All Forum Posts by: Miranda Micire

My husband and I live in San Diego and we own a property as our primary residence. We target to buy our first investment property this year but not sure what market we should target that will generate good cash-flow with a less complicated situation (major rehab etc). San Diego is a lovely place except when it comes to the real estate market. So we're looking at other states (or other cities in CA if possible) such as AZ, CO, TX as better options. Our biggest concern at the moment is potentially having a property that's far from home and might be hard to manage. We could be wrong - there is also property management team who can help.

I was tempting to sign up for Peter Harris's mentorship program or the bootcamp program Bigger Pockets offers but not sure what will be the better option as both programs aren't cheap. We have a good amount of capital saved up and really just need to connect with friendly realtors/mentors/investors to help us get started. Anyone in the similar situation like us? Looking for help/suggestions!

Hello everyone! Excited to finally introduce myself on here. I have spent the past year listening to audio books and podcasts about real estate investing to acquire a groundwork of financial and real estate literacy to build off. I live in Beaver County and I am seeking 3 to 4 unit properties in the greater Pittsburgh area under $215,000 that will ideally cashflow around $200 per door. I plan to buy and hold utilizing the BRRRR method. My first goal is to purchase a property using an FHA owner-occupied loan in order to live in one unit and rent the others. Five-year plan to acquire at least 3 properties using additional owner-occupied loans. Long term goal to continue acquiring multi-family properties and scaling my operation to reach financial freedom. Looking forward to networking within this community and building my team! Please feel free to share any helpful tips, and if anyone is looking to connect, I'd love to meet you and get lunch/coffee/tea. Also, if anyone has any referrals for a rockstar agent, lender, or handyman I'm all ears! Thanks everyone 😊

Dear BP community,
This will be my second investment property. I have two main questions 1) financing; 2) whether to leave the home an unofficial Duplex (it has Licensed Neighborhood Commercial zoning) or convert to a true SFH. Brief background: My initial investment is a SFH buy and hold with a traditional loan and I paid for all of the improvements out of pocket. The property I'm getting under contract soon is a 3 story, walk-out basement, brick row home in Pittsburgh. Anticipating a major rehab, but not down-to-the studs. Purchase price should be $160,000-175,000.

This time:
1) Hard Money or Conventional 30 yr loan w/ 5 year ARM.

considerations | 1 year interest only loan for $260,000, $136,000 rehab holdback, 8.95% interest rate, $924.93 monthly payment, $65,305 approximate Cash to Close. OR 30 year Conventional loan 5 Year ARM, 20% non-owner occupied down payment, $990 monthly payment at 5.875%, $50,000 approximate Cash to Close.

pros of hard money - rehab budget provided by OPM
cons of hard money I'm unfamiliar with the product and would prefer a lower cash to close amount

2) "duplex" or SFH

considerations | I'd like to utilize the home as a Short to Mid-Term Rental. 

pros of leaving a duplex - it can be rented unit 1, unit 2, or both which provides some flexibility.

cons - of leaving it a duplex - I predict it would appraise for more as a SFH

Hopefully I've provided a decent, concise description of my situation and questions. Any help is appreciated. Thank you for reading!

Hi,

I work with a real estate company that is looking to expand its footprint in Pittsburgh, PA. We are looking for a real estate company or group that can provide multiple rental properties in Pittsburgh for purchase on a regular basis. The purchases would be in cash and we would look to purchase regularly not just looking for a one off deal. Does anyone here know of a company or investor who has that selling bandwidth? Thanks in advance!!

Regards,

Darsh

Hi all

i have a question that might be confusing, so I’ll try and simplify it. 

i have recently purchased a duplex in Columbus, Ohio in a C class neighborhood. I intend to purchase more. 

Now - these homes are functional and rented. Tenants are paying above average rent. But the units themselves could definitely be upgraded further if I wanted too. When I look at nicer SFH or MFH in Columbus, it's clear there's a top end aesthetic that my units don't currently match.

But here’s the thing… in my c class neighborhood, my units don’t look any worse (they may even look better) then some of the neighboring properties. 

So here’s my question - if I upgrade my property from a C class to an A class property, in a C class neighborhood, does that force appreciation? 

The reason I ask is I would rather recycle the Capital and pull my money out to keep investing if possible. I don’t expect to take all my capital out (as I’d didn’t buy these as proper BRRRS), but if I could take most of my capital out and still cashflow id like to do that. 

I should mention that the neighborhoods I’m buying in are expected to improve over time, even though they’re not the hottest areas in town currently. They’re pretty much adjacent to the hottest areas in town. 

Hope that makes sense! Thanks for your thoughts 

I’m a contractor in Pittsburgh and I’m looking to purchase an investment property for 60k that’s on the mls. I used depreciation to lower my tax burden for not only my rental property but for my business as well last year. Although I’m cash flow positive no traditional lender wants to fund me since I didn’t claim an income on my 2021 taxes. What are my options to find 80 percent of this deal?