Quarantine Updates
Stay Connected During Quarantine
- May 31, 2020
PANDEMIC 1031 EXTENSIONS
The following information is based on a “plain language” reading of IRS Notice 2020-23. It is important for you to discuss with your tax advisor how it applies to your specific situation.
Do I qualify for COVID-19 extensions?
If you are in a current exchange and either your original ...
- May 31, 2020
Opening up to Green is a really good step, and it will help PA business survive. On a down note, nothing about the green phase sounds like we are going to have a real in person meeting anytime soon. My guess is August but things can change quickly.
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Pittsburgh, Western ...
- May 28, 2020
I know I have my rose colored glasses on here but I am really looking forward to being able to meet in person again. I think of all of the lock down stuff, I miss restaurants the most. I do a ton of meetings/ meet ups in restaurants. Sometimes with groups, ...
- May 28, 2020
Rehabbing and Wholesaling Sub Group
THE LAST Zoom Meeting This Saturday. Weekly Meeting. THE LAST ONE, FOR NOW!!!
https://us02web.zoom.us/j/82015859235
In mid March I starting doing these weekly meetings on Saturday’s. The promise was that I would do them each week as long as this shutdown went on. Well, for the real estate industry ...
- May 25, 2020
In short, memorial day is a day set aside to remember the brave Americans who went off to war and didn’t come back. The young men and women who gave up their lives so we could live in the greatest nation on Earth.
Below is one of the greatest Memorial ...
- May 24, 2020
There will be no Sunday creative finance meeting this weekend. Memorial day is too important.
In the near future, we will test out an in person creative finance meeting at some local park. It might even be the following Sunday if the weather cooperates. As much as I love doing zoom ...
- May 24, 2020
It is official, as of last week (sorry for the delay) but PA has become the 50th state to realize that real estate is an essential business
Governor Wolf Announces Real Estate Industry May Conduct Limited Business Transactions Statewide May 19, 2020
Governor Tom Wolf today announced that starting today, ...
- May 24, 2020
This is the recording that many of you have been asking for
We had an amazing broadcast May 19th with a social media expert who helps real estate investors land killer off market deals running ads.
Here’s what fellow members had to say live:
“this is priceless”
“I’m learning a ton ...
- May 17, 2020
On Friday, May 15th, the SBA issued the Loan Forgiveness Application that will be used by PPP borrowers to determine and report how much of their PPP loan will be forgiven.
Most readers know that the Payroll Protection Program loans are extended based upon 2½ months of payroll, health insurance and ...
- May 15, 2020
This weeks zoom call has MOVED TIMES!! 9:30AM.
Rehab Property Tour. A few months ago we did a tour of a project that had just started. It is a huge house in Coraopolis. Well after some issues and delays the house is done and selling in the next week or 2. ...
- May 15, 2020
I am excited to announce a special topic for our May 19th event that you don’t want to miss…
We’ve got the Inc 500 Award winning team on deck to show us how to use Social Media ads to land killer off market deals.
You can register for the event here now: https://zoom.us/webinar/register/WN_BoeJN4bGS5mnzITTtRLs_w
...
- May 15, 2020
The IRS and most states have moved their filing and payment deadlines to July 15, 2020. However, some states have deadlines that differ from the new IRS deadline. We are reaching out to remind you to check your state filing and payment deadline information. More Information on State Deadlines ...
- May 15, 2020
© Andy Jacobsohn for The Wall Street Journal
Wall Street’s wager on high-earning suburban renters is paying off, and it is raising its stakes.
Investors are flocking to America’s mega landlords, drawn by signs the companies that emerged from last decade’s foreclosure crisis owning huge pools of rental houses ...
- May 15, 2020
Rental executives say some recent move-ins chose to rent instead of buy given the economic uncertainty. Others have leased houses to get out of apartment buildings, given the contamination risks associated with close living.
“You have this squeeze from both sides,” said Amherst’s Mr. Flahive. The executives say it is unclear ...
- May 15, 2020
There is some really good stuff on here. Imagine if you had all the money you ever needed to do your deal. I am about to raise some private money myself, this is really powerful.
We had Alan Cowgill do 90 minutes on the subject. Alan is the best private ...
- May 12, 2020
Here is the pricing details and coupon code. Our meeting recording is also included.
