First Investment Property - BRRR Pittsburgh, PA
Well, I started out looking for a flip, but found a 2/1 that makes a good rental, so I'm going to hold onto it. It's an REO that I have under contract for $32k. It needs around $40k worth of work and has an ARV of $120k. I should be able to rent it for $1000 a month once it is updated. Not a huge cashflow per month, but after I refinance, I'll make $250 a month after I take out mortgage, taxes, property management, vacancy, and maintenance and insurance.
I'm very excited, but also terrified in moments. Now I just need to keep the rehab on budget.
Here's the zillow listing for anyone interested in looking at the before pictures. http://www.zillow.com/homedetails/235-Park-Ave-Bel...
Tanya
Most Popular Reply
@Tanya Bass best of luck! Great to see someone getting started. I'm getting started on my first as well.