All Forum Posts by: Janet Harbor

Open house this weekend.  Price below market for great returns as flip or rental.

https://www.zillow.com/homedetails/1777-Osage-Ave-Hayward-CA...

Buy a CPL cash flow positive up north like in Lawrence / Butler /Mercer county.  You can get financing.  There's a CPL selling portfolio that are willing to do owner financing or even down.

Pm me, I’ve got a guy that might be able to help depending on the details of your situation.

Did you ever find one?  Looking for a second GC

We have props in NC in the the 05 zip.  There really aren’t any great PM there’s, since most of the props are so low on the rent scale especially if your on the south side, many just don’t bother unlesss you have several props to “make it worth their while”. 

We just self manage ours, were on the higher end of rent, have a rigorous app process and lease so we haven’t had issues with tenants, so its been easy for us.  

I have props north of pittsburgh and have done some flips around the area. It might help if you check out sites like HomeAdvisor.  It will give you a general cost.  You can plug in your zip code.  Mind you it doesn’t go into any details regarding actual products but can give you a low to high avg cost.  Always, always add at least 20% to your budget for changing your mind or unforeseen issues.  Which out here, there are always unforeseen stuff you have to deal with.  

If you’re looking at a house that hasn’t been updated in 20 years (look at the disclosures), you should include plumbing, electric, roof to be on the safe side.  

If you have more questions pm me, i’ll try to help.

Unless you're interested in a heloc on the house you live in a hard money is probably your only option for flips with that high if dti

My agent is in the rock.  Jen Reilly with Berkshire Hathaway. (She's helped us with a cpl investments and continues to look at new opportunities for us).

Pm if you need more info.

Cheers @ good luck

Hi Andrew, welcome Ive got property in New Castle, what you're looking at is quite a bit of work and expense for a beginner and New Castle. Rents avg about 2-250 a bdrm and if it's only 1 kitchen / it's only a 1 unit single family with a lot of bedrooms or boarding house. Everything in town pretty much has some kind of maintenance/rehab needed. At least if you have to fix something go for the cheaper ones in town. Good luck

Hi Joseph, welcome to BP and the game of REI. I'm in north part of the burgh. My fiancé and I do investments in PA as well as CA (I'm an realtor in CA so I'm more "what's the word I'm thinking of" with deals). We have an agent here and she gotten used to it. Conventional financing will be hard unless its owner occupied/second home or you have a history of investing / being a landlord, etc. We have done cash deals on majority of our foreclosed, to save us the grief of paperwork. I don't know who you have sought out for funding but Fannie does have funding options for investors but you must be purchasing their properties. Citizens bank also does investor funding but I don't know their parameters. I also have a contact @ Mars bank, who happens to be an investor and on BP, he's been great help. As for utilities , if the reo clearly states as-is and or no utilities will be turned on, then it's up to you, and your inspection is purely for your benefit. Honestly the bank doesn't care that you're "going" to put an offer in, they only pay attention when you put that offer in. And even after that, they will only pay attention if you are the only offer or if you are the best offer. Your offer will have and inspection contingency and you can have everything turned on for a couple days. It's gonna take some calls to everyone, but it can be done. If it doesn't say - on paper/listing somewhere that utilities will not be available, then make sure in your offer it is stated as part of the inspection and financing contingency. The standard purchase agreement does have this but depending on who is handling the REO, they will have their own paperwork so to be on the safe side you should have your agent include an addendum that states utilities must be turned on. We purchased an REO in the rock without utilities. It had been vacant for a while so no one was going to temporarily turn anything on. We did the walk-thru and just priced all the worst case into the numbers when we did the offer. (It was a cash offer but it was for way less that listed) If you have any other questions, you can PM me. Good luck