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All Forum Posts by: Bob Stevens

Bob Stevens has started 87 posts and replied 6296 times.

Post: Looking for Cash Flowing Rentals for Under $200k

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Nicholas L.:

@Richard Wilkinson

unfortunately I think that, with interest rates where they are, it is basically not possible to meaningfully "cash flow" on a traditional long term rental, in a market you can't personally add any value to, with standard property management.

if you're handy and self-manage, for example, you can keep management and repair costs down that way, but that's obviously not possible from thousands of miles away.  so you'll be paying market for management and repairs and if you go too far below the median in a market you might have heightened wear and tear and vacancy.

is there a market you visit often, or went to college in, or have strong ties to?  i'd pick that way, versus just a random market based on a random median price that you don't know anything about.

hope this helps


 Hmm All in 80k, with 1500 in rent, ALL IN 130K with 2k in rent, These will cash flow, great,





Post: Looking for Cash Flowing Rentals for Under $200k

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Richard Wilkinson:

I'm a Los Angeles based Realtor w/ 17 years of experience and I am looking to invest out of California.  At this point I would like to keep each purchase under $200k.  Can anyone recommend any markets where one can make a purchase for $200k or less and still have positive cashflow?

 Of course, You can get a SF for about 115kish, with 1500- in rent, Or a Duplex for about 135k with 1800- 2k in rent. I am closing next week on 3, 2 SF 75k, and 80kish all in .Rents will be 1500ish for one, and 1800ish for the other, Duplex ALL IN 135kish, Rent will be 1800- 2k. I went to contract yesterday on a 3 br for all in 95k, rent will be about 1800.  Best part I'm OOS. 

All mine are 15-20% NET income. You can get 10- 15% net income, 

All the best

Post: Good Zipcodes in Delaware to invest for ARV and Cashflow

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Buyan Thyagarajan:

Hi Guys,

I am trying to revisit my strategies on investing in Delaware. I would like to know which sites are reliable to do some market research on population growth, and income on zipcodes, and counties in Delaware. I am looking at pockets of areas around Kirkwood highway, Route 13 Newcastle closer to bear which is growing and pockets of Wilmington. What are your thoughts?
Buyan


 DO YOUR HOMEWORK. 

Post: Can I pay you to evaluate my Orange County, CA fix & flip real estate deal?I

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @John Mason:

Would be great if you tell the compensation for the hour:)


 It takes UNDER 3 minutes to determine if its a good deal, SIMPLE ALL IN, vs the comps, end of story. RE is just math, 

Post: I Want To Start Wholesaling but Need Help

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @John Mason:

youtube.com/watch?v=yWaLJ_hbx3g


 There is NO YouTube video that is going to tell you how much a reno will cost as it varies from state to state , city to city 

Post: I Want To Start Wholesaling but Need Help

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Jesus Sanchez:

I want to start wholesaling real estate in my area, South Texas, but I need help calculating the rehab, do you all have any methods?


 Method? YES have it walked and have your GC tell you, YOU and ONLY you need to know what the real costs is, there is not a method 

Post: Should I buy in NYC or Florida?

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Priscilla Chin:
Quote from @Bob Stevens:
Quote from @Priscilla Chin:

Hi everyone, 

I am located in NYC and am looking to purchase my first property for long term rental investment here. I am still new to this and there is a lot to learn! Would appreciate any tips, insights, or areas of suggested research. I am looking at multifamilies in NYC versus single family homes in Jacksonville, FL (yes there is a significant price difference), and I cannot decide between the two.

Factors I am considering.. 

NYC:

- NYC will probably appreciate at a higher rate and shorter amount of time compared to Jacksonville homes.

- I will be able to find tenants sooner in NYC compared to Jacksonville. Depending on the area in Jacksonville, I see many listings that are 60+ days old.

- Lower down because I can do FHA loan

- With the potential rent income vs monthly mortgage price, I am probably breaking even if lucky

- Pro tenant

Jacksonville:

- Total cost of home is lower, even though I will have a higher down payment because I am buying it as an investment property

- With the potential rent income vs monthly mortgage price, I might make a couple hundred a month... which can eventually be used as a down for another property?

- Home insurance I heard is higher in FL

- More landlord friendly I heard

Any and all thoughts, critiques, suggestions, or whatever factors I haven't considered would be much appreciated. I've never bought a home before and am new to this!

 Both are terrible choices NYC, super expensive and high taxes, and TERRIBLE landlord laws. Also, NYC is dead. 120 hotels house illegals! Buildings are empty.  Do you have 1 mill or more to make maybe 3% net? Fl is crashing and this is only the beginning. I LIVE in FL and am from NY. I do all my biz out of state. 


 Thanks for your input Bob! Which cities/areas do you suggest? Also, what are your thoughts on Indianapolis or Oklahoma City?

Oklahoma City, OK

 Indy you missed by 6 7 years, OC I cannot comment on as I do not know that market. I have been working in the Cleveland markets for 10 + years as have 100s from around the world. We are closing on more properties next week, SF all in 90k, rents will be 1600 1800, value 135 140k, Duplex all in 90k, rents will be 18000 2k, 

All the best 

Post: Can I pay you to evaluate my Orange County, CA fix & flip real estate deal?I

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Jeffrey Magenes:

I'm about to buy to 4/3 home that's 2,300 sq ft, built in 1967 and want an experienced real estate investor to evaluate whether it's a good deal.

Please comment below if I can pay you for 1 hour of your time to analyze it.I have full photos/video walkthrough, and also have several contractor quotes.


 POST the ALL IN numbers, it takes UNDER 3 minutes to evaluate, ALL IN, then simply run comps, 

Post: Looking for Property Manager Experienced in Mid-Term Rentals In Cleveland, Ohio

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Zoe Getzels:
Quote from @Golan Corshidi:

Hey all!

I am looking at an opportunity to invest in Cleveland, Ohio and I am looking to connect with a local property manager who has experience working with mid-term rentals. 

Looking forward to connecting! 

Hey there! I just sent you a message. We solely invest in Cleveland and have several MTRs that do really well. We stay consistently booked. I would love to chat. 

 I am very active in the Cleveland markets. If your MTR are netting more then 15- 20% based on cash purchases, I'm all ears. ALWAYS open to bigger and better things, 

Post: Poughkeepsie, NY. Wanna connect?

Bob StevensPosted
  • Real Estate Consultant
  • Cleveland
  • Posts 6,413
  • Votes 3,681
Quote from @Isadore Nelson:

Good evening! 

I’m exploring investment opportunities in the Poughkeepsie area and have a few questions about some properties I’m considering. Is anyone familiar with the local market and available to chat? 

Thank you!


 Ask address, reno , and what will the rent be ?