All Forum Posts by: Ray Riley

@Account Closed Thank you for sharing this story. I am just starting this journey and your story is more validation that with the work this is possible. Maybe I need to reevaluate and set my goals even higher.

1 Vote

@Jeremy Taggart It's interesting to see how places I once knew as not awesome areas to hang out in as a kid, have become hot spots. I agree there could be a lot of opportunity on the west end. It's different looking at Pittsburgh through the lens of investor and not just as a guy who grew up there. Thanks for the response.

0 Votes

Pittsburgh, Pennsylvania

Quote from @CJ Shade:

Using the BRRRR strategy, I am in process of purchasing my first rental property, a duplex with a heloc on my primary residence. I plan to quickly rehab at least one of the units then move to the next. When I go to refinance the duplex, would it be wiser to pay off my heloc or use the cash to pick up another investment property?

It's obviously quite stressful with so many unknowns being my first rental property and the units are in rough shape but in very desirable community which I think could work out well for me long term. The current rents are close to half of what market rents should be. One tenant has already given notice and will be out in a few days and the other tenant is looking because they know their rent will go up.

Thanks for the advice

I would pay off the HELOC and then if you have money left over I would use that to put toward another property. That's exactly my plan.

0 Votes

Los Angeles County, California

@Drew Sygit that’s solid perspective. Today I learned from you. Appreciate it.

0 Votes

Aurora, Illinois

Hi, Rookie-ish investor here. Born and raised in Pittsburgh but, I currently live in suburban Philly. I have been strongly entertaining the idea of grabbing some property in my hometown. Seeing all the turn around in my old neighborhood (Bloomfield) and the surrounding neighborhoods, i'm wondering what area is next? I am very familiar with the city and the surrounding neighborhoods, but not being there it's hard to keep up with all the changes happening. I'd love to connect to talk about the Burgh. Tell me, what are you seeing?

1 Vote

Pittsburgh, Pennsylvania

I'm in your shoes now. I'm doing my homework and going through the process. I'm reading a ton, listening to other investors share their stories, and researching on my own. I am in no hurry to make something work. Once I have all my ducks in a row (financing.. team.. etc). Then I'll be ready to start looking at deals. My goal is to have an offer in by April. Always be smart and methodical. Trust the math and keep your feelings off the table. There is plenty of money out here for all of us.

1 Vote

As of this moment,today, my dream property would be my first property. I'm making strides to get there. So it won't be a dream for much longer. However, my dream property is in Pittsburgh. It's the apartment building I grew up in. I want to own it! Maybe someday it will hit the market and I'll hopefully be in a position to move on it.

2 Votes

All Forum Posts by: Ray Riley

Ray Riley has started 1 posts and replied 8 times.

Post: Seven-Step System for Evaluating a Market

Post: 180 units in 12 months!

Post: What's the pulse in Pittsburgh?

Post: Buying Duplex with Heloc, refinancing to pay off heloc?

Post: Do you let "less than desirable" neighborhoods scare you off??

Post: What's the pulse in Pittsburgh?

Post: How prepared did you feel going into your first deal?

Post: QOTW: What is your “dream property”?