All Forum Posts by: Andrew Mercer

@Alex Deacon, I got my answer yesterday, and not what I was hoping for, but nevertheless, we're in negotiations on a closing price.

Your meetup was great by the way!

Thank you everyone! To my western PA sensibilities, the market in NH seemed to be prohibitively over-inflated, but I ended up unintentionally flipping my primary home up there for a decent return. 

The property I'm offering on is currently zoned as a tri-plex in the city of Pittsburgh. As it is currently configured, it consists of 2 separate houses (1 large and 1 small), but the large house has been split in the past and the small one has additional space that another unit could be added. The thinking behind this is that I'll have some options for the STR side of things, but different paths I could follow if that doesn't work out. Does anyone know if if I would run into any zoning issues if I have 2 separate houses on one property, both of which are converted to duplexes?

@Lacee Beitler Thank you very much! I've added them to my list, and I'll be reaching out this week as that is our next step to move forward.

@Dmitriy Fomichenko Thank you for your input. I've responded to your direct message.

@Bernard Reisz Thank you for the links and simplified answers. It seems that everything can easily be above board in our specific scenario without supplementing personal funds.

Hi BP community,

I'm finalizing the details on purchasing a multi-family home in the area and have a private investor/partner who will be primarily funding the project. Because of this, we have some flexibilty in how we structure the funding. One idea I'd like to investigate further would be funding it from his IRA, but would like to find a local expert to hammer out the details and get a solid breakdown of the pros and cons of this method.

Any suggestions would be greatly appreciated!

Thank you,

Andrew

Hi everyone,

I'm Andrew from Pittsburgh, PA. I'm thrilled to have recenlty moved back here after 9 years away in New Hampshire. I'm excited to continously learn, network and make new friends as I embark on my new real estate investing journey. As of today, my immediate actions to move forward are to propose an offer on a multi-family property, close, furnish and landscape with the goal of short-term rental income.

Looking forward to connecting!

Thank you,

Andrew