All Forum Posts by: Brandi Baker

Hi Bill. I've just started to switch some of my units from STR to MTR especially during the slow winter season. In the three weeks that I've made some changes I've gotten 1 one month stay, 1 three month stay and two 3 month inquiries.but my places were already furnished so there isn't much for me to do to get them mtr ready. Now I'm focusing on b2b marketing.

I also heard Long Island City.  Awww and Pittsburghers were so excited at the prospect of it coming here.

This is so encouraging to see that there are other investors who use this method.  On my current gut project There were two other offers that were considerably more than mine but used the inspection contingency as they had presumably put offers on other properties in this very hot up and coming market.  So I saved 20%.  It's a total gut anyway so an inspection would have been silly.  It's down to the studs now and getting put back together.  

Hello fellow BP friends!  I am a new investor in Pittsburgh but work as a plumbing fixture rep as my full time career.  As such I work with a lot of tradesmen.  Throughout the years I've learned a lot about the building trades (my father is also an electrician) and know how to do a fair amount of the work myself if I so choose.  Between myself and my business partner we own 8 properties and have yet to elect an inspection or home warranty.  Of those 8 half were secured because of the no inspection election.  Two were bidding wars the day they went on the market.  The other half were used to lower the asking price significantly.  I make sure to have a contractor view the property with me and we tally an estimate for necessary work so as to be informed. I am curious if anyone else employs this model as I've seen a lot of investors talk about always electing an inspection and often the warranty which through my contractor friends have only ever heard horror stories about.

Hi Tonette,

My business partners father is a long time investor in Duquesne and Homestead where there is a lot of section 8 housing and his experience has been that he has to be a lot more hands on.  His clientele expects to have every last little things taken care of for them even to the extent of replacing light bulbs.  If this is an avenue you'd like to go down you'll want to be very careful who you lease to.  You'll also want to get the specifics of what you can earn for your property in Beaver county as the price is determined by size and average cost in your area (county if I'm not mistaken).

If possible house hack first.  You'll always need a place to live so this is a safer way to get started.  If you already own your house perhaps look at turning your basement into an Airbnb if you have a separate entrance.  This to me is the safest way to get started and get comfortable with real estate.

Hey Ryan-I utilize a friend who works for as an on staff CPA for a large plumber here in PGH but I'd imagine the realtor or broker you're using on your current deal should have some recommendations.  Most realtors are also investors of some kind...at least mine is.

I'm still trying to unpack this HUD-1 concept but what I also took away from Alex's podcast was his amazing book recommendations (currently reading Factfulness-super uplifting btw) and his belief in having a money making hobby, creative outlet hobby and physical hobby. I snagged this quote from Jim Rohn a while back and I feel the two ideas dance well together: "your level of success will rarely exceed your level of personal development"

I love BP podcast number 301 with Alex Felice.  He talks about needing to have a physical hobby, a money making hobby and a creative hobby.  I couldn't agree more.  For me though all three often get executed together.  I am the designer on my rehabs as well as the laborer.  But in the down times I run while listening to BP or audio books.  This way I am taking care of my mind and body.  It starts the day out right.  Reading the "Miracle Morning" jump started this however I still don't get up before 7 lol.  I'm just lucky that I can end my work day later.  Habits matter and you need three months of consistency for a habit to change.  Just commit to making it a habit even if its 30 minutes a day before your shower MW&F.  Then increase incrementally.  I also plan big events like a mud run or for 2019 I'm going on a mountain biking trip in Costa Rica that I need to train for.  Giving myself a dead line is a huge motivator!!!

Hi Julie,

What about investing in a different market where the cost to purchase a house was more within your DTI range? Here is Pittsburgh you can purchase a house for about $130,000 and on Airbnb earn $35000 gross per year. That might make it easier for you to get into another property. Then you're just left with how to manage it.