All Forum Posts by: Nicolina Nanni

@Calvin Ozanick - Dm'd ya!

@Shai Flax - A great contractor is someone my partner and I have yet to add to our team. As a new investor without an actual property, at what point would it make sense to begin developing a relationship with a (or multiple) contractors?

@Darius Ogloza Hey there neighbor! I do consider having my extended family in the area as an advantage -- even if it just means having a place to stay while seeking out properties. I am also considering local investor partnerships, which may alleviate some of the burden of having to travel to see opportunities.

@Ryan Alexander Thanks for the reply!

The amount of updates we are willing to do is still something I think I need to define, so thank you for pointing that out. On a scale of 1 being turnkey and 10 being a flip, I would consider 3 being standard cosmetic updates (carpet, paint, with some structural work) that do not go past my 10k planned budget. Does that make sense? 

I have been leveraging Area Vibes and Niche.com for determining if the property is in a B neighborhood and getting my agent's input.

My partner and I are currently looking in Butler, Beaver, and Washington County.

Hello BP community,

I live in the Bay Area and would like to purchase my first multi-unit property in south western Pennsylvania. I am from Pittsburgh and this is where I am most familiar with the neighborhoods. Given that I am out of state and a first-time investor, I’d prefer my first property require minimum upfront updates. I have spent the last few months researching and evaluating deals, however, nothing seems to be hitting my numbers and I am unfortunately feeling a bit stuck. Below are the high level criteria I am basing my decision on before making an offer on a property:

• B/B- Neighborhood
• CoC >=8%
• Asking price <=180k
• Required updates <=10k

For the Western PA investors out there, is this doable? Or have I missed my opportunity for getting a rather turnkey multi-unit at this price point?

For the out of state investors, how have you successfully managed putting in a bit of work in on properties while not being regularly present? What kind of team do you need to have in place? What works for you for engaging with this team?

Thanks in advance!