New member from Pittsburgh but relocated to Long Island.

New member from Pittsburgh but relocated to Long Island.

Bayport, NY · Member since 2013 · 11 posts · 3 votes

Hey everyone! I'm a newbie to BiggerPockets and real estate in general. I'm 25 years old and originally from Pittsburgh, Pa but I now reside on eastern Long Island in a town called Bayport, NY. I moved here almost 2 years ago for my job as an Air Traffic Controller. I work at one of the busiest radar facilities in the world and I'm still currently training so it is a very demanding job at the moment, but I love it. Outside of work, I enjoy playing on an men's league ice hockey team a few nights a week, and flying single engine aircraft. Unfortunately, being a pilot is an expensive hobby and I really haven't had much time or money for it lately. Hopefully down the road I can continue to fly.

Being from Pittsburgh, I grew up in a blue collar, working class neighborhood that was filled with affordable homes. I didn't realize how lucky my parents were when they bought our home: a huge 4 bedroom 2 bathroom house for less than 55k. As a kid, I thought homes were cheap everywhere and I wanted to someday own one myself. It wasn't until I moved to Long Island that I quickly learned that buying a home for myself might not be the best thing to do right away. Homes are so expensive here and property taxes are insane! I'm extremely blessed to be making more money than I ever thought I would in my entire life but it's still not enough to REALLY afford to buy a home in this market. Last summer I began to look for a plan to give myself some financial freedom.

Like most of us, I do not want to get tied down by a mortgage payment and live paycheck to paycheck. I decided that since I don't know the first thing about the stock market, I would learn about real estate investing.

My plan is to partner up with a friend of mine who still lives in Pittsburgh to start a flipping business. We were roommates in college and come to think of it, we were the greatest tenants a landlord could ask for. We would spend our own time and money to improve our rented house (hopefully karma will be good to us). The money that we generate from the flips will be rolled into acquiring multi-family homes to buy and hold. The first 2 buy and hold properties will be ones that we also live in; one in Pittsburgh for him, and one here in New York for me. After that, we will continue to flip to generate cash, then collect as many multi-families as we can.

I'm currently learning everything I can about every aspect of real estate by frequenting the BP forums, and reading every book I can get my hands on. I'm also taking an online course to get my Real Estate salesperson license so I can eventually have MLS access.

I'm really happy to have found BiggerPockets and I want to thank@Joshua Dorkin for creating this community. I found BP through the podcast and I'm a huge fan! Thank you for reading my introduction.

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Brandon TurnerPro Member
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y

Hey @Dustin R. welcome to BP! I'm glad you're enjoying the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.

See you around the site!

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  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Dustin R.

    Welcome. Thanks for your service.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 50 past ones to catch up on.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Good Luck

    Paul

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Dustin R. welcome to BP! I'm glad you're enjoying the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.

    See you around the site!

  • Bayport, NY · Member since 2013 · 11 posts · 3 votes
    12y

    @Paul Timmins Thank you for compiling all of these resources for me. I definitely have my work cut out for me with all of this reading I have ahead of me but I'm looking forward to it.

    @Brandon Turner Thanks for the warm welcome and i'm glad to be here. I didn't mean to leave you out in my first post. You and Josh have the best podcast on iTunes. I specifically like hearing your success stories as well as some of the mistakes you guys have made along the way. It's all great for learning.

  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    Hey @Dustin R. - Thanks for the kind words and for coming on board! Lots of luck from one Long Islander to another . . .

  • Bayport, NY · Member since 2013 · 11 posts · 3 votes
    12y

    @Joshua D. Thanks again. I've heard you say you were from New York in a few of the podcasts but I would have never guessed Long Island. Usually the accent is impossible to miss but you seem to hide yours well!

  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    I worked hard on that, Dustin!

  • Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
    12y

    @Dustin R.

    Welcome to BP! I was curious as to what area of Pittsburgh you're planning to flip in...

  • Bayport, NY · Member since 2013 · 11 posts · 3 votes
    12y
    Jerry Kisasonak I'm not quite sure just yet. Some of the places that come to mind are the butler or cranberry area because that's where my partner lives. I also like places like Robinson, Kennedy twp, moon, oakmont, or even lawrenceville. Lawrenceville really interests me because it's becoming the hip part of town to live in. I'm open for suggestions.
  • Investor · pittsburgh, PA · Member since 2013 · 112 posts · 15 votes
    12y

    I am extremely familar with lawercville, and people do invest here, but im not sure if the market may have been missed, unless you find an extremely good deal. Ive researched plenty of propertys in the area and nothing seems to make sence finacailly. Row homes are selling for 150000 to 200000 for 3 bed 1 bath, 10yrs ago these same houses were 40000 to 50000. And there are only bringing in 1200 to 1400 a mth rent, so if your trying to follow 2% rule these propertys are less than 1%. And 2% or close to 2% is more realistic in other pittsburgh neighborhoods. You may be able to find a few people ready to cash out, on the appreciation value, and find a decent deal. But it just seems to be an overpriced neighboorhood. A new hospital, and a couple new restaurants, to me does not justify a property tripiling in value who knows may be im wrong good luck.

  • Bayport, NY · Member since 2013 · 11 posts · 3 votes
    12y

    @Andy Ballester that's what I was afraid of. I figured that a trendy place like Lawrenceville or the South Side would be tough to find a good deal but it might still be worth a look. I think I'll eventually end up in one of the other places that I mentioned that are further outside the city. Do you have any advice on finding the right market? I find that using Trulia and Zillow are OK but its hard to find accurate info on recent sales. I'm working on my PA license so hopefully MLS access will give me a better idea of the values of homes in different areas. What do you think?

  • Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
    12y

    A agree with @Andy Ballester

    I've seen some real shack-like houses at need 100K in rehab being put on the market in Lawrenceville for very high prices. You're engaging in alot of speculation if you think that prices there are going to continue to run up like they have in past 10 years. IMHO the major part of that appreciation already happened.

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Lol @Dustin R. no need to apologize! :) Josh is the man with the plan here - I'm comic relief. He built this site for 8 years before I stepped in to make some jokes!

  • Homeowner · Pittsburgh, PA · Member since 2014 · 854 posts · 511 votes
    12y
    Originally posted by @Jerry Kisasonak:
    A agree with @Andy Ballester

    I've seen some real shack-like houses at need 100K in rehab being put on the market in Lawrenceville for very high prices. You're engaging in alot of speculation if you think that prices there are going to continue to run up like they have in past 10 years. IMHO the major part of that appreciation already happened.

    I have family that lives in Lawrenceville and it is mind boggling what properties are selling for right now. A 2BR 1BA property on the same block sold for $280,000 late last year. I keep encouraging them to cash out while the prices are insanely high.

  • Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
    12y

    @Account Closed

    I agree. If I lived there I wouldn't live there. Cash out now and move somewhere out of the bustle of the city. Then again, I'm 40. At 20 I probably wouldn't be thinking along those lines.

  • Homeowner · Pittsburgh, PA · Member since 2014 · 854 posts · 511 votes
    12y

    @Jerry Kisasonak

    I can think of many reasons I wouldn't want to live there. The streets above Butler are steep and a nightmare in bad weather. Also, I don't exactly view it as a safe neighborhood.

  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    12y

    Hey @Dustin R. welcome to the site man! Great to have you!

    BiggerPockets
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