All Forum Posts by: Alex Deacon

@Mahde Atmna there is no website I am aware that can help you in grading. You kind of have to figure that out for yourself. An A area is high average Houshold income, usually a good school district, low crime etc.. D areas are the exact opposite. Then you catorigize the rest of the areas accordingly.

@Mahde Atmna I am a local Invesment expert in the Pittsburgh PA market, but I would surmise that its the same for most areas. I would focus on something local so you can drive the neighborhoods and you can check on the project and the rental on a regular basis. if you have to buy out of state it will make it just more challenging. Focus on a D plus or B minus area. Focus on quality verses ROI. Dont just look at the numbers. Deferred maintenance, layout of the rooms, parking, houses nearby condition, etc..etc.. I am just touching the Tip of the Tip of the iceberg. You will need to spend hundreds of hours getting to know this process and the area you focus on. Hard work, patience and time.

@Emily Chen I dont think you need an attorney yet. Find out when the lease ends and give them notice that you are not going to renew. Just suck it up until then. You can call section 8 but they are not much help. At least they are not much help here in Pittsburgh PA. Inherited tenants are a real pain point for all of us. You never know what you are getting. I would agree with @James Mc Ree and review his comments also

@Donnie Britton You are going to have challenges with a wholesaler. Lack of the ability to do home inspections and due diligence. You will most likely have to pay cash also. I think @Wayne Brooks hits most of the pain points. Best you can do is be ready when something does hit the market. Make the best offer you can but dont buy a home just to buy. Its hast to have some good value.

@Kevin Robert I started in Pittsburgh in 1995 as a mechanic full time and an agent part time. 3 years later after working both professions I switched to part time mechanic and full-time agent. At the end of my fourth year I was a full time agent and a full time real estate investor. 2002 I started a property management company. It can be done it takes hard work and patience. You can do it.

@Jim K. I sell a lot of properties in the Pittsburgh market. we also manage 800 plus units with over 200 clients. I see very few out of state investors do well. They dont have the right team and they dont have the patience that it takes to find a good deal. The ones that are buying a lot all at once typically fail. Such as some of the recent hedge funds who lost a lot of money here. Its a marathon and not a sprint. That's the first thing to remember. Number two point is that its not easy. Its possible to succeed but its not easy.

@Chelsea Price  The challenge is if you live in an area where the prices are so high it can be difficult to buy because the barrier to entry is too high or the cash flow is nonexistent. Sometimes you need to expand your boundaries. I am a firm believer in knowing your market and that's easier if its close to home. I have helped hundreds of out of state investors here in the Pittsburgh PA market. Its not an easy task especially now with the high demand and low inventory.

@Matt VanGorder I would not hesitate to buy in any area of Beaver county. At the right price any area makes money. You just need to understand the demographics and what kind of management strategy it will take for specific areas. High crime, good school district, average household income, appreciation etc... I couldn't agree more with @Chris Seveney finding a good property manager is very difficult especially if its a depressed, higher crime area or a rural area.

@Stephen Rinaldi I couldnt agree more. As someone wise once said. Dont wait to buy real estate. Buy real estate and wait. With that being said I would advise "Buy good investment real estate and make wise decisions and then WAIT"

@Timothy Holden please reach out of you do any business near the Pittsburgh PA market.