Pennpioneer.com

Lots of new deals coming soon!

Penn Pioneer — Tue, 09 Mar 2010 22:01:11 +0000

We have not had time to update the website much over the last few weeks since we have been busy picking up a bunch of new deals. Here is a quick look at what we have coming up. Give us a call if you want more info on any of these.

Steuben Street, Elliot – This property is a 3 bedroom (has a 4th br but is captive), one bath, 2 1/2 story aluminum sided house. It has a new 200 amp electric service, new kitchen cabinets and an updated bath. It has a fenced rear yard and off street parking. This property needs about 4k in work and should rent for $750 per month. Price is $16,900. If you can close in the next week, it’s yours for $15k. If we don’t sell this right away, you may see this marketed for more in the near future as we plan on doing the work, getting it rented and selling in the mid to upper 20’s.

10 Property package deal - This deal has 14 units total and only 2 apartments are vacant and need minimal work. This properties will bring in over $6,000 per month and will be priced at $199,000

Brighton Heights rental – This property is having new carpet and new flooring installed in the kitchen and front and rear entry today. It is a 2 bedroom, 2 bath with updated wiring, furnace and kitchen. This property will be completely 100% turn – key. We have about 10 prospective tenants lined up to view it this weekend and will be rented for $640 per month. Price will be $23,900. This is a great property to add to your portfolio.

Crafton Flip Opportunity – If done according to our plan, an investor could make a minimum $30,000 profit on this deal. This is an all brick 6 bedroom house that has a lot of character. Purchase price is $46,900. This is one that you will need to move quickly on.

Stowe Township – This is perfect great for the investor looking for a cheap deal. This house is a 3 bedroom (could be 5 bedrooms) and has 2 full baths. It has a newer furnace, central air and is all brick. It will need about 5k in work and will be priced at $9,900. If you call us this week and can close quick, we will cut you a sweet deal. We are also working on getting the property next door so there is a great opportunity to own 2 houses side by side. Each property should rent for at least $700 per month.

North Braddock – East Pittsburgh – This is two properties on one lot that have 3 units in total. These properties have just been renovated, approved for occupancy by the borough and all have been rented. The rents will are $1,350 per month and the tenants pay their own gas and electric. Price is $54,900. Imagine what you could do with $800 of monthly positive cash flow.

Hazelwood – This property is a 3 bedroom brick house with newer windows. It will need a furnace, plumbing, electric service, paint and carpet. Price is $6,900

McKeesport – Owner Financing – 2 bedrooms, only needs paint and carpet, all utilities are functioning, has a newer furnace. $2,900 down and your payment of $289 monthly will pay this off in 5 years. No Bank Qualifying. This house should rent for$500 to $550 per month.

Stanton Heights Flip Opportunity - This property will need a fairly big rehab but there is room to potentially make $40,000 in profit. We are working through some title issues on this one but should be ready to sell in the next 2 weeks.

Sheraden duplex – This property is a vinyl sided above and below duplex with off street parking and really only needs some very minor cosmetics. It already has a newer roof, updated furnaces, newer electric and the kitchens and baths are in good shape. The price is only good for this week for $23,900. If it does not sell right away we are going to do the work ourselves and the price will change to $33,900.If you like, we will even give you our contractors to do the work and you can save some big money.If you want this one for the reduced price, you need to move quickly. Total rents will be $950 per month.

Give us a call or shoot us an email if you would like any more information on any of these properties. We will be adding them to the Penn Pioneer site over the next few days.

Whew….That’s all for now.

Great opportunity for a flip in Crafton. Make 30k!

Penn Pioneer — Tue, 02 Mar 2010 20:30:47 +0000

We have a 6 bedroom house in Crafton coming up and it has the potential to make you at least $30,000. You will have to move fast! Call us for a first shot.

Forbes Magazine names Pittsburgh the number one market to invest in!

Penn Pioneer — Sun, 28 Feb 2010 00:44:15 +0000

Here is an excerpt from the article

America’s Best Housing Markets

Francesca Levy, 02.19.10, 04:50 PM EST

Low foreclosures, rising home prices and affordability make these parts of the country good bets for home buyers.

In Depth: America’s Best Housing Markets

Families in the market for a house are shopping at the right time: Nationally, homes are near the most affordable they’ve been in 18 years. In the fourth quarter of 2009 housing was 62.4% more affordable than the same time a year earlier, according to the Housing Opportunity Index, published quarterly by the National Association of Home Builders and Wells Fargo.

The best place to buy right now: Pittsburgh. For a housing market to be attractive it should have appreciating prices that show homeowners are making wise investments; an affordability rating that gives middle-class families with good credit entry into the market; and a relatively low number of foreclosures, which keeps prices stable and indicates there isn’t an excess of inventory.

