Erie Pennsylvania Investment Portfolio

[T. Story]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $1,000
Cash invested: $30,000
Sale price: $90,000

I had bought total of 5 homes off another investor and decided to sell this one right before the pandemic hit.

What made you interested in investing in this type of deal?

I like to invest in very distressed properties in low income neighborhoods

How did you find this deal and how did you negotiate it?

Mutual investor friend.

How did you finance this deal?

Cash

How did you add value to the deal?

Renovated the property, got it cash flowing and back on the tax map.

What was the outcome?

A fully updated property that sold at market value after sitting vacant for 10+ years.

Lessons learned? Challenges?

Challenges were the legal code violations, more or less proving to the common pleas court we were a reputable out of state company trying to help the community not completely profit off it.