All Forum Posts by: Ivan Touevski

Quote from @Alex Hileman:

Hi Ivan, I am in Pittsburgh and there are a lot of investment properties here that match your criteria. What's your budget? How are you financing? For a turn key 3 bed, 2 bath in a nicer area, homes run about $200,000 here.

Thanks for the tips, I’m observing similar things for “window shopping” and general research.

general newbie question, why is Pittsburg cheaper comparatively to some other. If cities like it? I know it used to be double in population size like 50 years ago, but it seems like it’s been keeping stead and slightly growing. I think it has lots of potential. 

Quote from @Max Feinberg:

@Ivan Touevski Hello Ivan! Pittsburgh is a great market for out of state investors…depending on your strategy and expectations. I see you mentioned single family homes…are you open to small multi family as well? With interest rates/prices going up, single family has become a bit harder to find deals that make sense. Would be happy to discuss neighborhoods and specifics with you!

Yeah that’s probably true, I know it will be hard to get a good deal, but I feel like multi family is way more complex. Rather start simple as possible?

Quote from @Nicholas L.:

@Ivan Touevski

why not pick a market in PA that you can drive to and be hands-on in - Allentown, for example?  if you buy without being able to be present in person, then all that DIY skill that you have built up is wasted.

I am a little burned out of my own DIY projects, I rather keep those for fun projects going forward. The skill that I do retain however is getting to know how things are made, what are quality materials and craftsmanship. Hopefully it can help me spot issues or what I need the contractors to do.

You know what, Allentown is a good suggestion, I’ll take a look. I know some coworkers from there.

Quote from @Jimmy Lieu:

Quote from @Ivan Touevski:

Hi all,

Just wanted to say hello to all and get myself motivated to engage some of the folks here.

A little bit about me, I'm an engineer, have a family, live in NJ, and big DIY enthusiast. I have made a ton of renovations on my houses. I tried renting my first property back at the end of 2019, but the numbers barely made sense at the time and I couldn't find a decent tenant. After a couple of months I called it quits and sold the house in Feb of 2020... little did I know now hehe. Anyhow we gained a ton of equity on our current house so it worked out I guess. 

I am looking to do long distance real estate investing because I do not think there are good opportunities to invest locally in NJ, and the state favors heavily the tenants. Along with my somewhat lackluster experience trying to rent my property. I would like to own more property in NJ, but it's just so expensive. Also I believe my $ will go a lot further in another location. I am having a hard time narrowing down a location. I have been looking at Pittsburgh PA.

here is what I got so far:

1) Location PA - Pittsburgh? Still open to NJ investment. Don't know what neighborhoods to look at in particular. 

I have also Looked at Cincinnati and Columbus OH

2) Property Type - Single Family, 3 bed+, 2 Bath. Prefer a close to turn key or minimal renovation ($10k). 

3) Would need to be positive cash flow, or to break even after conservatives expenditures - property management, maintenance, etc.

Any thoughts?

Thanks all!

Hey Ivan, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio. There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc). I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation. As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!

 Thank you, that is great insight! 

Thanks a lot for the awesome replies all!!! I wish I could reply to all but, not a lot of time at the moment. I'll try and reach out!

Great feedback and it reinforces some of the other requirements I have been thinking about. 

First is zeroing on on a location, and ideally neighborhoods, bur probably just as important is getting in touch with some excellent folks from the local market.

I have absorbed a lot of information form bigger pockets, and from my own home ownership/buying/selling.

Financially I would be targeting a $150-200k property with the 20-25% down.

With my current mortgage, debt, and income, I expect to be easily approved for a traditional loan for the above price range. I'll work that out before starting to "look at properties", I'll get pre-approved. What I'm not clear is how it all works with creating an LLC..

Again, thanks all for the replies!!! I'll try and reply more later in the day.

Hi all,

Just wanted to say hello to all and get myself motivated to engage some of the folks here.

A little bit about me, I'm an engineer, have a family, live in NJ, and big DIY enthusiast. I have made a ton of renovations on my houses. I tried renting my first property back at the end of 2019, but the numbers barely made sense at the time and I couldn't find a decent tenant. After a couple of months I called it quits and sold the house in Feb of 2020... little did I know now hehe. Anyhow we gained a ton of equity on our current house so it worked out I guess. 

I am looking to do long distance real estate investing because I do not think there are good opportunities to invest locally in NJ, and the state favors heavily the tenants. Along with my somewhat lackluster experience trying to rent my property. I would like to own more property in NJ, but it's just so expensive. Also I believe my $ will go a lot further in another location. I am having a hard time narrowing down a location. I have been looking at Pittsburgh PA.

here is what I got so far:

1) Location PA - Pittsburgh? Still open to NJ investment. Don't know what neighborhoods to look at in particular. 

I have also Looked at Cincinnati and Columbus OH

2) Property Type - Single Family, 3 bed+, 2 Bath. Prefer a close to turn key or minimal renovation ($10k). 

3) Would need to be positive cash flow, or to break even after conservatives expenditures - property management, maintenance, etc.

Any thoughts?

Thanks all!