All Forum Posts by: Amy Chen

Hi Fellow Investors, we're currently under contract with a small apartment building in Pittsburgh area. Any recommendations on commercial property inspectors?

1 Vote

Hello Airbnb hosts,

I'm looking for a STR coverage in PA, anyone knows an insurance broker? or what policy are you using? Thanks!

0 Votes

I recently found a mixed use in Brookline, Pittsburgh. Is this a desirable market, in terms of placing a tenant as well as appreciation?

0 Votes

Thanks Donna. Yes I am using a PM company to handle everything, but 3 months seem a bit too long. I will thinking about the tenant incentives!

Originally posted by @Donna Thurman:

Are you using a Realtor to find your tenants?

What are the incentives you are giving to the Realtor to find the tenants? Pay.

Have you thought of giving an incentive to the tenant to move in? 1/2 off 2nd months rent, etc

These are all things you need to look at.

Good Luck

0 Votes

I have 2 houses for rent in Pittsburgh sitting on market for 3 months, still haven't got a solid tenant. One is in Beechview 2bd1ba for $800, the other is a 3bd1ba in Brighton Heights for $850. Any thoughts? Should I get a new PM? Thanks.

0 Votes

Wow great job, it looks trendy! All three units got renovated? Do you mind sharing a bit more details, such as monthly rent in both short term and long term unit? Also do you have a picture of the kitchen? Thanks!

Originally posted by @Randall Barrett:

Hi Everyone,

I just posted my first new member post, and figured I'd post my first investment here.

This property needed a lot of work. It's in a great location in Nashville that became highly sought after. It's a triplex that my wife and I bought about 9 years ago and have lived in one of the units since. We inherited tenants that have lived there for 20+ years. Within 2 months one of the tenants passed away and the other vacated. We knew the place would need to be a complete gut once we had vacancy. It took about 2.5 years to renovate the three units one by one. We ran into major problems with our subcontractors which cost us a ton of time and money. The place is finally all finished, filled with tenants and fits the neighborhood.

Heres some numbers...

Purchase Price = $221,000

Renovations = $85,000 + A lot of sweat equity and help from Father and Law.

Gross Income = $3,595

Cash Flow = $1,790

*My wife and I still live there. We decided to furnish one unit for month to month rental, which is going well for us so far. The other unit we rent is long term.

As I'm very new, if anyone has any questions I'd love the challenge in answering them for practice. It was a whirlwind getting this place done with a full time job and 2 babies under years old at home. But now that we're on the other side we're ready to go full steam ahead to the next one!

0 Votes

Started a few months ago, we purchased 2 rental properties in Pittsburgh and found tenants pretty quickly. There are also 6 SFH in Columbus Ohio scheduled to close within a couple of weeks, another two duplex in Pittsburgh under contract! I'd love to network with anyone who's currently investing in Columbus and Pittsburgh.

1 Vote

Originally posted by @Austin Steed:

Hilltop, you can see some good returns as well. Just like any area the microeconomic conditions have an impact on rent rates, vacancy etc. I work with a few investors looking in that area and am really enjoying learning it street by street.
May be worth taking a look there too!

Thank you Austin!

0 Votes

Hi BP fellows, I'm currently studying the rental areas in Columbus OH. Anyone knows anything about Bexley and Whitehall? Looks like these areas still have some cheaper inventory for good returns. We do expect a 1.5% rent/value ratio, and plan to get 10-20 doors (both SFH and multi unit) this year. Any recommendations on other areas? Thanks!

1 Vote

Originally posted by @Alex Deacon:

@Jared Viernes for you to learn the difference for your particular area I would start a list A ,B C and D areas. Write down all neighborhoods and classify them in these four groups.

A. High income levels low crime great school district and convienent location

B. Good schools medium to high income low crime

C. Below average schools average crime rate

D. Low income levels, bad schools and high crime.

Alex, I'm studying the Pittsburgh market recently. And I found schools are generally not so good, even in expensive areas like Squirrel Hills East Liberty etc. The great schools can be found in Fox Chapel, Franklin Park, Mt. Lebanon, I'd love to live in those neighborhoods but seem too far for rental.

I'm interested in investing in B or C locations, where do you think are those in PGH?

0 Votes

All Forum Posts by: Amy Chen

Amy Chen has started 8 posts and replied 16 times.

Post: Pittsburgh PA Apartment Building Inspection

Post: PA Airbnb host insurance

Post: Mixed Use in Brookline, Pittsburgh?

Post: Pittsburgh Rental Issues

Post: Pittsburgh Rental Issues

Post: First Investment! (Small Multi-Family)

Post: Out of State Landlording - 2 more units under contract!

Post: Columbus OH rental market for out of state investors

Post: Columbus OH rental market for out of state investors

Post: How do you define a "B Location"?