All Forum Posts by: Brian Rensel
Brian Rensel has started 2 posts and replied 3 times.
Post: Our First Multi-Family
- Lyndora, PA
- Posts 3
- Votes 1
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $80,000
Added two more doors to our portfolio. We purchased a duplex in Pittsburgh recently. It's a fixer upper but it will be a nice place with good potential when it's ready to rent.
What made you interested in investing in this type of deal?
We wanted our first multi-family and the price was right.
How did you find this deal and how did you negotiate it?
It was an off market deal that our wonderful agent found for us.
How did you finance this deal?
Armco Credit Union
How did you add value to the deal?
I'm currently renovating the property from top to bottom, new paint and trim, two new kitchens and bathrooms, and all new appliances are provided.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
We used out excellent agent, Samantha Young, from Howard Hanna in Cranberry PA. I would recommend her to anyone wanting someone that goes above and beyond in all that she does.
Post: Lyndora Pennsylvania Investment
- Lyndora, PA
- Posts 3
- Votes 1
Quote from @Eric Greenberg:
Congrats! And I agree, sometimes ‘grandma’ houses look like a quick turn around but often take a bit more than expected.
Thank You
Post: Lyndora Pennsylvania Investment
- Lyndora, PA
- Posts 3
- Votes 1
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $125,000
This property contains both a 4 bedroom, 1.5 bath single family residential home and a 34' x 34' commercial building. Both buildings are rented separately. I had to do a lot of remodeling on the home before it could be rented. I did all my own work on this particular investment.
What made you interested in investing in this type of deal?
It neighbors the home my wife and I live in.
How did you find this deal and how did you negotiate it?
Because this investment neighbors the home my wife and I live in we always expressed an interest in the property to the children of the previous owner. They always said they would contact me when there very elderly mother passed and they did.
How did you finance this deal?
Armco Credit Union used the positive equity in our personal home to 100% finance the investment.
Lessons learned? Challenges?
One of the biggest lessons learned and equally the biggest challenge is under estimating the amount of work the home needed.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did the deal on my own.
