All Forum Posts by: Dominic Lucarelli

It's beautiful! Great job!

How many sq.ft. is this again? I may have missed it.

If you don't mind me asking, can you post your repairs budget vs. Actual? I think that would help out a lot of people trying to estimate their flips.

Welcome to BP! Dig into the forums, listen to podcasts, ask questions, and stay active in real estate. The more you do, the better you get!

@Josh Caldwell

Welcome to BP! And congrats on getting your first deals done. Looking forward to hearing more from you.

Congrats on getting into the game! And welcome to BP! 

Welcome to BP! In my experience, finding the deals is the hard part! Start there then you can work on the rest. Many members of BP will be glad to help.

Money is flowing into the areas around CMU and Bakery Square. UPMC is booming everywhere too. They just built two new HOSPITALS in the last 5 years. Isn't it time that Pgh gets some new housing and business development? It's been long overdue. Build build build! New tech and construction jobs are up, for sure.

Either way, you'll need to have your repairs numbers laser accurate. If/when you walk the property, take a trusted contractor with you. You both should take notes on what needs repaired and make estimates. Compare what your numbers are versus his. This will give you practice as well as the info you need to make a decision.

Good luck, and keep us posted on what becomes of it

I've got 3 I use in southeastern PGH and one in the north. Msg me for details.

Check the comps in that area (similar 3 bed, 1 bath homes of similar construction) to give you an estimated ARV. Then inspect it to see what needs repaired. By the sound of it, the property will need a porch repair, masonry work, landscaping, and windows. The owner said the roof needs replaced as well? And new kitchen cabinets? Sounds like nearly a complete gut job.

To ensure you make a profit, you'd need to work in reverse: Assuming your ARV of $95k, you'd need to be all in at roughly $57k to flip it or buy & hold, and the repairs (in my best guess from my couch) will be at least $40k. Can you buy this for less than $17k?