All Forum Posts by: Brian Lesko

Hi Derek, thanks for relying.  Much appreciated.

I would like to pick your brain for some info.  I'll formulate some questions after I check the property out tonight and be in touch.

Thanks again

I've been following Biggerpockets for over a year.  Watching podcasts, reading books, talking to people, basically trying to learn as much as I can.  I'm actually going to look at a property today and am ready to stop learning and start acting.  I just wanted to put myself out there, as I am hoping to connect and network with as many people as possible.  I'm investing and living in south western PA.  Hope to hear from some folks soon.  

So, I've been giving serious consideration to buying a few properties with a turnkey provider.  I'm busy, and my local area isn't the best place to get started.  I know that there are downsides, not all companies are reputable, and I could make more of a return if I did it myself.  But, I want to keep all options on the table.  Does anyone have any advice, experience, horror stories to share?  Does anyone know of any companies out there that are reputable and won't scam me?  Thanks

Thanks for the input.  I'll let you know how it goes. 

yes.  grant street

Hi everyone.  Thanks for the input so far.  My realtor wasn't able to set up the viewing for this past weekend, so I'm going to be looking at the property tomorrow evening.  I'll keep everyone updated. 

I'm going to look at a duplex in my town this weekend.  It is fully rented.  Currently pulling in $525 per month per unit.  Total gross rent = $1050 per month.  Utilities are separate and paid by the tenants less the yard maintenance and snow removal.  It's only a few miles from me and in a good part of town.  Asking price is $69K.  The agent said that it's owned by an older couple who are tired of being landlords.  They just want out apparently.  From the pictures, the units look to be in good shape with updated hardwood, paint, and appliances.  I don't have info yet on HVAC, plumbing, roof condition.  I'll find out when I view it.  Any tips to look out for or questions and info that I should be asking?  Thanks in advance. 

Understood.   I live near Pittsburgh PA, where fortunately for me, property is still affordable. 

I would consider not going any further from home than you have to.  How do things look in Nevada or Arizona?  (I don't know those markets), but you may find affordable deals there without having to be too far from home. 

This is your first deal correct?  I am looking to buy my first deal within 10 minutes of where I live.  I have no desire to be a long distance landlord on my first deal.  I feel that it would be far better to get my feet wet on a deal close to home.  I personally wouldn't do the long distance thing until I have enough scale to be hands off with the properties in my portfolio. 

I am looking for my first property as well, and in speaking with most conventional banks, they want 20% down. 20% is probably a good idea anyways to avoid PMI. I don't know where you are looking to buy, but is turnkey possible for 60 to 70K? You might want to budget a few thousand for repairs. At least new carpet and some paint. I'm looking in your price range as well, and turnkey is hard to come by in that space.