In Depth: America’s Best Housing Markets

Pittsburgh has all three. In the metro area, 85% of homes are affordable to those making the median family income of $62,500. At the same time, foreclosures are low: Only one home is in foreclosure for every 120 housing units–the second-best record of all the cities we ranked; and home prices are expected to increase 2.67% by the end of the year.

Yes, the city has suffered greatly since the decline of its manufacturing-dependent economy. But that slump helped its real estate market dodge the rapid run-up in prices that doomed so many markets after the housing boom.

Package deal coming with great cash flow. 10 properties for $199,900

Penn Pioneer — Tue, 23 Feb 2010 21:58:31 +0000

These properties are already rented and bringing in $6,000 per month! Give us a call for a first chance at buying this great deal.

Great cash flowing duplex in Sheraden coming up. We can make it turn-key for you $39,900

Penn Pioneer — Tue, 16 Feb 2010 20:32:09 +0000

This is an above an below duplex that will generate $950 per month in income. It has newer furnaces, newer electric, and a newer roof. We are planning to make this a turn-key investment by having all of the work completed but you can also buy it now before we start for a huge discount. Give us a call for photos or to schedule a tour.

4 Bedroom (Could be 5br) house in Troy Hill will produce positive cash flow over $350 per month! Only $24,900

Penn Pioneer — Thu, 28 Jan 2010 23:46:42 +0000

1116 Goettman Street (Troy Hill), Pittsburgh, PA 15212

Sorry, this property has sold.

Updates just completed! Grab opportunity’s doorknob! Cash flow does not get much better than this! Check out the 50 photos and video here….

4 bedrooms (possible 5th on first floor) and 2 full baths
New furnace and duct work
Newer kitchen cabinets
New kitchen floor
New flooring in both baths
Carpets just cleaned
Updated electric service
Partial view of the city
Estimated market rent $675 to $795 per month (at $795 per month this property will pay off in 2 years and 3 months! – Rent it at $675 and it pays for itself in 2 years and 8 months!)
Work needed but not limited to: install 2 doors and a wall to un-captivate 2 bedrooms

Great Rental in the City of Pittsburgh that only needs cosmetics, $13,900

Penn Pioneer — Mon, 25 Jan 2010 23:09:57 +0000

410 Curtin Ave., Pittsburgh, PA 15210 (Beltzhoover) Located on a nice street

If you are looking for an investment that only needs cosmetics, this cold be your next deal

Check it out here….

3 bedroom and one bath
Newer vinyl siding – 6 years old
Newer breaker box – 5 years old
Newer hot water tank – less than 1 year old
Newer bath – remodeled 5 years ago
Roof is 15 years old
Bryant furnace is 15 years old
Porch and front steps redone 8 years ago
Work needed but not limited to: add more outlets to bedrooms, carpeting, build one wall to separate a bedroom
Estimated market rent $550 per month with the tenant paying utilities

90 Day FHA flip rule waived for 1 year!

Penn Pioneer — Mon, 18 Jan 2010 20:10:59 +0000

Effective February 1st 2010, FHA/ HUD will not require that a seller of a property be on title for 90 days or more in order to sell the property to a borrower acquiring FHA financing. You can view it yourself here:

http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

Owner Financing on this cheap house in (Sheraden) Pittsburgh, 3 br, 2 bath, Only $9,000

Penn Pioneer — Fri, 15 Jan 2010 12:28:15 +0000

1117 Adon Street, Pittsburgh, PA 15204 (Sheraden)

Sale Pending. Contact our office to be notified in the event this property does not close.

$3,000 and $500 per month at 0% interest! Check it out here….

3 Bedrooms
2 full baths
Level entrance and parking in rear of house
Work needed but not limited to
- Interior scrap and paint
- Carpeting
- Replace plumbing
- Tub surrounds in both baths
- Replace a few windows
- One exterior door
- Clean off front porch roof
Estimated market rent$650 per month or $7,800 per year

2 bedroom house in Swissvale, It’s in livable shape for only $17,900

Penn Pioneer — Thu, 14 Jan 2010 17:57:29 +0000

7303 Burton Street, Swissvale, PA 15218

If you are looking for an investment property that has nice cash flow and only needs cosmetics, this could be your next deal.

2 bedroom, 2 story frame house
Possible third bedroom or third and forth bedroom on third floor – would need drywall – plaster repair, heat source and outlets installed
Newer furnace
Updated electric service
Double pane windows
Fenced rear yard
Work needed but not limited to:
- repair plaster cracks and paint in both bedrooms
- reattach gutter on back porch
- carpet in 2 bedrooms (we like to paint the floor and use an area rug on rentals)
- bath needs paint, tub surround, and flooring
Estimated market rent $550 to $575 per month with tenant paying utilities