All Forum Posts by: Brad Diggans

I am attending my first Sheriff Auction tomorrow and wanted to see if anyone on here had any critical Do's or Don'ts that I should be aware of.

Just wanted to say thanks for all that posted their experiences on here.  I am currently looking for a start up line of credit for my flipping business and clicked on their ad through Facebook.

Started off sounding good with them getting me a line of credit but then switched to them  applying for credit cards with "Partners" during the initial conversation.   I was able to search and find this thread while on the phone and just told them I wasn't interested.  

There are several of these type of "Services" popping up all over my FacefBook now.  My advise is ask questions and be cautious if a company is trying to charge you 10% on whatever "'funding" they get you as they will just apply for 10 business credit cards with your information and then you owe them 10% of the limits. 

I am also in the Pittsburgh market and have some experience.  Trying to network and build some relationships to take it to the next level.  Let me know if I can help with anything. 

Quote from @Julie Chai:

Hi Brad, if you want to get into the multifamily market, Jake&Gino's mentorship is all about that.  It's a good amount you'll pay for the course but you'll be able to meet the whole community at their events.  If you want something more a la carte, one of their coaches, who is also my coach, has his own program that has less cost.  Check out his website below https://realestateraw.mykajabi...

Thanks for the information.  What benefits have you received from coaching and mentorships?  I started to look into a few through Facebook and now I get tons of ads so difficult to determine which ones are legit.  

Quote from @Kyle Spearin:

@Brad Diggans congrats on the 23 units! I agree with Nicole about trying to develop synergy between your job and investing. 

If you do flipping, being an agent is an amazing way to pad your margins with extra profit. It's also great if you want to find more units for your portfolio or if you want to help others scale their portfolios.

You could also look into working for a property management company, learn what they do, and start your own company with your units as your first test run at property management.

With your track record, you could also go the route of syndicating deals which would give you capital and allow you to keep apply what you're already doing.

Good luck!

I do currently manage my 23 units and have experience there.  I could try to launch that into its own business and will look into that.  Thank you.

All,

I am looking for resources and advice on how to go into Real Estate Investing full-time.   I currently own/operate 4 properties with a total of 23 Units and I just took a separation package from my main job.  I started to look into wholesaling, fix n flip, and buying multi-family properties with "Other people's Money" but there are just so many online trainings, groups, and courses out there that all want a large upfront sign up fee.  Having trouble determining which ones are worth while and which ones are just access to some videos.  

My goal is to supplement my main income with cashflow from properties but struggling to determine the best path to do this.  I will need to grow my current 23 units to 75+ and do not have the funds to put 20% down on another 50+ units. 

Any resources or input you could provide would be helpful.

Thanks in advance,

Brad Diggans 

I am looking into purchasing 10 units in a small town university in PA.  The obvious pro is that income is higher than comparable residential as you can rent by the bed as opposed to by the unit making the 10 units rent to 28 Beds.  The units are fully booked through May 2022 at this point and are financially a great deal based on the numbers for the next year.

The main risk I am seeing is that the 5 year trends show that small town universities are shrinking in enrollment in general and there is a big move to online courses after Covid.

I am looking for input from any experienced investors in the student housing market that can provide any additional insights into my decision. 

Thanks in advanced for your input.

Looking for recommendations for tax preparation services in the Pittsburgh area specifically for two income family with 2 rental properties with a sole proprietor LLC.

Thanks in advance.

Brad Diggans

I did a Home Equity Loan on my personal home to pay off my two Townhouse Rental Properties.  I then setup an auto payment from my Townhouse checking to my personal checking to pay a portion of the refinanced loan on my personal house.  

My question is, can I include the expense of paying myself as a cost for the rentals when determining profit for 2020 like a normal mortgage payment. 

Thanks in advanced, new to the site.