All Forum Posts by: Brent M.

Planning to purchase several properties in and around the city over the next 12 months.  I need a representative who preferably owns property and understands what a buy and hold landlord wants.  Rolodex of reliable contractors is a plus!

@Juan Maldonadosent you a mssg.  One thing I really lack is intimate knowledge of the city- though I'm trying to acquire that.  I don't need any warzone properties :-)  I have a strong preference for not going below B level neighborhoods, but read a lot of conflicting info with regard to what's improving vs declining...

Thanks all!   I have been looking at KC, Ohio and Indy, but I think Pitt will be the best fit for my initial purchases.  In the end its all about location (down to the neighborhood) and the team you use.  @Gordon cuffe

@Gordon Cuffe I sent you a message- would love to connect with your guy.

Hi, I'm going to layout my general strategy for phase II of my RE portfolio and hopefully get some insight into what I may be missing.  Thanks in advance for any tips, tricks or advice!

I currently own 8 homes in Vegas and will be selling 3 of them over the next 6 months as tenant's leases expire.  This will give me approx. 300K in cash to use with the goal of generating 6K in monthly gross rents.  I've looked at several markets and believe Pittsburgh is the place to do this (is there anywhere else viable for a long distance investor with those numbers?).  I've got a guy I trust who can do full rehabs and still meet the 2% rule.  I'll be doing cash purchases since I'll be buying junkers (SFHs and small multis) in need of work and my debt to income ratio puts off lenders.  My limitations are the fact that I live in the Bay Area and have a great paying job that I love and won't quit (just yet- but in 5 years, who knows?).

Once I've achieved the 6k goal with 5 or 6 properties.  I will use the cashflow and my improved debt to income ratio to generate 2 down payments a year on properties in another market that has more appreciation potential- currently thinking Jacksonville, FL, but that may change.  OR, I'll get a portfolio loan and continue the cash purchase/rehab/rent process in Pitt.  The ultimate goal is 10-15K net monthly cashflow.

I like to trade a percentage of my paper for shiny rocks, especially when the rocks are at 5 yr lows. The whole reason I got into RE was knowing that the property would never be worthless. Same with PMs.

Alright, I'm really interested in Pittsburgh and planning to cash purchase 8-10 properties there in the near future.  I'm looking for cash flow in particular and Pitt appears to have it.  However, not being on the ground, I'm having trouble honing in on an area/property type of focus.  Quality SFHs in above average to good school districts with average to low crime have served me well in the past.... what spots might I look at for that?  Public transport access would also be a must.  I'm also considering downtown multis, but wondering about tenant turnover/vacancy rates in, say, a threeplex in the Strip District. 

Nearby in Hayward I'm seeing fixer upper SFHs sitting, while nice, but not updated properties are still commanding prices above comps. Looking at multis, but most are unrealistically priced. Have not noticed a significant influx though. Id say ppl in your neck of the woods are listing in anticipation of an interest rate increase.

So yes, buy, then kick at first opportunity.

He'll more than likely reoffend. These monsters do not change. When he does, if I in any way facilitated it, ie provided him housing in a complex where his preferred victim profile lives ( the child you mentioned), I'd be devastated. It's not even a business decision for me. He's out as soon as I can legally kick him. I'd also check with PD- he's required to register his address, to confirm if being around kids is permitted. It's forbidden for most registrants of his ilk.

Hello!  My name's Brent and I recently moved to the SF Bay Area from Las Vegas.  In Vegas, over 10 years, I bought and rehabbed multiple SFHs with the intent of establishing a long term portfolio.  I survived the crash with no foreclosure or bankruptcy and am finally reaping the rewards of fixer uppers I invested in after 2009.  I'm selling several properties (At market price, wholesalers :-)) in order to invest in a higher cash flowing market.  Currently researching Pittsburgh, Ohio, and parts of Michigan.  I work a regular job that I love out here, so RE is just a part of my investment plan- albeit a big part.  Would love to here from anyone with insight on the areas I'm looking at.  Focusing on cash purchases of SFHs and multis in B neighborhoods.  Wish I'd discovered BiggerPockets years ago!