All Forum Posts by: Kalhan Bhan

Hi Stephen

I'd be interested in knowing more about your properties. Please get in touch and maybe we can work something together.

Thanks

welcome to BP, Wesley. I joined BP a couple of months back and it's a great source of information. Feel free to connect 

@Anthony Angotti

It is partially finished. The part where the bath is located is finished but then there is like a crawlspace nearby where the furnace, meters, etc are installed which is not finished (there's soil and the building foundation)

I would eventually want to move the bath to the upper floor, not sure how much that would cost or if it is even possible.

Welcome to BP! Nice to hear from a fellow investor in the south side! I am currently trying to house hack in the same area. I want to eventually get into flipping too but have spent too much time waiting for the right time. We should connect!

Update: Saw the property today. There doesn't appear to be any leaks, major repair, etc. needed short term. 

There is however something weird about two of the three units. They have the bath in the basement! It's been constantly rented out though with less than 1% vacancy. Any advice on if this will be a problem while reselling? The property looks good in terms of cash flow but not really an appealing place to live. 

@Dominic Lucarelli Thanks for the notes. 

Utilities are paid by tenants and they are separated, i will only need to pay for trash pickup. There is no yard or lawn in the property so no grass cutting, not sure if i will need to pay someone for snow removal in the winter. The property is in south pittsburgh where vacancy is very low. I will be taking a look at it this week, hopefully its in decent shape. 

After searching for MFH for a while, i feel like i may be onto something. I am looking to house hack a triplex in pittsburgh. Some points to note before i bring up the numbers:

- For analysing, i considered it as if i am renting out all three units. 

- My major concern is that it is a really old building (115 YO) so the appreciation might not be much and i might have underestimated initial repair costs (though the agent says it is a turnkey, i don't believe that after looking at the inspection report). 

- I have added a 10% for property management though i won't be using one at least for the first couple of years.

- I've included a 10K buffer for initial repair costs, not sure if that is a fair assumption.

Here's the good stuff now:

What do you think?

@Comfort S. You can always screen the prospects that you get responses from. Again, it does depend a lot on the area and how easy it is to find sublets. You might not have the liberty to pass on someone if sublets are rare. Good luck

You could try subletting your current rental home till December. 

@Erica Payne
Hi Erica

I joined BP just two days back and my head is already overflowing with information. I am an electrical engineer by trade and love it but i am looking to build a modest portfolio in the Burgh!

Would love to hear about your experience so far.