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Updated about 7 years ago,
Hello! New to BP, Ready to Invest, Where to Start (Pittsburgh)?!
Hello Everyone, I am new to BP and ready to begin investing! I am a lifelong resident a homeowner residing on the outskirts of Pittsburgh, PA (airport area). My husband and I would like to begin investing in properties within Pittsburgh and surrounding areas sooner than later. I have been researching, participating in webinars, reading books/blogs/forums, listening to podcasts, browsing the MLS, etc... attempting to do my due diligence. I've realized this process can become paralytic if you don't make strides towards taking action. We are ready to get out there and start investing!
We are interested in acquiring multi-unit rental properties that will appreciate in value. We have some interest in areas of the city such as Southside, Oakland, Mt Washington, etc.... Starting out, we are interested in properties that do not require renovations. I am doing more research into turnkey investment properties as well. As we establish a network and resources, rehabbing/renting as well as flipping would be an option. At this point in time the thought of diving rehabbing is a bit overwhelming (securing funding, contractors, etc...). Any insight on this would be appreciated!
Additionally, any insight on financing would be helpful. I've read forums mention local banks, others recommend hard money lenders and others reference private lenders. My credit is great, debt consists of student loan, mortgage and car note. We are partnering with a friend for this venture and will work to bring the necessary money to the table (we don't have an excess of savings). I'm really not sure where to start but want to have a logical approach.
Also, I noticed there are 2 networking groups that seem to be popular in our area, Pittsburgh REIA and ACRE of Pittsburgh. Any feedback on the difference between these groups would be appreciated, as I am trying to determine which I should begin attending (one or both).
Thanks!
Quiana