All Forum Posts by: Kesha Ferguson

 Thank you Kevin. Yes, this is in PA; about 40 min outside of Pittsburgh.

Thank you Kevin.

Yes, this is in PA.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $34,000
Cash invested: $90,000

4 plex with renovations in progress. Renovated and living in 1 apartment; the other 3 are in the process of being renovated to rent out.
1) 3 bed/1 bath
2) 1 bed/1 bath
3) 2 bed/1bath
4) 3 bed/2 bath
big back yard
1, one car garage
1, 2 car garage

What made you interested in investing in this type of deal?

It was a multifamily found on a delinquent tax list. Interested in cash flow.

How did you find this deal and how did you negotiate it?

Researching Delinquent Tax list. County has a fixed price. The property had a mortgage/lien from previous owner and we negotiated it down to approx $33k.

How did you finance this deal?

Personal savings, and lucky unexpected money from a previous job.

How did you add value to the deal?

New roof, plumbing, electrical, general updates. It has not been updated since the 1980s.

What was the outcome?

One apartment is completed and we're living in it, while renovating the other 3.

Lessons learned? Challenges?

Don't renovated based upon your living standards. Get multiple bids on big jobs (roof, plumbing, electrical) Budget.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not for this deal, but for a previous flip. Anniea Stauffer with Miscovich Real Estate; she's professional, knowledgeable, dependable.

Thank you.

That's what our thinking was and that's the reason we looked for properties that were vacant. 

Thank you all for your input. We are living on the 3rd floor now, but renovating the other apartments. I own the property out right. We have never had tenants and didn't know if it would be worth it, once done, to find tenants or to just sell the property. I don't think it would be hard to get any of the apartments rented

I like the idea of the month to month also.

Thank you

We are working on and living in a quadplex now, but we have decided that we don't want to be landlords. We are going to sell this, once we do a bit more work. We are still going to invest, but maybe a different strategy; fix and flips. Still undecided.

Just wanted to know if most investors prefer to purchase a vacant property and screen tenants themselves or if they prefer to  have the apartments occupied?

Thank you

Investment Info:

Single-family residence fix & flip investment in Latrobe.

Cash invested: $3,200
Sale price: $130,000

Purchased from County Tax Sale

What made you interested in investing in this type of deal?

We had limited funds, but wanted to start our journey.

How did you find this deal and how did you negotiate it?

A lot of research into Tax sales etc. Found the county tax list, narrowed down a few properties. We picked one. Drove by different times of day and night, knocked on the door, more research, title search and finally entry to the court house to purchase. We wanted a property that was unoccupied; so it worked out.

How did you finance this deal?

Tax refund.

How did you add value to the deal?

Remodeled the kitchen, added a bedroom, remodeled the bathrooms, painted inside.

What was the outcome?

Just sold it a few months ago for about 130k.

Lessons learned? Challenges?

This house was in great shape, previous owner did a good job, we (wife and I) probably only needed to paint the kitchen, and probably didn't need to put as much into as we did. It was our first property and we learned alot.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We have a real estate agent who sold it for us, but we bought the property ourselves.

Hi all. Thank you all for responding. Update: We bought the single family house in 2019 from a repository list (left over from the tax sale) for a bit over 3k. We renovated for about 25k. My nephew lived in it (rented) for a while until he moved to VA. We sold our home and moved into the house and We just sold it for 133k.

It all worked out.

We are currently renovating a quadplex.

Hello Paul. 

I love your introduction.  I am new to investing as well and will purchase buy and holds in Birmingham.  Sending you positive energy and with what you have mentioned so far, you will have great success with your goals. 

Thank you.

Hello Dion and welcome. 

I am new to investing as well and BP has a lot of good information and good people to help you reach your goals. I am also going to invest in Birmingham (buy and hold).

I wish you well on accomplishing your goals.