ROI-Muse Total Access Package (Commercial and Residential) Subscription: Yearly Regular Price: $360/year Pittsburgh REIA Price: $147/year (only $12.25 per month) Discount: 59% Coupon Code: JOSHC147
Direct Sign up Link
Demo Recording Link
Regards, Joseph James President ...
- May 11, 2020
Commercial group meeting tomorrow
The Pittsburgh REIA Commercial Group will meet on Tuesday, May 12th starting at 6:30PM. The video link and dial in number are listed below.
We will continue talking about how recent events are affecting our real estate investments and all of our direct and indirect businesses. ...
- May 10, 2020
Happy Mother’s Day to all of the mothers out there. I wish you nothing but the best on your one day off this year. Today is a day to relax and enjoy your family, not a day to work. So do your best to kick back and let other people cater ...
- May 8, 2020
When: Tonight @ 7 PM (May 8, 2020)
What: software demo by ROI Muse
Where: online webinar (click to register)
Who: ROI Muse is a software company that created a deal and property analysis program to help new investors evaluate the profit potential of rentals, flips, and commercial real estate
see you ...
- May 8, 2020
Pittsburgh Investors,
First, we hope you are well and healthy and soon you will be able to move around again.
We do have to tell you our Lifetime Members are still making money (BIG Money) during this pandemic.
Our CATS system is being utilized by us (In W. PA) and others around the country daily.
Today is the ...
- May 8, 2020
Governor Tom Wolf was joined by Attorney General Josh Shapiro today to announce that he signed an executive order that protects Pennsylvanians from foreclosures or evictions through July 10. The action builds on a Pennsylvania Supreme Court order which closed court eviction proceedings until May 11 and ensures no renter or ...
- May 8, 2020
I am very excited to announce our newest Pittsburgh REIA benefit. These guys do it all so you don’t have to try and do a half assed job, or pay someone who has no idea what they are doing. These guys are real estate people who happened to create a web ...
- May 6, 2020
Creative finance webinar recording for you
Again, we had more people who wanted to be on the webinar than the speakers system could handle. For the creative finance webinar, we could only handle 100 and we had 155 signed up.
Here is a link to anyone who wants to watch the ...
- May 6, 2020
A quick look at what we have coming down the pike
I also have a company that can do a “done for you” internet marketing campaign” for sellers, renters, and private money
Lastly, I am trying to set up a deal with a company that will build websites for anyone who wants one.
Feel free to ...
- May 5, 2020
We had a full house Saturday and more people who wanted to be on the call. This is great for a couple of reasons. First, a lot of you are using this time to your advantage and learning as much about how we are going to make money after the lock down ...
- May 5, 2020
A large group of ISIS fighters in Iraq are moving down a road, when they hear the voice of an American from behind a sand dune, “Hey you scumbags! One Marine is better than ten wimpy ISIS fighters!”
The ISIS commander quickly orders 10 of his best men over to the ...
- May 5, 2020
The Housing Alliance of Pennsylvania has released a Landlord Toolkit to provide a framework of tools and resources for small- and large-scale landlords as they face rental income losses and general uncertainty.
The toolkit offers a solutions-focused approach of strategies that can be implemented immediately to manage the situation and buy ...
- April 30, 2020
Shannon Staley and Sons were able to help serve several REIA members just this month.
As a quick reminder, Steve Daniele own Shannon Staley and Sons Construction, a 52 employee (not subcontractors) construction service provider to residential, commercial, and industrial clients. Dave Caruso brought us back to REIA last year and ...
- April 30, 2020
There are two ways to view the news lately. I tend to look at them and find the silver lining. For every person in trouble, about to be a motivated seller, there is a buyer who is about to get a great deal. The news stories of economic collapse only tell part ...
- April 30, 2020
Lots of PPG paint cans – discounted $2 each Commercial paint sprayer $400 misc tools, power mowers, etc Key machines – to make your own keys Lots of locks, various types including commercial used appliance blind cutting machine steam boilers and parts used appliances office furniture and cabinets
All in Oakland
If ...
- April 30, 2020
I thought this article was interesting for two reasons. First it illustrates how badly some people in this market segment are hurting. As real estate investors, we have been trained to have more than one exit strategy, and anyone who has been a PittsburghREIA member for long would know not ...
