All Forum Posts by: Elise Bickel Tauber

Welcome to the Pittsburgh market!

I've been doing this for 20 years and it seems every election year we see this slow down about 6 months or so before the election. I'm not exactly sure why, but it happens every time. That mixed with inflation does make it a slower market. I think part of the problem is those who are well qualified and can purchase are, with concerns of interest rates going down in the near future (1-2 years) that will inflate home prices even more. Those who don't have as much saved up to purchase or just dont want to spend right now are holding tight. The cost to move is expensive between security deposits, moving costs, etc. A lot of people who don't need to move aren't moving. If you price your rentals at a reasonable price and stay steady with advertising and showings it should go.

Hey Michelle! I highly recommend @Austin Daniel

Hopefully he can help!

We use Matt and Andrew and they have been great! Highly recommend!!

 Hey Bailey! Welcome to investing! Bigger Pockets is the best place for advice (imo) but a lot of people get stuck when taking the plunge. A great question for you is what is the end goal? Are you looking to flip properties primarily? Buy and hold rentals? In 5 years are you hoping to have 5-10 solid investment properties that cash flow but also appreciate nicely or are you looking for some high yielding cash flowing properties that you can dump in 3-5 years? 

If you are looking for something with a little less risk I would say that either a house hack (where you live in one unit and out the other(s)) or a single family rental would be a good place to start. Single family homes have the benefit of the tenant paying all utilities, taking care of all landscaping/snow, and lower cost replacement when things go wrong (a roof on a single family home is a lot less then on a large multi). If you are ok with a little more risk then completing some flips is a great way to go. I usually see the first couple can be a learning process but once you've hit flip 3, 4, 5 most of the time you have figured it out. If you ever need anything I'd be happy to be a resource for you including lenders, vendors, etc!

We've had very good luck with foremost insurance for our owners that we manage for. The other company we have had good success in the past with (but haven't used recently) is Nationwide. 

 Hey Alec,

Lots of good comments I agree with. In general, I agree in our market here in Pittsburgh "rent by the room" isn't a very profitable strategy and when we've managed for owners with this strategy it always turns out bad. The only areas that we've seen it turn out really well is around hospitals, especially for traveling nurses, doctors, patients, etc and college areas, like around Geneva or Beaver County Community College. 

Just a few thoughts for you!

A lot of times I see questions like this and the real answer is "what does the lease say".
If a lease isn't clear as to who is responsible it is going to default to the landlord. Our lease states that on a single family home all pest control is the responsibility of the tenant. For multi-units the tenant is responsible for pest control for their unit unless a pest control company deems that another unit is the source of the issue. 

Hope that helps! If you need anything please feel free to reach out!

 The work was done right and passed inspection, but the code guy made them rip it out and redo it because it was done prior to a permit being pulled. Then it all had to be re-done. I've never come across that situation in 20 years of doing this.

This is a question of area and what is being done. For anything cosmetic (paint, flooring, kitchen cabinets, etc) you dont need a permit. And most boros around Pittsburgh don't even have an option to pull for that. When it comes to anything major like electrical, plumbing, or structural...I think you need a permit. And I know it eats up time, but honestly, those are big things. Switching out a toilet, no you dont need a permit (imo). Running new plumbing lines to a house. Yes. The answer as to why homeowners or investors choose to do unpermitted work is both time and money. It has to be done by the books. The construction company my husband and I own have a city license which is required to get a permit in the city of Pittsburgh. It is a pain in the *** to get and not cheap. The extra insurances we need to hold, bonds, etc. But, we do a lot of work in the city so it's worth it. 

I will also tell a cautionary tell. My client was selling a duplex in the city and when they went to sell, they found out that the guy they bought it from did a whole bunch of unpermitted work and the inspector prior to the current one was his buddy and let it pass. Well now my client had to rip out all that work and re-do it with the correct permits of the city wouldn't release the lien letters. It cost my client tens of thousands of dollars. I say just do it right the first time!