All Forum Posts by: Chris Gordon

Popular opinion (at least in and around Pittsburgh) is that a home that has had wall anchors, etc installed frightens most buyers and therefore requires a price reduction.

I'm looking at something that could be good, if I can price it correctly in my analysis.

Thoughts?

Any experience that can provide a general estimate for what that might be? 20% under ARV?

The five year plan is 360K gross revenue a year - so before taxes, operating expenses, etc. 

So the question is: what would this business look like?

Conservative estimate is that 10 rehab/flips a year, as well as a buy&hold "wheel" where I purchase 2-3 properties every year and after five years start cashing in the oldest properties, could achieve this.

I know we've got a bunch of folks who are already at this point. What's the better strategy I should be focusing on here?

yeah...it's super easy once you figure out the quirks of it...

http://www.iheartcanonsburg.com

Hah! If you need a Lean Six Sigma black belt let me know!

Once again, I appreciate everyone generously sharing their perspectives with me

@Anthony Angotti, will do. 

Hey everyone, I’m in Pittsburgh now but considering moving to the Cary/Raleigh/Chapel Hill area.

Looking to get locals’ opinions on the livability/quality of life of the area, as well as the local investing scene.

We’d like to rent at first, understand the area, then hopefully buy an off market or rehab property to live in, make into what we want, and at least break even or have equity in it.

We’re interested in living in walkable/bikeable areas with good schools and relatively low costs of living.

Does that exist? Any recommendations or feedback is appreciated.

So I think the phenomenon here is you have that hot neighborhood, that has a population that wants to live there....or works there and wants to live close by, but can't afford to. That at least is what I think happened where we're talking about in PHL.

That said, Kensington? Really? I left in 2003 and haven't spent a lot of time there since, but really?

Growing up in Philadelphia I watched certain sections of "downtown" and adjacent blue-collar areas become gentrified, fashionable, and very expensive.

It seems to me that this is a constantly occurring phenomena of revitalization. Somewhere right now is an area you can buy for 100K which in 10 years will be worth 450K in today's dollars. I'm sure all these areas have things in common, or had certain features that primed them for this to occur.

Anyone know of any work that's been done on this, or have personal ways of spotting this?

You see a good deal up there and I'll use you as my RE agent on the buy and sell!