- April 30, 2020
I know when you read this headline it sounds like we are all facing doom. I am a glass half full kind of guy and I have a strong belief that you can think your way out of any crisis.
What if we could turn this chaos into an advantage?
On one ...
- April 30, 2020
Alan is the best educator in the nation on raising private money. He covers all of the important bit that will keep you from getting into trouble with the law. You might want to print this out and put it on your refrigerator
Raising Private Money ...
- April 30, 2020
This is a really weird time. It is quite literally unprecedented.
At times, I am super excited about the future of everyone on this email list. I am also worried about whole herds of my friends and neighbors.
I am spending much of my lock down time, trying to find new ways ...
- April 30, 2020
Lastly, anyone who goes to the PittsburghREIA.com website will notice that we are making some changes to the site. We are bringing in more functionality with the goal of making it easier for you all to access information. In the not too distant future, you will notice cosmetic changes to our emails, and ...
- April 30, 2020
I am really excited about this one.
What if they could find you motivated sellers, probate leads, pre foreclosure, and private lenders. All in a done for you format. Would that be pretty exciting?
I hope so, because that is what the main speaker at our May 19th webinar/meeting will be talking ...
- April 30, 2020
I have been trying to get a feel for how various lenders are doing during the lock down. I got this email from our very own Ron Manges of First National Bank. It sounds like they are ready to lend.
Hello Josh.
Thank you for the recent phone call, and ...
- April 28, 2020
This Saturday (5/2) please join us at 10AM. We have a very special guest lined up. Joining us will be Chuck Biter and his wife Gina. Chuck and Gina are investors from Tennessee. Chuck is also a general contractor.
Why are they joining us you may ask…. well they both also work very ...
- April 27, 2020
Lastly, I am really enjoying sending out book suggestions. If you are
interested in the legal aspects of real estate, there is a company
called NOLO. That make very good books on a variety of topics. I just
ordered their book on foreclosure so I can brush up on foreclosure laws
in all 50 states.
Here is a link to ...
- April 27, 2020
I have a request from a REIA member who is looking to raise some money to buy a property.
Email me directly if you are interested in learning more about this loan opportunity and I will connect you – PittsburghREIA@aol.com
“josh,
I’m about to close a deal, but my funding fell through, because COVID
too spooky. I need $15k ...
- April 27, 2020
Our next creative finance teachers will be Jon and Stephanie Iannotti
They will be going into the nitty gritty of negotiating, deal structure, and exotic techniques like wrap around mortgages.
This one will be on the April 30th at 7pm.
Register Here
- April 27, 2020
Yesterday
was a really good webinar on notes. I am working on getting the
recording of that seminar. I am not sure how successful that endeavor
will be. National speakers tend to be sort of prickly about recording
their events. Wish me luck.
This is really powerful stuff. I would guess that less than 1% of all
the real estate ...
- April 23, 2020
One of the most valuable things I learned from my time as a US Marine and working at the Department of Homeland Security was that no matter how bad things were, if you could think of something worse, you could be thankful that you weren’t in that worse situation.
A ...
- April 16, 2020
I recently ran across two articles from different perspectives, but both hitting the same number, 25%. My belief is that this number will grow the longer we are locked down. I have no idea when we should open up but I do know that real estate is about to change. Desperate ...
- April 16, 2020
PA Governor Wolfe is apparently discussing opening up the state with the Gov’s from NY, NY, CT, RI, and Delaware. Hopefully someone will mention that Western and Central PA are in a lot better shape than Eastern PA.
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PA legislation
The General Assembly of the Commonwealth of Pennsylvania hereby ...
- April 16, 2020
Senior Housing Trends That Impact Real Estate Investors Holly Welles
If you’re a real estate investor, the ultimate goal is getting the most bang for your buck. The older population continues to grow across the U.S., and this generational shift creates new revenue streams to explore.
What trends dominate senior housing? ...
- April 16, 2020
If you are in the middle of a 1031 Exchange, here is some good news in the midst of these crazy times: the IRS has issued guidance (Notice 2020-23) providing time-constraint relief for Section 1031 Like-Kind Exchanges. Under this deadline extension language, it appears that any 45-day or 180-day deadline ...
