Investors typically want to stay within the original budget.The only way to do this is to stick to the plan and avoid COs!

I’m excited to take my first steps into real estate investing and have decided to focus on Pittsburgh for my first property.I’d love to hear your thoughts on:*Neighborhoods or areas in Pittsburgh that are good for investment and typical price ranges I should expect.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

While they typically have considerable deferred maintenance, we're getting great terms.

@David F.As Russell mentioned co-ops are probably 1/2 the price of a condo and you would also have extensive costs to set up a co-op and typically it’s my understanding the builder funds the first 1-2 years of reserves.

You'll have access to owner occupied loan products, therefore saving on your down payment, typically 3-5% compared to 20-25% for non owner occupied properties.

The average home value stands at $562,718, marking a 5.1% year-over-year rise, and homes typically go pending in approximately 30 days.

A monthly fee (typically around $5-20/mo) is added on to the payment.

It's good in that they don't have a lot of sale pitch, typical none in general meetings but ccasionally they bring in people with programs.

Additionally, how many calls does it typically take you to successfully close a deal using this approach?