All Forum Posts by: Stefan Slavkovic

This is just a hypothetical scenario. I’m sure the buyer would counter at the appraised value, I just wonder what options are available in the event the seller refuses to budge on price irrespective of the appraisal.

Thanks Ken! Figured as much. 

A question on creative financing with FHA loans. I want to sell a house for $100k and the buyer has agreed and is pre-approved for an FHA loan at that amount. However, the appraisal came back at only $70k. Is there any way for me to sell this house to that same buyer with creative financing on top of the FHA? I'd imagine the FHA wouldn't lend if I seller finance the other $30k.

I also noticed on Awning that when I updated the estimator to have a hot tub, the estimated revenue shot up about $30k for the year.  Could it really be that having a hot tub increases the value that much? I have no clue, the number just seemed surprising to me.

Quote from @Sara Levy-Lambert:

When considering listing a property as a short-term rental, it's important to research the market demand in the area. In Pittsburgh, it's crucial to analyze the occupancy rates and pricing of similar properties within a 10-minute radius of your home to determine if the expected rental income can cover your monthly expenses. Additionally, it's essential to consider the city's regulations regarding short-term rentals, as some areas may have stricter laws than others. With a 6 bedroom, 6 bathroom home in a prime location, there is certainly potential for a successful short-term rental in Pittsburgh, but it's important to conduct thorough research before making any decisions.
Look up the awning airbnb estimator on google and if you'd like, I can connect you with our analysts to do a deep dive of the potential revenue

 Thank you both for all your help here!  I signed up for MarketMinder on AirDNA for the zipcode where the house is located and got a better idea of everything.  I just plugged it into Awning and the estimator there showed me numbers that were actually twice as optimistic as AirDNA.  The first example house shown on Awning was actually the one that got me thinking about this.

Dennis, I’d love to potentially get connected with someone at awning to go through a thorough analysis.  

Hi Guy!  I'm also a new investor who recently joined BP.  I really don't have as much to offer as a lot of the folks on here, but I'd definitely recommend sifting through the forums that interest you and reaching out to people that are talking about the ideas you have.  It's amazing how many people on here are willing and excited to get connected and offer their help! I can relate somewhat to your situation as I myself am currently back in school and recently left my 9 to 5.  I spend all my time driving now listening to episodes of the BP Podcast that peak my interest.  

Quote from @Michael Baum:

Hey @Stefan Slavkovic, what were the estimates? I have found that AirDNA is usually optimistic. It all depends on how many rentals there are in the area.

I was thinking the estimates I saw were conservative based on the prices the hosts had the units listed for.  The nightly rates seemed conservative but the occupancy rates seemed optimistic.  A few of the estimates I looked up: 
(1) 3/2.5 estimated at 78% occupancy for $166 per night, $47.5k AR, listed at $191 a night
(2) 4/3.5 estimated at 63% occupancy for $355 per night, $81.2k AR, listed at $298 a night
(3) 2/2 estimated at 67% occupancy for $158 per night, $38.4k AR, listed at $225 a night

Our place, correctly adjusted to reflect bathrooms was estimated at 6/4.5 with a 

51% occupancy for $615 a night, $114.5k AR. 

The factors that I assumed would have been beneficial to us are that it’s one of the largest in the area and it’s arguably one of the best locations. 

Quote from @Brooklyn McCarty:

What Micheal said. 

See what other properties in the area look like. Also use pricelabs, airdna to help get more info too. 

Thanks!  I paid a visit to AirDNA and ran some comps, there were virtually no 4/4’s in the area (only 2) so I also ran some comps on 3/3’s.  A lot the estimates seemed fairly conservative, until I entered our own address.  The estimates seemed way higher than what I was imagining, maybe my estimates were just far too conservative….

Hi everyone!  My wife and I are looking to begin our investing journey by purchasing our first multi-family property, ideally a duplex in the Pittsburgh, PA area.  We'd love to connect with folks in and around Pittsburgh!  

Thanks! 

My wife and I are just getting into real estate investing in Pittsburgh.  I think our biggest obstacle is not quite knowing enough yet.  We want to go the long term rental properties route and we're both taking classes in the evenings (real estate for her and law for me) to try and kickstart our investing journey this summer.  We're somewhat risk-averse people so making the actual jump is going to require a fair amount of prior knowledge and confidence from us both.