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Updated over 2 years ago, 08/28/2022
Cleveland rental $85k and under
Hi, I was recently approved for $85k in Cleveland. My criteria for a buy are: duplex to quad, preferably tenants in place, light to no rehab, cash flow $200/door after mortgage and 30% for future repairs.
My agent has only been able to send me one opportunity but it was a pass as there would be more rehab than I would want on my first deal. Two properties I have sent him resulted in him saying one was in a bad area, and the other had a buyer back out after a bad inspection report.
Am I being too strict in what I am looking for? Is my price point too low?
Thanks!