All Forum Posts by: Abram Torres

@Greg Gaudet hey! Know this post is a few years old but are still buying or intrested in a portfolio in CA? Asking is 3.3M

 We have a rental property in Toledo OH.

@Lala Mala if you have an LLC you can purchase using the LLC and then sell the LLC to your end buyer. Some title companies can do simultaneous closings. So they would use the end buyers funds to complete your purchase and the remaining amount would be your profit/assignment amount.

Hope this helps.

@Ralph Pombo From my knowledge, using a 3rd party servicing company for payments. & adding yourself to the insurance policy the seller has and add your own for extra security but not required. Those are the 2 major ones I've learned from Sub2 Community.

@Lesley Whitley I'm a wholesaler in OH. If you want some cashflowing deals, shoot me a message, and I'll get your criteria to start sending you some deals. 👋

@Benjamin Emery

You defenitly can use other strategies such as getting a private lender to fund the down payment and take second position.

Would a 14 Unit Apartment Building in SoCal be something they'd be interested in looking at? 

Thank you very much for that info Don. How would you go about finding a property like this using the MLS or Prop-Stream? & So each property as a single family has an Avg Sale Price of that $175k. Both homes are WAY under rented with long term tenants that have been there for 10 Years. Their Monthly rents are $800 & $750 but the Fair market rents for a Single Family Home with same beds/baths/sqft are $1,000 - $1,200 & the conditions of it is great, repairs needed would mainly be cosmetics interior and updating. The property is located in Cleveland OH 44109.

Thank again for that info and I will definitely keep everyone posted as to what the appraisers tell me tomorrow!

Thank you all so much for the info and advice! I did run comps on it as a SingleFam  and also as a Duplex, but it didn't make too much sense to me to do it as a Duplex because 

1. there weren't any other properties with this set-up 

2. These are nothing alike to a 6/3/3000sqft Duplex 

3. The comps were  are Up/Down or Front/Back style duplexs'. 

As as Single Family I see a few similar properties that have been renovated and sold for $170,000 BUT as a Duplex the Avg sale price is about $150,0000. Seller is asking for $175,000 or about $87k for each. That's what interests me about this deal, if they can be split into 2 separate single family properties, then that would mean double the profits as well. I definitely will reach out to an appraiser and try to see how they would view this and also on sub-dividing or making the middle driveway an easement. Thank you all for the help once again! 

I have this pretty weird MultiFamily/SingleFamily property in Cleveland Ohio. I'm trying to run comparables on it but not sure which would be more adequate. Or which would a lender go based off of?

Its 2 seperate buildings divided by a driveway.

(3-2-1600sqft) & (3-1.5-1,500sqft)

Would you run comps on this as a SF Residence or as a (6-2.5-3100sqft) Duplex? Both Buildings are on the same lot. TIA!! 🙏

ARV on a SF 3bed-2ba-1500 sqft is about $170k per house/building & Duplex's that are around 6bd-2ba-3000sqft are selling at about $180k. What Would You Do???