First flip done! Exit strategies in Bedford, OH

[Vic Delgado]

Hi everyone,

I haven't been too active as of late due to my first flip which was purchased back in late March.  So here I am, the point of sale is completed, and I'm curious to see if any local Cleveland investors (esp. the Bedford area!) have any input as to an exit strategy for this property.  

Right now I will do a little better than break even on it if I use a Realtor to sell it. I've had it listed on Zillow, CL, and ran an open house. Most interested parties are asking about RTO, and I'm getting good feedback on the house. The price I have it listed (90K) was based on comps my Realtor showed me in the spring, but it seems the market may have slowed a bit now that we are nearing fall. It has been on the market about 2 weeks.

Is anyone familiar with the rental market in Bedford?  This is a 3/2 that turned out beautifully, and would be great for a starter home. I own the home outright and have considered renting it, and refinancing it to pull out equity before considering my next deal. Bedford has varied areas and this home is in one of the nicer neighborhoods with a wooded lot behind on High Street. 

I feel like I could write a book based on this first flip alone, and any comments would be greatly appreciated!

Vic Delgado

[Joshua D.]

@Vic Delgado 

Well done on making the first deal happen! Now that you have had some training you can make some good money on the next deal. I do not know your market but I would highly suggest using a realtor, Craigslist attracts the RTO crowd, no credit, no money, no Job. Not the kind of people you want to deal with. Pay the money and get it sold.

What would it rent for?