All Forum Posts by: Anthony Angotti
Anthony Angotti has started 64 posts and replied 1482 times.
Post: Is contacting my tenant a bad idea if I have a property manager ?
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Gurjot Grewal:
Im closing on my first remote investment. Its got a tenant who so far seems great. I was thinking before I get things with the PM I have chosen set up, that I connect with the tenant. Ask him to let me know if he has any issues with the PM. As a way to vet the PM. Is this a bad idea ?
Post: Mortgage broker recommendation
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Paul Korns:
Hi everybody. This is my first post on here so I'd appreciate any help. My wife and I own one rental that we use as an Airbnb and are looking at getting another. We invest in the Pittsburgh area. We are looking to find a mortgage broker to help us fund our next purchase. If anyone has any recommendations I'd really appreciate it. Thanks in advance.
You could call Jason Horr with Tara Mortgage. He works with a lot of investors and I’ve worked with him in the past and had a good experience.
Post: Utilities not separated.
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Patrick Eldridge:
Quote from @Anthony Angotti:
Quote from @Patrick Eldridge:
I’ve gotten really good at separating utilities on the low end. Boilers are very simple with duplexes, just trace the lines in the basement to the one apartment and disconnect them. Then I wire up electric baseboard heating. Everything in on YouTube on how to do it. I use dual 20amp breaker with 12/2 wire and you can add up to 3840 watts per 20 amp breaker dual pull. The instructions come with the heaters how to wire them up. It just costed me 2500$ for 3 panels/wire/thermostat/heaters/etc and we paid an electrician to install a 3 gang meter base outside for 3000$.
I assume this is without permits? Y
With permits, I’m a license/insured contractor/home inspector/hvac. I started learning everything 10 years ago and started with YouTube.
Not bad then.
I’d hesitate to have a newbie wire baseboards though. Maybe start with a couple light fixtures haha.
Post: Utilities not separated.
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Patrick Eldridge:
I’ve gotten really good at separating utilities on the low end. Boilers are very simple with duplexes, just trace the lines in the basement to the one apartment and disconnect them. Then I wire up electric baseboard heating. Everything in on YouTube on how to do it. I use dual 20amp breaker with 12/2 wire and you can add up to 3840 watts per 20 amp breaker dual pull. The instructions come with the heaters how to wire them up. It just costed me 2500$ for 3 panels/wire/thermostat/heaters/etc and we paid an electrician to install a 3 gang meter base outside for 3000$.
I assume this is without permits?
Post: Utilities not separated.
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Lora Sitler:
Hi Everyone,
I was looking at a multifamily property in the Pittsburgh area, trying to run it as a MTR/ STR but the utilities are separated. Trying to see what my options are on how to split that or finance it in. any help or knowledge would be appreciated.
If purpose built its not too bad, you can hire each trade and get bids. Gas can be tough so usually you leave that alone and make the heat for the other units run off of electric.
If it is a former SFH don’t even bother. It’s going to be a mess. Just include it in the cost of the rental to the tenants. You can charge a fixed amount if you want to do it separately you just have to be able to prove its reasonable.
Usually we charge $50-100 more per utility included. Water and sewer combined as “one” in this case. Water and sewer are typically included in rent though, so when you see “market rent” or comparable rentals you need to know that it usually includes that.
That usually underbills it but makes up for most of it.
Post: Is anyone here familiar with small multifamily properties in Pittsburgh
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Davin Manfredi:
I am 23 and am currently looking to buy my first house (small multifamily property) in the Pittsburgh area. I also plan to use an FHA loan. The problem I am having is that most of the small multifamily properties in my area are in neighborhoods that I would rather not live or invest in. Is there somewhere in Pittsburgh or the surrounding area that may have better options for me? Thanks!
What are you looking for in an area?
I have house hacked in dormont for almost 10 years now (finally moved on to a single family here also) and it’s been great for me, but it all depends what you are looking for in a neighborhood/place.
Would be happy to talk if you have any questions. I have over 100 units in Pittsburgh now, but just kept house hacking as long as I could because you save so much money.
Post: Management fees for MTR
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Patrick O'Shea:
I manage myself in Pittsburgh, PA. After setup, my effort is really low. I use turno.com (formerly turnoverBnB) and cleaners accept jobs based on my Airbnb calendar. I don't accept rentals short of 30 days and most guests stay 3-6 months.
Where are your properties? Around the hospitals?
Always wondered about MTR for Pittsburgh.
Post: I'm looking for an experienced and reliable property manger
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Karin G.:
Hi Melanie, thanks for suggesting the NARPM website. Apparently only 2 Pittsburgh property managers are NARPM members ... and one of the two is my current property manager. I hired them them last year after I purchased my 2 houses (without knowing about NARPM). Unfortunately, things are not going great with them at all. I'm taking notes of everyone's suggestions on here as I try to move forward.
MACE property management
Post: Wholesaling assignment contract
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Nathan Williams:
Looking for a good real estate lawyer in the Pittsburgh area that can draft up assignment wholesale contract I’ve also heard of a purchase agreement with an assignment clause.
assignment is not the way to do this in allegheny county anymore.
Post: Finding arv in the Pittsburgh area
- Real Estate Agent
- Pittsburgh, PA
- Posts 1,538
- Votes 845
Quote from @Deon Brown:
I be running comps in the area I come up with different numbers because I’m not sure what formula to use I’ve try a range from .7 to .83 just don’t understand where to go from here
Agree with the others. It's going to be tough to do without a lot of experience in the market.
Construction is non standard, school districts are wildly different, and even on the same street its going to sometimes differ dramatically.
For instance on Voelkel Ave in the neighborhood most of my investments in one side of the street is worth on average 30-50k more than the other side even if the same bed/bath count.
The reason is that one side has a lot of stairs to the front door and the other doesnt and only part of the stair side has off street parking in the back.
If you didn't have experience or were local/in the area a lot you wouldn't know that. As Jim said, you'll want to befriend an experienced local friend/realtor/property manager/investor that can help you with this.