All Forum Posts by: Daniel Winschel

@James Wise. Very interesting, that’s a great idea. Not into spending money for no material gain, but if I’m serious I may need to pay for an education!

Thanks guys, I appreciate the advice. Hopefully I’ll find a team that I trust and have enough confidence in to carry me to victory. I know I’ll have to do a lot of leg work myself, but the barrier to entry is pretty high, so I’ll need help to start with

@Patrick Johnson. Indeed! I’m hoping to do a buy and hold for rent. You really hit the nail on the head there. I have so many books telling me how to search for deals and run numbers and “strategies”, but if the building isn’t turnkey than it will require renovation, and if it is turnkey than one thing I probably won’t be turning is a profit!!!

I am brand new to the prospect of real estate investing. Still doing tons of research with podcasts and reading books. My question is this... I’m in the Pittsburgh market, which has become pretty competitive for the C and B level communities, looking for my first house hack. It seems as though the only way to make the numbers work is to do more of a Brrrr scenario? I have no skills currently in the home renovation department, interior design, etc. My agent could set me up with contractors or whatever I need, but I have no idea how to project costs. Even if I had a team of professionals to help I don’t know what choices to make in home design and of course it would cost more than doing it on my own (while working a full time job). How did you all go about learning these concepts well enough to be comfortable taking that leap? The risk feels insurmountable at times.

@Chris Sellers thank you so much for the info! I appreciate the help, that will make things a bit easier for me. Hopefully I can get these numbers down to a science soon. I’ve done so much listening, reading, searching, and dreaming about REI but very little actual work up to this point. I’m finding this is more important than a lot of my “education” haha

I’m new to REI and still doing research to find my first property. Looking for a house hack. When running the numbers I am having difficulty plugging in the rent, tax, and water/sewer numbers. This is because that information is not readily available. I have looked up taxes via the county assessment but it’s not very easy to follow or maybe I just don’t understand how to read it. Do you just call the agent listed for the property on a place like Zillow to find these answers? It’s making running the numbers a big guessing game and it’s quite frustrating!

Originally posted by @Stephen Daniele:

Norman,

I'd certainly be willing to share my network and resources with you in a quick phone call if you would like.  Full disclosure: i own a 100 + employee construction company that rehabs the 4-20 unit multi family buildings my separate real estate company purchases, and then does the property management of those buildings.  So, i wanted to disclose that i am a turnkey operation via two different companies.  I am interested in building relationships with peer real investors in my market of Pittsburgh, not selling my services to members of Bigger Pockets.  If you are interested in a call let me know and we'll set it up.

Steve

I am new to REI and i am searching for my first property. Looking for a 2-4 unit that may need some light rehab at best. If you could be of service, please let me know!

Looks awesome!  This is the strategy I'm looking implement on a multi-family property.  Good to see it providing success for others

Hey all, my name is Dan Winschel.  Glad to find this helpful and supportive community with it's wealth of information.  Im still in a research phase trying to wrap my mind around how to find the right deal for my situation, but I'm very driven to begin this journey.  I've been listening to BiggerPockets podcasts for hours a day and reading books on real estate with a focus on long term rental properties.  I want to employ a combination of the house hacking and Brrrr strategy.

I've been searching daily for good deals on multi-family properties in the south hills of Pittsburgh.  I've saved enough for a decent down payment on a medium priced property and i'm in contact with a couple agents and money lender.  I'll probably need all the contacts i can get in the way of trustworthy contractors, other members of my "team", etc...

I'm currently an RN at a local hospital, but my goal is to one day be able to support myself through long term rentals.  Cant wait to network and make big things happen in the future!