw population stats?
Post: Ready to pull trigger on first deal- would appreciate feedback
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
@Steve Kim
For a brand new property basically this looks good.
Post: Looking for CPA recommendations
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
@Tim Matthews
@Natalie Kolodij would be my recommendation if you don't need someone local brick and mortar.
Post: When does it make sense to sell your rental?
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Originally posted by @Carlos Ptriawan:
Anthony, the problem with keeping a property is many times it's not cash flowing (DSCR <1), and rent is so far from market rent, so the exit strategy possible for some market is only appreciation. To get appreciation is only possible by either selling or refi. But even with a refi, it's only making sense when the interest rate is lower, such as now. You don't do refi when the interest rate is upper single digit.
I believe the answer to this question is very market-specific. I just read the Apartment report for 2021 and every market has different volatility.
Where I am I don't buy real estate that doesn't cash flow. So I guess that's not something that I really consider.
We also don't have rent control so below market rents can always be fixed.
So there are a number of factors at play here that I suppose I just wasnt even considering as part of the situation
Post: Property Manager not Advertising on Zillow
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
@Brett Mather
Zillow started charging weekly in my market so we no longer list directly on Zillow and have been doing perfectly fine.
Facebook marketplace is the main place to find them in my market. However, we post on the MLS at times and that pushes it out to zillow.
Also keep in mind between Thanksgiving and New Years is the ABSOLUTE worst time to try to find tenants.
Post: REI in El Paso: Mil family moving to EP for 3-5 years
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
@Cheryll Ramirez
Any good recommendations on investment friendly realtors for OOS folks?
I have over a fairly sizable portfolio in Pittsburgh where I live, but was looking into diversifying a bit and was interested in El Paso, but it was hard to find managers and realtors.