A view from my office today.

[fastfredracing]

We closed on this rental house on Oct 30 th. It is right next door to one we already own, I like to have a few very close together. We had a crew of guys today, and put a real whoopin' on it.
The basement was a pretty serious hoard. This shot is after 3 hours, where I finally broke a path from the bottom of the stairs, to the basement door.




This is the third floor, the worst room in the house, there is a little water damage by the chimney, it needs some flashing and a good seal job around the chimney, but other than that, the roof is sound.
This one is going to be easy, We walked on site this morning to a working furnace, all water pipes still intact, hot water heater working, and electric is on, and there already is a newer panel in this one.
We are getting pretty good at our craft. I think we can have this one ready for tenants in 90 days.
Here is a shot of the front tonight after a good cleaning , and hedge trimming out front. the white with red trim is ours as well. This was a dumpy run down street, but the city is building the new high schools football field right across the street from these two places. They have dumped a bunch of money in the area, new streets, sidewalks, and have torn down all except one of the abondon houses in the area. These will both be rentals for now, but I see them both being cash cows down the road.

[GWN7]

That's a interesting front street....what's the back yards look like?

[Baz]

Congrats Fred.....couple nice 401K's you have there....

[fastfredracing]

Originally Posted by GWN7

That's a interesting front street....what's the back yards look like?

Pittsburgh is a hilly city. The street is real steep, and parking is sketchy , but, this also makes for a nice quiet street with little traffic, and little riff raff. It is quiet here. These two houses are pretty much our worst two out of the fleet , but they were cheap, and fit right in with our formula. Both were, or will be quick , easy fixes, and are on a quiet street. Real nice view of the Park across the street, and or the Observatory . At one time, these were grand neighborhoods in Pittsburgh. The white one, did not have any plumbing when we got it. They will churn out a nice buck over the next few years. The back yards, are small , and somewhat steep heading uphill. Each has a small 3 ft retaining wall, and small concrete back porch. .
Not really much grass to mow. Maintenance is simple on these two, no trees hanging over the roofs.
I'll snap up a few more shots tomorrow of the other rooms.
My partner and I sold off our hoard of extra Porsche parts, 5 years ago, and bought our first house, and have done one a year since. Not a very glamorous job at times, but we now have it making a nice little supplement to our incomes at this point. I see myself doing at least 5 more of these, and we have another investor who has been beating our brow to go in and do a flip with him, He will bank it. Not so sure how I feel about that, but he must see some value in what we are doing.