All Forum Posts by: Antonio Boone

 All great tips! I will add this to my check list. Question though. What is a L&E report?

 That was my co-worker original idea. He said he offered it to the business next door to build a parking lot for free but they didn't take it and the back yard is huge compared to the neighboring houses. 

He offered it a local charity but they didn't take it as well. 

 I am wondering about what the catch is as well.

I haven't really dug into all the particulars of the house but from what i am told there is no back taxes on the house.

Once it's fixed up I would live on one side after my current mortgage allows me to move penalty free. I would rent out the other side.

My next step is to visit the house first with my coworker sometime at the begging of February then with a contractor and inspector at the end of February so i can kinda get an idea of the cost to get it up and running.

Thanks for the reply. Seems like it should be the same to analyze just minus the purchase price. the cost of the loan, lawyers, title and such. What makes it have new degree of difficultly for me is the unknown price of repairs. Then the next step which would be new for me is getting a loan, which will probably be a hard money loan if i understand correctly. For the reading and listing i am doing it seems like the BRRR strategy is probably the way to go. But Hard Money and the size and scope of work is intimidating.

Hello BP, 

I have a coworker who wants to give me one of his houses for free. 

I have only taken a look at the house on google maps and from those images it looks like the house is going to take a lot of work. 

So I am not sure if it's a good deal? Or more specifically a good deal for me. 

The house fits a lot of my criteria. A duplex in the city I work in near a good school. However I not sure where to start to analyze the deal to see if it will work for me? I am also not even sure what questions to ask to get me pointed in the right direction.  With that said any advise is much appreciated. Any info i can provide let me know. Thanks!

Hey, I wanted to let you all know that on June 28th the Wyoming Valley Real Estate Investors Association is having Jeffery Taylor aka Mr Landlord as Guest speaker. It is free and they are trying to get as many landlords and would be landlords from the Wilkes barre Scranton and surrounding areas to show up as possible.

Happy New Year guys,

I got the pilot light lit. I got one of the 14 'inch grill lighters and that got it. 

The furnace still isn't working maybe due to a bad thermal coupling so I am going to have some one replace it.

Thanks for all your help guys! 

Thanks for your assistance guys I have found the pilot light. But that leads me to my next question. It seems to be in the middle on the broiler. How do I light it safely? 

@Don, The broiler is on it's last legs as it is pretty old. It still heats up (when it works) it just need it to get through this last winter (which has been really warm for PA. thankfully.) next September i will be replacing it. 

Hello BP,

My boiler has cut off and I am trying to light it but I don't know where the pilot is? I can find the On, Pilot, Off switch but i am not sure where to light it. Any help would be much appreciated. 

Thanks for the encouragement everyone! It was a long process, but I did eventually buy my first home. The FSBO home I was shooting for did not work out. Long story short the owner already had some one in mind whom he wanted to sell to and had me as leverage and a back up plan. However as of August 31st 2015 I brought my first Duplex. I am currently doing a bit of house hacking.
The house was a foreclosure that sat on the market for a while and was not really well advertised. It needs very little work as the electrical, roof and most of the plumbing are only a few years old. It mostly needs cosmetic work.

The home buying process was still a daunting one the second go round. I used a Realtor this time around and we started in May and finally finished at the very end of August. The selling bank I brought the home from surprisingly were really easy to work with. This time around it was my team that where the tough ones. I heard it some where before, but it was really like herding cats.

I learned a lot and although it was tough I can't wait to do it again.