Pittsburgh should offer a plethora of investing opportunities with the hydrofracture industry going nuts! Do you have any home improvement skills? I would say you’ll need about 10K to pull off a 50-70K purchase. Though I’ve heard BoA is back to their old ways if you can declare owner occupied. Basically 3% down and eligible for 6% sellers concessions. So if you line that up you could get in pretty cheap.
title insurance: 500
attorney for closing: 350
year premium of insurance: 800
taxes due at closing: 1500
3% of purchase price: calculate
cost of rehab: calculate
cost of holding during rehab: calculate
I shoot for 20-35% cash on cash return.
Happy hunting! And you’ve gotta play to win! So start making offers 😀
