All Forum Posts by: Chris Good

PM sent.

Hi Brandon, welcome to bigger pockets! I personally invest in the Pottstown and Harrisburg PA markets and have clients that invest in other areas of PA as well. I'd be happy to chat learn more about your real estate goals and share what I've learned the past few years. 

When have a basement where mold might be an issue, I put a dehumidifier in that has a pump and connect it to the drain line. 

https://www.homedepot.com/p/Ho...

I'm an investor/agent in the Harrisburg area as well, feel free to give me a call and I'd be happy to try and answer questions.

Congrats on a successful deal Brian! 

Hey Gina, Sorry to hear about your challenges. Based on my experience, is a good chance the pipes will freeze during the coldest months if there is no heat in the basement, However if the basement is fully underground it will take a lot less heat to keep them from freezing. I don't know the size of your basement but would it be practical to install an electric baseboard in the basement so that you can keep it above freezing temperatures?

Investment Info:

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

Purchase price: $60,000
Cash invested: $25,000

2 apartments

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

Good price

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

They responded to a letter i sent out. There wasn't much negotiating, I offered 60K and he accepted.

How did you finance this deal?

Hard money

How did you add value to the deal?

painted both apartments and installed new flooring, Replaced the roof, added 2 boilers, added water meters for each apartment.

What was the outcome?

I was able to refinance it and get my money back.

Investment Info:

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

Purchase price: $125,000
Cash invested: $30,000

4 one bedroom apartments

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

It was something I could afford at the moment.

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

This was my first investment, I found it on loopnet It was listed for 135,000 and a purchased it for 125,000 I negotiated it simply by asking if they would do 125K.

How did you finance this deal?

I had some money saved up for the down payment and the rest was financed by a local bank.

How did you add value to the deal?

I've updated one apartment so far and will update the others when folks move out.

What was the outcome?

A good solid cash-flowing property that gives me very little trouble and has had some nice appreciation since I've purchased it.

Thanks for the kind words Brandon and Micheal!

Thank you for the kind words Jason!