All Forum Posts by: Andy Ballester

Recently purchased duplex in Swissvale, superb of Pittsburgh PA. Bought site unseen purchase price 22500  sold 10 yrs ago for 48000 but highly neglected 2 unit 1st floor unit 3 bed 1 bath. 2nd floor unit 2 bed 1 bath. 80% done with remodeling. As I'm painting exterior of house today I had 3 people come ask me if the property was for sale. This house is in a C- neighboorhood also no utilities are separated was not in budget to separate after property is complete I should have about 16000 into it total rehab taxes closing cost of 3500 all in at 42000 I bought this property specifically to hold. And was going to sec 8  the property neighborhood probably 25% sec 8 this is my 2nd purchase 1st property better neighborhood and is rented to a good tenant. Been doing some research on sec 8 don't know exact numbers but was told all utilities included up to 1200$ a month for 3 bedroom and 1000$ for the 2 bedroom . I have gone over the numbers and pretty much verified from past utility bills. Taxes and insurance property should run me between 1200 and 1300 a month. Potential cash flow of 900 to 1000$ a month. Selling this property I believe I can get between 75000 to 80000. Had 3 people come by today was caught off guard. One a realtor who asked if I wanted to market the property with her. I'm in a major deliema. Property is potentially a cash cow as a hold investment. Or potentially profit 30 to 35000 for 4 weeks worth of work. Also forgot corner lot garage enough off street parking for 4 cars. So the question is what would you do.

Here is what I'm guessing what happened. He maybe a contractor with a  lot of work, with some big jobs lined up. You call him over for a small job that may not be worth his time and effort. He throws out a high number and my guess is probably 5% of the people may say sounds good when can you start , and he makes big money for a small job .

Just one last update, after being extremely frustrated I decided to send one last email to listing agent . Laying down importance of gaining access to property . Also saying I will be reporting you to this that and the other . (3 days ago ). I gave him 24hrs to respond or I will be forced to proceed with actions,  that night I received 3 emails,  who is your listing agent,  I'll send codes right away,  also sent codes to title company. Also would like to discuss your threats.  My response there are no threats,  I just want to close deal and you can disregard all statements . So after he gives codes,  next day my agent goes to property no lock box and property is completely secured , He has contacted listing agent and will be sending a maintenance person today for assistance with new lockbox.  Frustrating  ordeal but  looks like we are going to close this deal. (Out a 1000$ early incentive closing bonus,  lesson learnt I will never do business with him again ). No matter how good of a deal. 

@Wayne Brooks Title company tells me  township will not allow sale until dye test is complete all I need is to gain entry for plumber to do the test listing agent is refusing to meet plumber. As I have said in previous post I'm closing from overseas,  otherwise I would of been to the house to unsecure it myself and let the plumber in to complete the deal. 

Once more at the top , Broker still has property listed for sale,  under contract , earnest money deposit,  closing date set, illegal not illegal,  am I missing something Anyone.  ????????

One more time at the top, just not sure why listing agent has this property still listed for sale isn't this illegal .?????

Just a quick update I just got email from title company they told they just got off the phone with listing agent and we are not getting anywhere with this guy, (not sure of conversation ) they faxed  over all closing procedures also faxed them to my buyers agent and was told to proceed with closing I'm don't know how this is going to help with DYE Test , I'm sure listing agent is not going to give key code for property. Also just got off of there website and looked at there property listing for sale and the property is still listed for sale at 12000$ more than what I'm paying original listing price, I have this Under contract I have placed earnest money and today received a closing date of July 7th from title company. I'm still a new investor but I'm pretty sure something is illegal and just plain wrong about this does not say under contract says For Sale. I was thinking about calling and inquiring about property just to see what they say. THOUGHTS???!!!

 I've been working with there title company for this whole process the lady whom I have been corresponding with has been extremely helpful but she has a problem with listing agent responding also. Recently she has had brief contact with seller waiting on email reply of how we are going to move forward .

Not sure why all of the repeated posts 

 Great advice I think this is what I've been looking for and will pursue after I try to contact seller today . And will send this to broker exactly how you spelled it out. Why I love this site I appreciate everyone's replies.