All Forum Posts by: Alex Deacon

@Lana Ly If you are new to the business you should be having a full home inspection for all of your properties. Then if there is a structural issue you can extend the inspection period and hire either a structural engineer or as @Eric Clark states, find a company who does structural repairs which will be free verses an engineer.

@Chris Dickerson and @Darrin West you can purchase buyer lists online. Also start working with local agents and other local wholesalers in your area. As you grow your business the buyers will come out of the woodwork but just starting out those are my suggestions

@Lisa Talbot Pittsburgh PA is a very good market and still affordable. You will need to raise your IQ on the market here and get a good team of advisors before you dive in. That goes for any market

@Greg Schreffler Take it slow and buy quality. Its affordable here but I have seen 90% of all investors fail from out of state. They dont know the market, they are too reckless and they think its easy. values here have risen to the point to where its not as affordable as it was 10 years ago because of the flooding of out of state money. 

@Elena Scott very impressive what you have accomplished thus far. keep doing what you are doing and start itemizing the list of tasks you can hand over to someone. It doesnt have to be all at once. Dont start delegating until you are maxed out. I have been at this 30 years and have made just about every mistake possible. You will get there. Build the base of the pyramid and then keep adding blocks

@Zachary Bush there is nothing wrong with all cash. You can always use your equity and borrow against it. Just make sure when you are ready to borrow that the current financial situation you are in is going to be something the bank will lend money to you. If you quit your job and then have no income the banks may or may see you as a liability. run this through your head and take a look into the future as to what your income will be, where it will come from and will the banks be open to lending to you.

@Scott Michael Gross you will have a blast with the building inspector over there. He takes his job very seriously.

@Yotam Levi I buy and sell a few properties a month in the Pittsburgh market. reach out to me and I can also connect you with about 6 other people who can help you find more deals

@Michael L. 

To answer your questions yes its feasible but how an appraiser will handle it would be to pull comparable sales within the past 12 months. It will be easier to pull sales of single family homes since there will be a lot more sales then a three unit.

An appraiser may also look at the income approach and use that in factoring the value.

I had past clients use their 401k Money but I think they had to move it to a self directed IRA of some sort. It can be tricky unless you talk with an expert. Even if you pay a penalty for early removal of the funds it may still be worth doing based on the ROI you can get from REI and the ROI you are getting from your 401k.