All Forum Posts by: Kate Hall

Awesome Potential!!

Semi-detached 3 bedroom 1 bath, 1289 s.f. Marysville Boro home on quiet street. Full concrete basement and walk-up attic. Town sewer and water. Low taxes. Oil, steam heat.

House's exterior is in great shape. Just needs to be completely updated. Also needs a new boiler or boiler repair. I personally would convert to electric.

GREAT rental! Rents from $850-$1,100/month. That's a 18% cap rate at $950/month!
Or Fix and flip!
ARV: $87,000
Fix-Up: $20,500
Potential Profit: $20,000 - $25,000

Close to major routes and easy access to Harrisburg.

You can't touch a house in this area for this price. Just check resale prices and rents on popular websites. Won't last! Cash buyers only!

Please contact me for figures and details! I have the number from the BP Calculator for both as a rental and a flip.

Thanks, Shaun!  I'll look into that!  I appreciate the info.

Kate

I just bought a 3 unit for $20,000. It will rent for $1,600 + total/month after some fix up. It's not a dangerous area at all. Just extremely "po-dunk." There's a big difference between a rural, cheap property and a ghetto, cheap property. My renters are low-income decent people, but not harmful. I'd never invest where I don't feel safe to walk. There are some great properties out there if you turn enough rocks over. 

Hey BPers!

I bought a 3 unit near Harrisburg, PA for cash last week for $20,000. I'd like to do a cash out refinance to use the money to fix it up. I'm looking for a reasonable loan without astronomical rates and without points. Even a private money lender would be a great option.

Any insight would be appreciated.  Thanks!

Fantastic Flip! How many days was it on the market? Did it sell around the Holidays? Mt. Rainier is a good first time home buyer area. I invest in the same area. DC, MD & VA. Just wrapping up a condo rehab in Adams Morgan. Way to go!

Thank you! Yes, I heard that podcast. 

I'm sure we'll talk in the near future! :)

Hey Christina,

No kidding?!  Well, oddly enough I also invest in Silver Spring, MD (although I live outside of Philly) and I'm finishing up a condo in DC. Hah. My twin lives there, so I started investing in that area as well. This particular house is in my childhood hometown, where my parents still live, so I know it well and invest there as well.

Let's keep in touch since you're in MD. Do you do wholesale, flip or both?

Hi BP Investors!

I have a single family house that I'm selling. I was going to do it myself since it's exactly the type of house I love to flip, but there's a rental that'd I'd like to acquire, so I don't mind moving this one on to someone else to free up some cash. This is a bit new to me being on the wholesale side because I'm usually doing the full renovate and flip, but I thought there'd be no better place to list it, since I don't have a buyer pool. :)

Here are the numbers:

ARV (After Repair Value) of $159,000 (My Dad fixed up and sold a home 2 houses down a few months ago for $189,000, so I'm going conservative), minus about $35,000 in fix-up. You'd want to cosmetically change it and not overdo it. That puts you at
$159,000 - $35,000 - $79,000 = 45,000 net profit (minus any Realtor commissions and closing costs)

If you use the 75% rule the numbers are:

You can see pics here:

http://harrisburg.craigslist.org/reo/4756780002.ht...

Thanks and please message me if you're interested or would like more details.

Kate