All Forum Posts by: Angela McDonald

This property is a 2 bedroom 2 bath home with 1050 sq ft of open livable space. Low taxes!!!! Priced to go go go!!!! Investors paradise with rental comps in the area from $1000-$1300 a month for $65k. Property does need some repairs. As you see in the pictures there WAS a leak and now the drywall needs replaced. Repair estimate is about $12,000-$15,000

This is a 5 unit building in the heart of country living outside of Shickshinny city limits in PA! The building does need repairs but with it consisting of a 3 bedroom unit, (2) 2 bedroom units, (2) 1 bedrooms units!!! Additionally there is a possibility of storage or an efficiency apartment on the street side, to add to the potential!
The property needs mostly cosmetic repairs other than needing new pipes run to the septic tank. There is an on-site well and parking in the rear of the building!
THIS PROPERTY IS A MUST SEE!!!!! More photos available upon request (having trouble loading them to ad)

***Contract of assignment. End buyers only! Additional pictures available upon request. ***

Bring your creativity and tools! Available we have a top/bottom duplex. Each unit can be 2 bedrooms and a bathroom. Knock the garage down for tenant parking and add value!! 

Some plumbing and some electrical has been started but everything else needs to be completed.  The property has what looks to be brand new siding and new windows! 

**Assignment of contract**

Purchase $15,000

Repairs $80,000

ARV $120,000-$140,000

Rents in the area 800-1000

***ADDITIONAL PICTURE AND ANALYSIS AVAILABLE UPON REQUEST***

Does anyone have the specifics of BPCon in Cancun? I missed out this year but I refuse to let next year's conference pass me by. I want to get my tickets and room ASAP! Also, do I need a passport? Thanks, everyone

@Joe Villeneuve Well I chased the deal until I lost the bid. I just kept it on my watch list because I had an idea that the person who won was either a flipper or wholesaler and it would end up back on the market. I didn't expect it to come back on the MLS so much later, with no work completed. Either way, I continued to seek out other deals. Just as I was about to pounce on another deal, this popped back up. I have not yet closed on the property. I have my offer ready to submit! So to help you, help me: numbers would help!

So this is a 3 unit property. Units will rent for $875, $865 and $855. The cash flow on the property will be $1,090 a month. The asking price is $79,900, which even my realtor says that is ridiculously high right now, in its condition. It is going to cost me 40-50k for renovations and have an ARV OF %150,000 at a low end. I plan on putting an offer is at $30,000. I will walk away at 50-55k sale price. After analyzing the deal I have a 20% COC ROI after 1 year. What are your thoughts???

I need opions and thoughts, to help me think more outside of the box right now. I have a multi unit property I been chasing for a very long time. I had been trying to get it under purchase contract for about a year when suddenly it came up for upset auction! I was excited, registered as a bidder for the auction, showed up auction day an lost it to a buyer who had $2,000 more in her pocket. Frustrating!! December 2021 it showed up again for sale, this time on the MLS!!! That buyer from the auction did absolutely nothing to the property; but thanks to my education from Bigger Pockets and knowledge of our county and it's record keeping, I know what this woman has into the property in finances!! I quick refinanced my primary residence (FHA) to purchase this multi unit. I waited until I had a date for closing on my refi to look at the property, because I didn't want to get too far ahead of myself then seem unethical to the current owner. Now I'm ready and scheduled a showing on the property but now my mind starts spinning. I'm going to have to take almost all my equity from my refi to put the down payment on this multi. It a great cash flower but do I have enough cash then to fix it. Maybe I can start with fixing one unit and get it cash flowing to fix the others. But then it might take a little while. Dang it!! I don't want to involve a partner because I want to know first that I responsibly can do my first deal without the burden or stress of loosing someone else's money. If I'm going to loose, it's going to be all on me, I'm not going to take someone down with me. The property is a great deal though, how can I loose! I got so many questions in my mind about how to rehab this property. Then how to get my next deal with no cash left. BRRRR right? I want reassurance I'm not going to get myself stuck in only one unit, that I can move forward and also how to make the repairs on the multi. Any thoughts on my dilemma????

@Sher J. I do plan on keeping it a SF. Although, a duplex here in PA, traditionally is taxed higher than a SF. On this property though the savings would cost me more to achieve than it will yearly! 

I just listened to a podcast with Brandon and Sergio talking about zoning issues! I came right home and jumped on my PC to investigate my county website to see if any of the properties I just analyzed had any zoning concerns. Sure enough, there is one! Although, I'm not sure if I should be concerned about it! Brandon and Sergio were talking about a property NOT being zoned as a Duplex, whereas I have a single family I was about to place an offer on, that IS zoned as a Duplex, but it is a single family property! Should I have conerns? I already plan to use the zoning as leverage to possibly get a better deal, but if I am going to get tied up in some legal battle, I would rather just sit on the analysis and stay quiet! Opinions please!!

@Bjorn I am sure I will but this one throws me for a loop. This is not any A/A+ community. More like C/D-. These landlords here seems to think they have multimdollar properties in a $50,000 community!

@Jill F. I wouldn't either especially when I see no repetitive legal actions since the case. Thank you!