Two unit house with outstanding views and neighborhood

[Account Closed]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $150,000
Cash invested: $150,000

2 unit occupancy house.

Three levels--top, street, basement.

Outstanding view of city.

What made you interested in investing in this type of deal?

The neighborhood and the view.

How did you find this deal and how did you negotiate it?

Craigslist.

How did you finance this deal?

30 year loan

How did you add value to the deal?

gutting it and re doing everything

What was the outcome?

still working on it

Lessons learned? Challenges?

Never move to a place and buy without first understanding the culture. Pittsburgh is highly insular as a culture and it has been almost impossible to find honest, solid workmen. I'm on my third roof, for instance.