- April 16, 2020
Your stimulus check might be coming sooner than you think
To combat the coronavirus pandemic’s harsh effect on the U.S. economy, including the nearly 17 million people who filed for unemployment benefits over the last three weeks, the Trump administration and congressional leaders rolled out a $2 trillion economic recovery ...
- April 16, 2020
It is with great regret that I inform you all that the management team of VerticalRent has decided to cease operations effective May 31st, 2020. This was not an easy decision to make. In the last 6 months, we have invested a tremendous amount of time and energy into countless ...
- April 16, 2020
I just wanted to share that we are exploding right now with everyone that does not have residual income, realizing that they NEED residual income. Here’s a message that you can share with the group.
If your Real Estate business and personal income is negatively impacted by COVID-19, I’m sure ...
- April 16, 2020
I got word from some more vendors who can help us do business
Attorney Ryan Bonner is up and working
Just a heads up, I am able to conduct closings and record documents in all counties around here. If anyone needs a closing attorney/agency, I can accommodate. Thanks, Josh.
Ryan K. ...
- April 16, 2020
Pittsburgh real estate market in the news
https://www.post-gazette.com/business/development/2020/04/09/Real-estate-flippers-sink-or-swim-in-uncharted-waters-during-pandemic/stories/202004060036?fbclid=IwAR2ZkLN6dYmbUvNCUHZranuTbAXrXpeLvoV9As9Qjkci_AOQYCsHlYjsQp8
- April 16, 2020
I reached out to a few of our vendor members.
The lawyers seem to be functioning normally for the most part. They can do some legal work for you but they cant file anything.
Closing companies seem to be sort of functioning but they cant record anything.
Some ...
- April 16, 2020
April 3, 2020
The Department of Housing and Urban Development announced Thursday the Federal Housing Administration will offer a tailored set of mortgage relief options to those with FHA-insured mortgages who are being affected by the COVID-19 pandemic and who are unable to make their payments.
Mortgage servicers may ...
- April 16, 2020
As much as I hate jobs, you do need one until your real estate investments can cover your monthly expenses. I just tripped across a local job that would be great for a real estate investor.
The Pittsburgh Water and Sewer Authority – Pittsburgh, PA 15222 $25.93 – $28.86 an hour ...
- April 16, 2020
Transactional Funding by Tod Snodgrass
Seasoned and experienced real estate wholesalers know how to find deep discount properties and put them under contract, but sometimes lack the 100% cash needed to successfully pull it off. To answer this dilemma, historically, wholesalers assigned (sold) the contract, during the escrow contingency period ...
- April 16, 2020
The Housing Alliance seeks information from landlords on the impact they are experiencing from COVID-19. Please use this 5 minute survey to share with us your challenges as well as the steps that you have taken or will be taking to work with tenants to address difficulty in paying rent.
...
- April 16, 2020
Under normal circumstances I can get this product for you, but times are not normal. You can still buy direct from the company.
People keep asking – what is Chlorine Dioxide (ClO2)?!?! And how does it work!?!?
We don’t know about you, but hearing a company tell us about their ...
- April 16, 2020
Let’s hope this stupidity doesn’t spread to PA
New York Legislators Introduce Bill To Cancel Rent for 90 Days for Workers Affected By Coronavirus Closures
Sen. Mike Gianaris (D–Queens) argues eviction moratoriums don’t go far enough to protect renters who’ve been put out of a job because of the virus.
(Erik ...
- April 16, 2020
For those of you that have followed my journey for a while, including the times when these emails were under the umbrella of Trinity National Holdings, you know I like to write these in my own words. Only once before, that I recall, was an entire column not originally crafted. ...
- April 16, 2020
How To Handle Rental Maintenance During COVID-19 BY BY THE EDITORS ON MARCH 27, 2020 MANAGEMENT & MAINTENANCE
How to handle rental maintenance, along with personal protective wear and equipment, was covered by Paul Rhodes, National Safety and Maintenance Instructor at the National Apartment Association Education Institute, during a ...
- April 16, 2020
Individuals Small Business Benefits How To Qualify Timing / Delivery
Stimulus Support X “$2,400 Check to Married Couples, $1,200 Check to Single Couples, $500 Per Child” “ If Married, Have $150,000 or less of income on 1040 If Single, Have $75,000 or less of income on 1040 Credit is Reduced 5% ...
