All Forum Posts by: Abraham Berkowitz

 Thank you so much Amanda, I actually love seeing the transformation.

The flip took about 5 months.

Hi @Aaron Wolman are you still looking to split your utilities? I have 1 great plumber who did it for me for a 3 unit for 12K. PM if you are still interested.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $185,000
Cash invested: $25,000

I bought this 2 Unit plus a 3 car garage property, for 185,000, I invested a $25,000, and fill it up with tenants, for the main Apt of 3 bedroom 2 baths is rented for $1500, and the smaller Apt of 1 bed 1 bath is rented for $1,100, and the garage is rented for $400.

and I refinanced it and I took out all my money and now its cash flowing for $800 a month.

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

The property was in a nice condition, and i knew that I could take out all my money that I invested through the refi.

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

I found through Zillow and negotiated direct with the listing agent

How did you finance this deal?

DSCR loan

How did you add value to the deal?

I did a cosmetic rehab, a new painting and new flooring, and separated the heating, and did a few touch ups in the baths, and power washed the front siding.

What was the outcome?

I have a $800 cash flow without taking out money from my pocket, and I am building wealth through the tenants paying up my debt, and the property is appreciating.

Lessons learned? Challenges?

Did there is a possibility to find good deals through the MLS

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, I am hooked up with great real estate brokers wha I have a great relationship, and great lenders, and great contractors.

Hi Jordan,

I am an investor in Lackawanna county and Luzerne county NE PA, if you have a good deal in this area, I would like to invest, thank you.

 I don’t have enough of experience to advise but l could share some experience's that I went through.

I found this deal through my agent that I had build a great relationship, and she is keeping on bringing me deals because I know what I want, and I am closing easy, so she is not working extra hard and not wasting any time.

I a m also connected to great investor contracters that are reliable and know their job, and they know and they understand that I am not here to over remodel, I am only here to fix things that end user will appreciate.

Another thing that I learned is, that when one take a hard money loan, for construction  he needs to make sure that he lists the right amount of money at the right item for example if the demo will cost you $6,000 make sure you write in the scope of work that it will cost $6,000, because they will only pay you when you finished with that item, I didn't know that.

And you also need to make sure that you have some extra money to start the construction till you could take the first drawing from the hard money.

And of course you need to make sure with your broker what the ARV will be especially when you don't have enough of experience in the area.

Another tip that I saw in my experience in general that a contractor that will tell you that they're doing everything by themselves for instance they're doing roofing and plumbing, and electrical themselves, don't know what they're doing.

That's for now good luck.

Yes Kate, it was a pleasure dealing with you, it was a really smooth transaction.

Check my profile for a few more pictures.

I will share now my first flip that I did in the Taylor PA Area.

It worked out great, I got a duplex with 7 Bed 2 Baths for 150K through my agent, the property was in a bad condition, full with trash, we cleaned it up, we did new siding, new kitchens, remodeled the Baths, new paint, fixed some minor plumbing and electrical,

and new flooring Total of 60K, and sold it for 280K, the profit was over 50K.

here are some pics

@Janet Lancaster Thank you soo much for sharing your experience and advice.

 Do you know any people who do flips in those markets?