All Forum Posts by: Anthony Martin

Reaching out to see if anyone would be interested in partnering on a duplex out in Sheraden/McKees Rocks area. Just completed my first BRRRR and looking to get into the next opportunity. I made a lot of mistakes but wanting to put what I learned to the test and hopefully draw from someone else's experience as well. If you're interested let me know and I will send over the analysis for the property.

Nick, I think it's right on the cusp of turning into a B neighborhood as more money from investors starts flowing in. One recent flip/new construction is currently listed at $499,000. Way over priced for right now but I could see it potentially appreciating to that value in a few years.

Andrew, I bought this property in Clairton, PA. Currently in the middle of the refi process and will have to leave some money in the deal. Wasnt the perfect homerun BRRRR, but it taught me a lot. Looking to pull $45,000-$52,000 out.

Investment Info:

Townhouse buy & hold investment.

Purchase price: $12,000
Cash invested: $45,000

First BRRRR rental. Learned a lot of lessons.

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

Wanted to get started building wealth

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

Friend who wasn't able to close

How did you finance this deal?

Cash

How did you add value to the deal?

Full rehab

What was the outcome?

Finished rehab and placed tenant on section 8

Lessons learned? Challenges?

Always manage your project and create a project schedule. Make sure everyone is clear on the objectives, budget, and timeline.

Millvale isn't the worst place to invest but it isn't the greatest. 

Pros: 

1. Good school district

2. Growing gastropub and microbreweries 

3. More investors moving into the area so homes are slowly starting to appreciate in value 

Cons:

1. A lot of drug use 

2. Hilly and horrible parking

3. Flood zone

Hope this provides a little insight. I live in Millvale as well.

Hello Matt,

I'd like to join the group! Looking forward to meeting and networking with everyone! Thanks in advance!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Investment Info:

Single-family residence wholesale investment in Pittsburgh.

Purchase price: $45,000
Cash invested: $25
Sale price: $64,000

Morningside wholesale. 3bed/1bath bungalow. Owner in distressed situation facing auction. We were able to get her mortgage balance paid off and put about $25,000 in her pocket in the process to get her to her next destination in life. Was able to wholesale to an investor that got a really good deal on the home with an ARV of $185,000. We were able to benefit everyone in the transaction which is what we strive to do at GPF Worldwide.

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

Owner was in a distressed situation and we wanted to help her put of a difficult situation.

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

Cold calling. We negotiated by listening to the customer's pain points and coming up with a solution that benefited everyone.

How did you finance this deal?

Cash

How did you add value to the deal?

By acting as a transaction specialist between Seller and Buyer. We got the Seller the money she need and the Buyer a stellar deal in a hot area!

What was the outcome?

Deal closed 03/11/2021

Lessons learned? Challenges?

Never JV on a deal because you can't control the process. Trust in the process and your own abilities and seek advice when you are stuck. Exhaust all other options first.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

JV with another wholesaler

Hello BP Community,

I am a wholesaler in the Pittsburgh market adding flipping to our business model. I saw a few condemned properties around the city that looked promising. Anyone has an knowledge on how to obtain these properties? I've browsed the county website and downloaded the spreadsheet with the list of condemned properties. I've spoke with Russ Blaich, but I'm still not getting a definite answer anywhere on how to obtain those properties. Thanks in advance!

Thanks for the suggestions. I will look into them as we move forward with scaling our business.