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Updated about 16 years ago, 12/08/2008

User Stats

43
Posts
7
Votes
Ryan Kinley
  • Rental Property Investor
  • Cleveland, OH
7
Votes |
43
Posts

Partner/Mentor

Ryan Kinley
  • Rental Property Investor
  • Cleveland, OH
Posted

Hello to all,
I am looking fot an investment group or person in the Cleveland area. I am trying to find people that are willing to meet every so often to talk about possible opputunities to invest in.. Does anyone know the best way i can find this group?
Some inforomation about myself!
I am a small business owner and got into rei about two years ago.
I currently own two houses that sit on 2.1 acres of commercial land.. I am finalizing some layout plans with the city right now to put an 8000 sq. ft structure on the property. If all goes well i will have this complete in 6 months. This will provide 4 units with 1 occupied by my business.. I figure my net cash flow to 2100.00 if i have all 3 units rented.

User Stats

43
Posts
7
Votes
Ryan Kinley
  • Rental Property Investor
  • Cleveland, OH
7
Votes |
43
Posts
Ryan Kinley
  • Rental Property Investor
  • Cleveland, OH
Replied

that is approximately 2100.00 per month after my mortgage payment...

User Stats

22,059
Posts
14,124
Votes
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,124
Votes |
22,059
Posts
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

Rent minus mortgage payment does not equal cash flow. You have many other expenses besides the taxes and insurance.

Better, IMHO, to put the property into one entity and your business in another, and have the business pay fair market rent to the property company. That way you can tell if each is a profitable business on its own.

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