All Forum Posts by: Nick Sette

Locked it down and officially at 6 units!!! Clean settlement yesterday afternoon and now the fun begins! I'll be sure give an update in a few months from now!

I primarily look around west oak lane, germantown, mount airy, roxborough, east falls area. There are opportunities out there and I found this one on Zillow. If you need help looking I'm here for you! Feel free to send me a message and we can talk.

Under-contract!!!! Triplex in philly, all 2bd 1bt. Will keep everyone updated - I may be looking for a new insurance broker, if anyone has any recommendations or referrals please let me know.

The best deals are the off market deals. I do not have the ability to make the cold calls or marketing materials needed to source those kinds of leads so I rely on my agents, zillow, redfin, and MLS to find potential properties but of course it always comes down to the numbers. If a property has been listed for a while you'd be surprised what kind of deal you can get out of it. Always want to use the 1% rule and seeing the long term potential is my sweet spot.

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment. I'm still focusing on small multi-families mainly 3-4 units. It's great to see the inventory is coming back there are a lot of options out there and I'm feeling excited! I'll keep everyone updated on what I pull the trigger on next!

Hello BP Community!

Update on the Triplex, I closed on the property the end of May. I inherited 2 tenants that stayed until July 1, they moved out with no issues and on good terms!

Since then I’ve begun to DIY the shower in the top unit, replacing the drywall and tile. This has taken me longer than expected but I’ve been enjoying the sweat equity and getting my hands dirty.

I plan to rent out the top and middle unit once the bathroom and other cosmetic issues are resolved . Next I plan to get a sub into my bottom unit as that shower has leaking issues as well but may be outside my realm of skill.

More update to come!!

 Thank you Allie!!

Thanks man!!!

Thanks Kris! My plan is to do a little DIY reno, just some flooring and ceiling repairs, in the unit I'll be living in. The top unit and bottom unit are already rented out so I will be living almost for free during that time. After the year passes, I plan to move out and have the place fully rented hopefully cash flowing a nice bit, then hopefully repeat the process again!