Found some properties looks comfortable for rehab, look for connection
Hey BP, I am a new investor and had been search properties while be exciting about my first time buying home for this summer.
However, from search on the way to Pittsburgh which is my location right now, I found some properties looks so completely gutted out of from the inside and include basements. But the best thing is that their costs (purchase, mortgage, some interests combined) looks so affordable that I can even do more than 20% downpayment + rehab together to fix them up and hold.
Since this will be my first time to start before actually do a rehab project, I would like to ask for opinions about go ahead do a rehab for a first time project or just focus on only turnkey properties from other locations.
if rehab is a good to go: I would like to look for a connection for some educations with an "apprenticeship" idea, for contract, design, and knowledge about the estimate cost for total rehab. Or, we could discuss more deep here for others to learn from this.
Here is the detail:
First properties: a multi-family type with 5 bedrooms (number of bathrooms is not in description)
Purchase price: 35k
downpayment (20%): $7k
Second Properties: Quadruplex property, description is too barely by "Not too late to own a piece of the Hill"
Purchase price: 50k
Downpayment (20%): 10k