All Forum Posts by: Jerry Kisasonak

We host a free real estate investors meetup group in White Oak and get together once a month. Message me for more details if you're interested. 

Yes, there are certain pockets that aren't as affordable to buy in and you happen to be in one of them. Tough choice for you, but may be best to continue to rent (uggg) and invest elsewhere. 

Investment loans are harder to get simply because the risk to the lender is higher. 

I believe there are tax advantages to owning your own home - I believe the mortgage interest is still deductible. If you are going to be running your investment business from home there is also the home office deduction. 

You are in Pittsburgh where housing is very affordable - with the medium home price being 125K. There is opportunity everywhere here. I you plan on living in the area more than 2-3 years I'd buy, and buy now. Interest rates can only go up from this point. People who live in CA and are commenting on this are looking through the lens of their market - which will not prove to be good advice for our particular market. Just my 2 cents 

@Dominic Lucarelli I believe he said his were on Soles Street.

I second what Jeremy said. I live close to that area and won't invest there. I have owned two homes there and gladly sold both of them. Even with being in close range they were high-maintenance management. As Justin mentioned, there are a few good pockets in McKeesport. But it's rare that great deals come up in those areas.

I recently spoke with a newer investor who bought 2 homes in McKeesport for 4K - that's for both. His plan is to put 20K rehab into each and rent them out. Sounds like a solid plan - 22K all-in each. But where he bought them he will have a very hard time getting a tenant who will pay and won't tear the new rehab up. This is what people who are selling these houses for 2K know: It's not worth dumping money in an area where it will not be appreciated - or worse - destroyed.

Having said that, if you do want to go there Justin Better will be your guy.

Hi Chris. I have an investor/friend who is very familiar with Scranton Pa. I recall in the past he has told me that property taxes have become very high there, so high that they've really put downward pressure on the real estate market. I personally have no first-hand knowledge of the area, but would look closely at the property taxes before buying anything there.

We're in Pennsylvania. If you want a copy of the one we use we'd be glad to send it. Just friend request me and we'll take it from there. And by the way, some of what's in our lease we've adopted from attorney Brad Dornish's lease.

@Account Closed You should always do your due diligence regardless of the source of the deal. I personally would put more trust in Helen's opinion (who owns 51 units) versus a realtor's opinion (who probably owns 0 units). If it sounds too good to be true, investigate and make an educated decision. This is not what most people do, which is why most people do nothing. 

@David BeckleySorry, just assumed there was a certain amount of marketing involved because that's typically the case for a wholesaler. 

@David BeckleyI'm not sure that's good advice. If you market for deals for your own investing business and you will be a principal in the transaction, you do not need to disclose on the marketing piece that you're a licensed agent. However, if you plan on taking these leads as listings if they don't fit your investing business model, then you do have to disclose that you're an agent on all of your marketing pieces.