All Forum Posts by: Jerry Kisasonak

@Andre Harris Third Thursday of the month in White Oak at The Rose 6:30Pm start. You can find more info and stay informed by joining us on Meetup.com. Search Pittsburgh Real Estate Investors

I apparently am VERY late in hearing about this! I saw an email from erentpayment on Oct 30th and was busy so I didn't read it. Today I got another one, so thought I'd take the time to read it and so what was going on. Well... Uggggg. I just finished disabling all our property accounts. I have zero confidence that tenants who are paying November's rent will actually make it to our bank account. I still can't believe this is happening!

If you're going to use bank financing consider partnering with someone who has a good W2 income, or do flips with private money and build up some venture capital. 

Thanks @Ian Hoover!

Ours is in White Oak - 3rd Thursday of the month. Free to attend. Anyone interested reach out to me. Spring is here... the Pittsburgh market is about to explode again!

@Jay Belcher 

You can't really finish off the walls. The anchors need to be tightened regularly and should remain accessible. 

In my opinion anchors and/or carbon fiber straps aren't a real solution. You still have static pressure against the wall which could cause more problems down the road. I think a lot of buyers feel this way too, which is why resale can be difficult. 

@Justin Myers

Welcome to BP! We invest close to you and we have free monthly meetups in White Oak if you're interested. Reach out to me if so. Thanks Justin!

Hi Alexander! As a generalization, most properties in the 10K-20K range are either in bad areas or will need a substantial amount of rehab, making them poor investment choices in my opinion. As you go up from there, in the 20K-45K range, you'll start to be able to find homes in non-warzone areas. Some of these homes won't need a ton of rehab - which are the ones I suggest you go after. They also will cashflow nicely, with rents typically found in the $650-$850 range depending on the exact area. Obviously, the closer you get to the 45K price, you'll want the home to be in move-in condition.

Since you're buying cash, you're best to go for the BRRRR strategy. Offer low cash offers. Get a good deal so your all-in cost does not exceed 75% of the ARV value so you can refi out your cash and rinse and repeat. We invest mostly east of the city, so these numbers are based on what we experience in that area.

With 150K, you should be able to pick up 4 homes - possibly 5 which includes closing costs, rehab, etc. Hope this helps!  

Hey Evan! I work mainly east of the city of Pittsburgh if that's the area you're considering. LOTS of great cashflowing properties over this way AND they're in decent neighborhoods - not war zones. Anyway, reach out if I can be of assistance. 

You are correct in the idea that good, reliable, honest and fair-priced painters are hard to come by. We have found most of the good (or better) ones are the owners who work with/beside their helpers. If there is no on-site oversight, those that work or apply for these positions tend to be unreliable - as a generalization. And if they are good and reliable, most will go off and paint on their own - cutting out the middleman. The entry barrier in the residential painting business is extremely low. 

So, the problem is how to be an absentee owner and scale the business. If you can figure that out without enduring too much brain damage - you'll do extremely well. 

As for the idea of using it as a networking tool - I'd say there's easier ways to connect with investors. 

Hello fellow Pittsburgh investors! If any of you are interested, we will have more wholesale deals coming soon. If you'd like to get in on them please connect with us. Providing your email address and phone number would be helpful. LET'S GO!