- April 16, 2020
I believe that we can get in front of the problem and save ourselves a lot of pain, just be engaging the tenants and communicating with them BEFORE there is a problem. I hope this helps. This version of the tenant letter came from a REIA member. I have ...
- April 16, 2020
I know a LOT of you are worried about your tenants not paying rent. This seems like a pretty legitimate concern. A number of tenants wont have any income during the lockdown, or they might not have as much as they expected. This isn’t their fault, but it ...
- April 16, 2020
Starting off, if you want to track the virus progress, this site is amazing.
https://www.worldometers.info/coronavirus/
You can make yourself crazy looking at granular data down to the state level. You can track the infected numbers, the recovered numbers, and even the newest deaths you want to. ————————————————————————————-
This ...
- April 16, 2020
U.S. Steel delays 1.5 billion dollar investment in Mon Valley facility idling it in response to the Corona virus. This was going to be a big deal for the Mon Valley, hopefully it will get back on track after the lockdown.
- April 16, 2020
I have just signed a contract for one of my flips turned custom remodel. Bonus points for securing a sale during a pandemic?? She’s an attorney and sale date is May 31st, 2020 (or earlier – upon completion). When I originally borrowed for this project ($215k hard money lender has ...
- April 16, 2020
These guidelines were developed in collaboration with the United States Olympic & Paralympic Committee’s Team V Sport Performance Nutritionists and USA Wrestling’s sponsors recognized below.
Match energy intake to expenditure
Maintain hydration levels, between 96 and 128 oz per day
Avoid crash dieting
Eat a well-balanced diet with foods rich in ...
- April 16, 2020
Any businesses that are cash-strapped and could use some help during this very unusual time, I have some time available and can assist any company with their SBA loan applications or if they need other consulting assistance (cash flow projections/debt repayment options), I can do that as well.
We ...
- April 16, 2020
33% cash on cash -3-unit apartment 40k underpriced- “MORNINGSIDE” Pittsburgh Pennsylvania.
With a purchase price of $266,000, you will be purchasing this property for $40,000 under market value.
Three unit apartment building is a class C property located in a class B neighborhood on the east side of Pittsburgh in the Morningside ...
- April 16, 2020
Section 8 inspections are still going on but with a twist. They now have the landlord filling out a self inspection form. See below
I was suppose to meet with the Section 8 representative tomorrow however the Covid-19 Pandemic has changed the way they check the apartments. No ...
- April 16, 2020
Shannon Staley and Sons Construction is a 52 employee (not subcontractors) construction service provider to residential, commercial, and industrial clients.
Because we choose to employ our labor, as opposed to subbing it out, our two primary deliverables are labor reliability and speed. Our labor goes where they are told to ...
- April 16, 2020
First…Set a schedule every day: and focus on this one word:
The word is EXERCISE:
Exercise your body: Get up and get moving. It helps your immune system and keeps the positive endorphins flowing in your brain to keep you from getting depressed: take a walk, get some fresh ...
- April 16, 2020
Before I get into a diatribe about cash flow reversal, I need to define what cash flow is. Cash flow is the cash that flows to your bank account every month from your rental income, after your expenses are paid. Cash flow is the safest metric to use when choosing an ...
- April 16, 2020
Global Derivatives: $1.5 Quadrillion Time Bomb By Stephen Lendman Global Research, August 24, 2015 Theme: Global Economy
When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives.
Along with credit default ...
- April 16, 2020
This current order is only for 2 weeks, and it mentions evicting people from their house, but unless I am missing something it doesn’t protect landlords from having their rental houses taken, you just cant kick the tenant or other occupant out. Hopefully this is just a blip and over ...
- April 16, 2020
During this period of volatility in the financial markets we have been receiving inquiries regarding the safety of the funds that we holding on behalf of our Exchange customers.
A major role of a Qualified Intermediary is to safeguard taxpayer funds during a 1031 Exchange. Since Qualified Intermediaries are not regulated ...
- April 16, 2020
The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those ...
- April 16, 2020
Legislation that could be good news for some of us
IF my reading of this bill is correct, it would let owners transfer property from their personal names to an entity name WITHOUT having to pay transfer tax. It is in committee at the moment but I can’t imagine a ...
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