All Forum Posts by: Bill Brown

I'm not a GC, but you need to feel out each sub for this kind of thing. It all depends on the work being done and the materials that are needed, some guys are easy going working around other trades and some guys will walk out on the job. That said, roofing is a priority and needs to get done in a certain window, so don't hold those guys up.

Take carpet up first, paint everything with exposed subfloor if you have the choice. But really, dig into the bathroom first because that will take the longest.

Profit First for Contractors by Shawn Van Dyke

I'm a new landlord, and use the paid version of Avail. I'm utilizing more than just rent collection though. I know some people use venmo or similar, but I'm a fan of the management software. I would look into other softwares if you're planning on many more units though.

Larger, reputable companies are probably going to charge more because they have more in-house costs. Maybe they actually can do a gut bathroom job in a few days, but you are going to pay for multiple guys to be on site every day.

It sounds like it wouldn't be difficult to find a lower price if you can find another price at all. You should be looking for a solo remodeler that maybe doesn't advertise and works out of a small truck or van. Those guys should be under $12k for that kind of job, but they are harder to find. And really hard to find one you would want to use again. Ask anyone you know who's had a remodel done or maybe try something like thumbtack?

@Davin Manfredi where are you located that you don't like the areas? And what are you looking for? The South Side seems like a great area to house hack if you want to party with your tenants. Plenty of multis and good potential for cash flow.

@Katie Case I recommend not doing a live-in flip involving pregnancy or a new baby unless you can get the work done before you move in. I gutted our house in two phases; the first time while living in it. We moved out for the second phase while pregnant, and it was not ideal logistically or financially. 

Also, don't know if you guys have access to more money, but renovating a 4 bd house in Sewickley will be expensive. You would be able to refinance or get a Heloc when it was finished, but your money may be tied up for a while.

@Leo R. I lived in Polish Hill about a dozen years ago and live close to it now.  Its built into a steep hillside with less-than-average quality housing stock for the area. Many of the streets are a PITA to drive through because they are small and there are few driveways. Rents have been and continue to be low for the East End as well.

That said, it's a great neighborhood and there has been some development (new build/ major rehabs), but it has fallen behind the rest of the area's appreciation for the past few years. I assume it has to do with geography. It's not a super easy walk to the other neighborhoods you mentioned, and there is only so much going on in Polish Hill itself. I would buy there for cashflow, not appreciation. I would not plan on getting top rent dollar for a nice rehab. And I would be careful comping rents from outside the neighborhood.

What part of Pittsburgh?

@Keshav Bhandari in answer to question 2, I have experience with older houses here in Pittsburgh. It all depends on your end goal. If you're looking to buy something ready to rent, old houses are fine if your tenants are fine with it. If you're planning on gutting the property anyway, then I don't think it matters as much.

You shouldn't be worried about buying older houses, but do closer inspections on the systems (wiring, plumbing, heating) in addition to the obvious (foundation, roof, siding, windows). I recommend calling some local home inspectors in your area to ask what oddities come up in Scranton. Housing problems can be regional and local info is best.