All Forum Posts by: Liam Tennies

Hey Keegan, I see a lot of them as an agent walking rentals for investors and have rented to a few students in my own properties. Kind of depends what you're looking for. Grad students or undergrad, which neighborhoods in the city you choose to focus on will dictate which of those you'll be targeting and then also the cashflow associated. Time of year when you're leasing a student rental is important so if you're planning on getting one this year I'd start looking sooner than later just so you have time to lease it up for next school year. Lot of nuance and things to consider with the student rentals but happy to discuss more if you need. PM if you need anything else and good luck!

Hey Sebastiano, the bulk of our client base is investors and we have a heavy focus on value add so we have been able to vet several good contractors for that space over the years. Same ones we refer to clients are the ones we've used on our own projects. PM me and I can send you info for a good 3-4 contractors.

Also you're smart to focus on team building first. Having a good team on the ground is the most important success factor when investing out of state. Also once you find one execellent team member they'll typically refer you to the rest. Good luck! Reach out to me or  @Jeremy Taggart if we can be of any help

Hey @Marvin Pennant, appreciation & cashflow are on somewhat of a sliding scale depending on which area of Pittsburgh you're buying in. In Charleroi I would generally say that's a more cashflow centric market that will show low-average appreciation over time. I do know there's been a good influx of immigrants who have moved into that particular area though so that may bode well for rent prices over time.

I'd just make sure the property is cash flowing with current market rents once you get it renovated/stabilized and I personally wouldn't underwrite above average rent appreciation there.

Happy to take a further look at it if you want to PM me. Otherwise, good luck!

Hey @Matt Vozzo , if doing OOS I'd take a look at the Pittsburgh market. We have a lot of out of state clients purchasing here for investment purposes since it's an affordable market where you can still find cashflow in certain sections of the city. A stable and not a boom and bust market, has lots of univiersties, hospitals, and job sectors that support the local economy. PM me if you'd like to discuss further or ask any questions about the investment space here.

Hey @Tona Sanchez, congrats on taking the first step. I'd take a look at the Pittsburgh market as well. We have a lot of out of state clients purchasing here for investment purposes and working with a few right now that have a similar buy-box to what you listed. It's an affordable market, no boom and bust, lots of univiersties, hospitals, and job sectors that support the local economy. PM me if you'd like to discuss further or ask any questions about the market. 100-150k is right about the range that's attainable to find a good turnkey property here in certain sections of the city

Hey Bob, given we are blessed with a very affordable market here in Pittsburgh, your 350-450k budget is plenty to work with. That should get you a nice Multifamily property in a lot of the good neighborhoods that have the things you're looking for. I'm a huge fan of using the househacking strategy where you live in one unit and rent out the other, and I have done that a couple times myself in a few different neighborhoods around Pittsburgh. Happy to discuss further if you'd like to PM me.

In terms of FHA - I would talk to a mortgage lender because my understand is you are welcome to have two FHA loans as long as the one you're buying & moving into is a certain mileage distance from the first. In your case if you're moving from another city/state you should certainly qualify for that. I have some great local lender contacts if you at least want to have a conversation with them so you can game plan a bit better.

@Jonathan Klemm this is good advice @Ryan G. Ideally you can vet people by getting to know them in person. I go to a few RE meetups per month that are put on by some local investors here in Pittsburgh. If you don't meet any contractors there, at least you're getting to know the person who is referring one to you

@Ryan G.  If you want some info on the local meetups here just shoot me a PM. I have some other contractor rec I'd give too if needed (and depending on where your properties are located)

@Ryan - Reach out to Omar Mohamed with Mr. Property Remodeling (508)-292-8499. He has an instagram if you want to check out some of his work. Does a lot of work for my investor clients

@Jimmy Bartlett Pittsburgh is a great market to invest in. If you have any questions feel free to shoot me a PM and I can shed some light on the market if you think that'd be helpful as you're getting started

Hey David, congrats on getting started on your investment journey! If I could give you any unsolicited advice I'd say to find someone 3-5 years ahead of you that you'd like to emulate and connect with them the best you can. That has served me well so far. 

Good luck and let me know if I can help in any way!

Hey Zac, sent you a DM. Always down for a coffee and to talk real estate.

On the mentor thing I think you'll find that will come more organically as you get rolling. Could be an agent you work with, someone you partner with on a deal, a contractor who can give you advice on projects, or just someone you met and clicked with at a local meetup or here on BP.