All Forum Posts by: Jesse Rivera

We love the Pittsburgh market! Here's a blog post I wrote explaining why:

https://www.biggerpockets.com/member-blogs/10055/86570-why-we-are-investing-in-pittsburgh-pennsylvania

I'll be there. Looking forward to meeting you.

Even if you are using a Hard Money Lender, you should still get qualified with a lender to refinance out of the HML. Very bad if you find out you don't qualify for a long-term rental loan and get stuck with a hard money loan.

Agreed. Be persistent. Call or text him every couple weeks - like clockwork. He'll see that you're serious and at some point need help with something.

You've got the time and energy, others may have the money, and not the time or energy. Learn all the benefits of cash flow real estate and then start looking for partners. Show them how it works. Start with friends and family. Be persistent, but not pushy, it may take some time to convince people. 

I fixed it for you.

"Real estate should only be about 50% of your portfolio."

The wrong kind of paint will do that as well. It has to be paint specifically for vinyl siding. we've had that happen with the wrong paint.

 Very interesting point. I would love to hear from other appraisers on this.

@John Warren Great point about inspectors, I forgot to mention that part of it.

@Share Ross I agree with your agreement!

Let the buyer call it out during inspection.

I’ve listed hundreds of properties, as an agent and investor, and have learned a lot about buyer psychology. Buyers aren’t going to be happy unless they can ask for a big repair. Sounds funny, but I’ve come to believe it’s true. You would thing that they would want a clean inspection, but that’s not how we’re wired. Buyers are happiest when they get to negotiate and win. So give them a win. Especially if you were going to do the repair anyway, it will give you leverage to decline other things that you don’t want to repair.

If it were me, I would not replace it now. I would let the inspector call it out, and the buyer to ask for it to be replaced. I would first offer a home warranty, then negotiate some more and then replace. 

Some don’t like this strategy, and that’s ok. We all have are own way of doing things. Some would thing I’m being disingenuous, but I disagree. I am creating a happy buyer that will move forward to close, instead of one that has a gnawing feeling that they didn’t get a good deal. It’s just an idiosyncrasy that we need to realize we all have, and use to create a win-win.