All Forum Posts by: James Dolan

I've been running an investment company in Pittsburgh, PA for 3 years but live in Laguna Beach, CA. Would love to connect with other folks locally. Let me know!

Is this active? I've been investing in Pittsburgh, PA for 3 years but live in Laguna Beach, CA. Looking to connect with other like minded folks.

Thanks @Charles Carillo yes that is actually what I proposed to the seller yesterday. Asked for $5k off the sales price ($2500 to clear blockage + $2500 in potential PVC liner costs). 

If I buy with cash and decide to keep the property as a rental, I will run into the same issue when looking to refinance, correct? Bank will check the sewer line?

Hi All,

I have a property under contract in Pittsburgh that has a blockage 85 feet down the sewer line so the plumbers are unable to confirm whether the line is free of damage beyond that point. They quoted me to clear the blockage ($2500) so they could inspect the line further. If there is damage to the line beyond that point, the solution would be to repair the damage and re-line the pipe with a liquid PVC liner (which could be costly). 

I'm looking to purchase the property as a quick carpet/paint flip. I've been told that prospective buyers will be unable to get bank financing if the sewer line is damaged. 

Has anyone had experience with this type of situation?

Hi All,

I work for an investment group with wholesale/rehab operations in several markets across the US. Over the past year, I have started to purchase some of our deals as quick carpet/paint and full renovation flips. So far, I have been borrowing money from family and friends (1 Hard Money deal as well) and been able to provide sizable returns on their investments. As I look to scale and increase my purchasing, I'm seeking additional private money to help fund deals in exchange for a set % return. 

After family and friends, where is a good place to source private money? 
 

Thanks guys! @Account Closed

Thanks @George W. I'll look into it! Any idea what costs would look like for something like that?

Thanks @George W. the actual chimney collapsed. So it looks like there is an elevator shaft in the building now

Anyone have any experience with collapsed chimneys? I have a 3-story triplex in Pittsburgh under contract that has a collapsed chimney. I'll be getting quotes for repairs and renovations but just curious what others have done in the past. Build the chimney right back up where it existed before? Are there other options?

Thanks @Anthony Angotti we freshened it up with quick carpet and paint. Took about 2 weeks then we had it up on the market. Closed a month later to a young family moving into the neighborhood. Even at $172k, there was still an opportunity to rehab and resell the home for a profit so I wouldn't be surprised if the new owners do a live in flip.