All Forum Posts by: John Mano

Since you already had HVAC people came out to check, were they able to tell you if your furnace is strong enough (BTU and blower size) to support the building size or additional duct?  Since it's a duplex, maybe use the current furnace for the upper unit (2nd/3rd) floor and install new, smaller furnace for the first floor unit, new duct work would not be complicated with basement access. 

Sounds like a lose-lose situation but you're right that the option that cost you the least would be the way to go for now.  What would be your permanent solution once they move out?

I can attest that the standard baseboard electric heat is quite expensive to run. I have a tenant that rents a bedroom and the cost to run just one baseboard is about $200 a month.  Instead of complaining about the cold, your tenant will complain about the high electricity bill or the building needs better insulation.  

I'm considering replacing the electric baseboard with the electric hydronic baseboard.  I heard they are more efficient to run but the cost for the unit is higher i.e.  $62 vs $230.  Given the high cost of the hydronic units, I may look into the mini-split option or electric central heat with new duct work. 

Is it easier to evict if the lease is month-to-month compared to a traditional 1 yr?  I'm considering doing a month to month lease for my upcoming tenants so it's easier to terminate and get them out if things don't work out.  I understand the drawback is that they can leave at any time but I think the trade off is worth it.  I feel it's not good for everyone if they are forced to stay due to lease and they are disgruntled.   

I believe the $9.89 price covers both the water line and sewer line which is what I paid.  I did have to use the sewer line coverage one time and I was very satisfied with the service.  I have since let the coverage lapsed since I did the annual payment forgot to renew.  I need to look into it again since it's definitely worth it but just like any insurance, it's easy to procrastinate.   

Similar happened at my rental and they had to dig up the sidewalk and replace the section from sidewalk (shutoff) to the house (meter).  Luckily I had purchased the water line protection insurance so they took care of it.  At $5/mo. it's worth it.  Here's the link https://www.awrusa.com/philade... in case you're interested.  There's a 30 days wait period after you sign up before coverage takes effect.

Every time we visit Pittsburgh we would make a point to go to Squirrel Hill to enjoy the restaurants and shopping.  Seems like a great area.  In reviewing your numbers, looks like cash flow is negligible but there's good potential for appreciation.  However, given that the real estate market today is at a all time high (generally speaking), I feel the appreciation for the next 10 yrs may be tempered. Another key question is do you have plans in the future to return to SH to live full time?  If the answer is yes, maybe it would make sense to keep, otherwise my opinion would be to sell and buy something closer to where you will be living.  Long distance landlording can be stressful and frustrating even with a management company.  Just my opinion. GL.

This is just the beginning... wait till the new bedbug ordinance kicks in where landlords are responsible regardless how the infestation occurred.  I give up.

The red flags for me are $250 hoa and 215 days on the market.  As I'm also new to investing in Vegas, my humble opinion is that I'd rather pay a higher price for property that has a lower hoa.  Monthly payments would be about the same and in most cases you'll get a better property.

Hello,

My son will be graduating from Pitt this Spring and will be working in downtown Pittsburgh.  Being a real estate investor, I'm debating if we should buy or rent.  Being this is his first job so there's a risk that he won't like it and could relocate out of Pittsburgh.  With that said, if we are to buy I would get something $150k-200k that can be easily be rented and still make positive cash flow after management fees.  I'm currently looking in South Side near Carson street for close proximity to downtown, safety and retaining value.  We are open to other locations and any insight would be greatly appreciated.