All Forum Posts by: Corey Drexler

Chris Mylan and my budget all in is 100k...do you have any experiences with foreclosures?

Chris Mylan glad to see and an out towner know his sub markets. But I have been looking in forest hills, turtle creek (closer to monroeville), Brookline and overall just somewhere close to where I live now since I'll be doing an owner occupancy fha ..the numbers I have been running I have been averaging about 100 per door. Just wanted to make sure this was a good "rule of thumb" if you will. Since this is my first property...it's need to be a good deal so it doesn't screw me in the long run

I am looking for my first property. I want to know how much cash flow I should shoot for? At worst is only living for free considered a base hit, obviously I should shoot for positive cash flow, but how much per unit (considered all expenses are taken care of). Any help would be greatly appreciate. Anybody in the Pittsburgh area or anywhere, my ears are open.

Joel Owens thank you so much and yes that's a very good point. I don't think managing more than one tenant for my first deal isn't something I couldn't handle. I should be fine so yeh that point you made is really valid.

I'm currently searching for an investment property and plan on house hacking. Don't know wether to start with a duplex,triplex or a quad for my first rental property. What factors should I consider when deciding? If anyone from Pittsburgh has knowledge of the Forest Hills area or Munhall area I'm all ears on the pros/cons of those 2 locations. 

My friend has a house he wants to sell. I think this is a perfect chance to make a wholesale deal. His realtor is making 4K guaranteed. The bottom dollar is 65k for the house. Houses around that area are being sold from 80k to 100k and this house needs the floors restained, needs paint inside and out and that's all I know for now till I check it out for myself. So when there is a wholesale opportunity what is the next step. How do I reach out to potential buyers or investors to get them interested. How do I play these numbers to where I can make some money? Anyyyyy information would be greatly appreciated as this is a learning experience for me as wel.

When will the next meet up be? I would love to attend

Jose Hernandez sorry to respond real late but yeh send me an email so I can take a look at what you got going on. I'll message you with my email address

@Andrew Li from what I could tell the houses needs paint, remove carpet but some hardwood in and then update kitchen and bathroom. And honestly I knda but eyeballed the ARV but I have my contractor who I will have look at the house with me in the future, if I decide to go through with this one. I kinda figured winter played a part into and we all know Pittsburgh weather sucks sometimes so Im glad you gave me some feedback on that. THANK YOU

@Bob Mason Thank you for your response and yeh you guys are absolutely right and will not do anything till I have those people ready to go.

@Matt McCarter i dont mind wholesalers but I dont want to be taken advantage of, how and when do you kknow you can trust a wholesaler?

@Dominic Lucarelli well the comps were from 100 to 115 so maybe my ARV was a litle high before I met with a contractor. Ill have to get my realtor to show me the house but the floor plan is nice and its in a nice area, somehwat a busy street but an elementary school located only blocks away. thanks for your response you definitely asked good questions for me to remember to ask myself and my contractor.

@Marcelsio Woods I hope everything runs smoothly for you over there in Arkansas. I need to educate myself moreon the 70% rule as well. But thanks for the support I wish you nothing but success as well. 

@Peter Vekselman sorry for the late response and thank you for your input but I like what you said there "trust but verify". I havent actually gone into the house just yet but I havent made a deal yet but I have friends who work in each of the fields that would require to flip a house. But trust me ill remember what you said and sorry you lost out on those deals.

@Joe Villeneuve But it seems like a good deal and unfortunately i havent made my first deal yet so Im hesitant on what I should do in this situation. But your probably right, Il have to study that areas market a little but more.

@Quarn Corley BIG THANKS to you. I appreciate the good vibes. But yeh I need to study more on how to make sure the deal is right. Myabe my post was a little premature. But I hope your market is treating you well. 

@Anthony Angotti the comps are from 100k to like 115k. So maybe the 125 to 150 number was a little to high. The house was locatedin Stanton heights, near Highland Park and Morningside; any info on those areas?