All Forum Posts by: Shawn Pennington

I own a rental in Nashville and get 1%, but there is no way could get 2%

That said.....Ive been looking at some multi-family duplexs and such in certain parts of Pittsburgh and I still think 2% maybe a stretch...but i think could get close.

I'm new here to, from south buffalo.....love everything about buf except real estate taxes..they're brutal lol

I've only bought one short sale, in Kissimmee, FL...everyone told me it was gonna be a LONG process etc etc, but for whatever reason I lucked out and closed within about 45 days! I'm sure that won't happen again...but I guess it all depends on the bank. I did a little extra heavy duty title searching based on the circumstances of the previous owner.... But other than that it flowed like a normal sale.

I should clarify....I'm speaking of properties in the south towns, orchard park, hamburg, Boston etc areas....RE Taxes in this neck of the woods are so high ...obviously there are pockets of lower tax areas but this is kinda where I'd like to be

New here from the WNY area, hate that I JUST missed the meeting this week...looking forward to the next!

Hi my name is Shawn Pennington, I live in western NY about an hour south of Buffalo. Been investing in RE for 4 years and slowly but surely building my portfolio and learning. I have property in TN, FL, and OH. My last two deals I bought were a short sale and a foreclosure and both were steals. I've pretty much decided from this point forward I'll never pay retail for a property again :-) Just discovered BP and the podcast in the last few months and have been blown away by the wealth of information and camaraderie here! Looking forward to learning from you all and contributing!

Was curious if anyone had any insight into owning rental props in the Buffalo/WNY area? I'm a transplant here and all the properties I own are out of state (FL, TN, & OH) I would love nothing more than to continue building my portfolio here close to home...but real estate/school taxes are so insanely high here....I just don't see how anyone does it and make it worth the investment? One guy I know here owns a six-plex, his family has had it for years...said the only reason it works for him is because he owns it free-n-clear Thoughts?