All Forum Posts by: Helen Bollinger

@Chris Cerimele No contracts signed yet, but there's a showing today.  Good luck!!

Hi @Ian Hoover -- Net operating income is $17,000  ($20,100 rent - $1900 taxes - $1200 insurance) / $60,000 sales price = 28% Cap rate.  This doesn't take into account maintenance.  It doesn't take into account vacancies because this triplex is always filled quickly with the University there.  If you want to take into consideration these factors and have a more conservative cap rate, you certainly can.  Either way, it's a great deal with comps at $119,000.

By the way, this is 35 miles outside of Pittsburgh.  Forgot to mention that for nonlocal folks!

Turnkey Triplex available for $60k in Greensburg, PA -- walking distance from Seton Hill University.  Great location provides for many grad school tenants.  Cap rate of 28%

Triplex has good tenants in all units.  Current monthly rent is $1,675 w/ room to increase in next lease.

Inside went through a total rehab. New plumbing, electrical, all new windows, carpet, paint, tile, furnaces, hot water tanks, brand new installed fire alarms and monitored by SSA. Separate utilities.

Only work needed is moderate external, approximately $3,500 to fix a few windowsills, gutters, and paint the porch.  Seller would even do this work at a great rate with his construction company.

Deal needs done soon or seller will list on MLS for a higher price. Priced at $60,000 firm, cash only. Zestimate is $92,773 with a recent triplex comp selling for $119,500 in August. This truly is a great deal that comes with tenants! Call me at: 724-916-5005 for more information or email me at: [email protected]

@Anthony Angotti I'm not sure, to be honest.  Maybe a realtor or lender on here can answer that for you.

That's what I was thinking you meant. I know this is an easy route for many investors to get started with. I would just caution you because the rental would not be under an LLC and it would be owned by you personally. Meaning that if anything every happened, your personal assets could be at risk. Maybe speak to an attorney? Not trying to discourage you, just want you to be safe :)

Welcome, @Anthony Angotti!  Congrats and best of luck on the business venture!  

By house hacking, do you mean you live in one side and rent out the other?

@Randy Hunter - Yes, we live in Canonsburg now but grew up along the route 28 corridor in Freeport.  We go to: http://pittsburghreia.com/  It's really active.  We have found all of our contractors there, lenders, friends, etc.  There's FB sub-groups, too.  Feel free to find me on FB and get in touch when you get up here!  We can all complain about how cold it is, together! :)

@Randy HunterEveryone moves back lol!  I went away to go to USF and FSU and came back.

@Ben Smith Welcome! My husband and I are investors here in Pittsburgh. We have a total of 51 units and are on our 4th rehab/flip. Hope to see you at the Pittsburgh REIA meetings, great networking there! :)

Do you know what geographic areas you want to be investing it? Are you looking for turnkeys or rehabs?  If you could provide some more detailed information, us Pittsburghers can probably point you in the right direction for what you're trying to accomplish :)