PITTSBURGH, PA, June 05, 2013 /24-7PressRelease/
-- According to Dormont Borough's public records, Jason Cohen, as of May 30, 2013, owns the most buildings in the area, with a total of 11.
Cohen has a history of total community and residential renovations and flips, performing over 100 in the Pittsburgh area in his decade of real estate entrepreneurship.
The most recent purchase includes:
-1 apartment building
Cohen purchased the properties from the same owner in a $360,000 deal. This follows his career-long tactic of hunting commercial properties not yet on the multilist (MLS) and with a low average per-unit cost. These particular buildings hold 12 total units, battling the Dormont average of over $50,000 per duplex unit at the small cost of just $30,000. This is especially significant since Voelkel units have laundry facilities, McNeilly units have parking, and Dormont and McNeilly units have backyards and front porches.
Plans for building beautification include:
- Cleaning and exterminating the units
- A new roof on each duplex
- Brickwork, which already started in the first 24 hours
- New vinyl flooring, cabinetry, and appliances
- Tenant evaluation for lease renewals
The deal included the seller of the properties providing the first mortgage, simply meaning acting as the primary lender to the buyer, and will be able to collect interest long-term into his retirement. The seller's loan is secured by the property while allowing for monthly principal and interest payments on money that would have otherwise been fully taxed, had the seller opted for the conventional method of receiving all funds at closing. Cohen encourages all property-owning retirement-seekers to contact him via http://jasoncohenpittsburgh.com
in order to work a deal that will be mutually beneficial to both buyer and seller.
Cohen is a veteran to renovating, and has quite the "before-and-after" portfolio. Pictures are attached to portray this recent purchase as well as some of his past projects. He also isn't squeamish when it comes to less-than-ideal unit conditions, which, with this purchase and a handful of past others, include roaches, vermin, and squatting tenants. Like several of his past purchases, he found these properties in a state of decay, yet quietly nested in highly desirable areas. These types of buildings tend to be invisible code officials' radar, as tenants typically residing in these properties accept ramshackle conditions in exchange for lenient management. Cohen has repeatedly and riskily jumped into these near-assetless properties, turning consistent results by:
- Turning communities into attractive neighborhood additions
- Producing positive revenue streams for taxing bodies
- Making them attractive profit centers for Cohen and his investors.
Cohen owns around 55 buildings in Pittsburgh, which upholds him as one of the city's top investors.
Acquiring his first commercial property in 2004, Jason Cohen of Jason Cohen Pittsburgh started one of the most rapidly growing small to mid-size multi-family real estate acquisition groups in the Pittsburgh market. As a consulting group, Jason Cohen Pittsburgh strives to unite and package together specific real estate strategies tailored to the unique financial situation and goals of each client. Jason Cohen owns several buying entities, and represents several investors who have consistently returned for further consultations. Cohen's group sets themselves apart by the custom, individualized process it takes for every client to succeed in their real estate activities from start to finish.
Jason Cohen can be reached at email@example.com
, (412) 812- 1578, or by visiting his forum and website at www.jasoncohenpittsburgh.com
Jason Cohen Pittsburgh
Jason Cohen Pittsburgh
Jason Cohen Pittsburgh is a consulting forum for Jason Cohen and others to unite and package together specific real estate strategies tailored to the unique financial situation and goals of each client. Please contact us at firstname.lastname@example.org