Newbie from Pittsburgh

[Drew McKinney]

Hello everyone,

Fantastic website and forum! Been reading and learning more for a month or so, it's about time I post something. I live in the Pittsburgh area and mainly focus on buy and hold. Good friend of mine partnered together in late 08 and have acquired three single families, triplex, and a fourplex. Closing on a five plex next month. Looking to eventually get into larger apartment buildings. We both work full time, looking to invest full time within a few years.

Thank you for all the great info on this site!

Drew

[Drew McKinney]

Thanks for the replies,
Two years ago it was a little easier to find a "deal", but there are plent still around.
Bought single family townhome in a low income area for 12k put 1k into it and it rents for 500. That owner remodeled the entire thing and then lost it shortly after. All we did want paint and appliances.

Got another one shortly after that in early 09 for 9,600 dollars, put 10k into it and it rents for 800 a month. That one appraised for 77k last year, love that one.

Latest single family is under contract for 18,500 3bed 1 bath ranch, it's on a double lot. Going to put 5-6k into it and it will rent for 575-600.

1st one was a short sale other two were foreclosures.

Also bought 4 plex foreclosure in early 11, put 25k into it and it brings in 2170 a month, we pay for a dumpster, thats it. And the taxes are around 1800 a year.