All Forum Posts by: Bob Stevens

I am very excited to have my first deal under contract. I am purchasing a duplex and looking to BRRRR/Flip it. The property needs light/medium work and I was wondering if anyone has a rehab checklist that they use when completing a rehab?

Being this is my first deal I am sure I have probably made a few mistakes, but overall I am confident it is a decent deal and I have a solid exit strategy.

Is there anyone who can assist me in some mentorship along the way. I may have a few questions as challenges arise and would love to have a resource to bounce thoughts and ideas off of.

Any assistance with a rehab checklist, mentorship or general advice is more than welcomed and appreciated.

Thanks Family!

I have done let's just say one or two there. Who walked it for you? Who gave you the reno budget? Do you know what the reno should cost, vs just what they tell you? WHO's overseeing your investment? Reach out, I am happy to help you. All my clients are from around the world, we take care of everything. I HOPE you have not closed yet. I will let you know if its a good deal or not. I see many from BP overpaying and buying in the "wrong " area.

0 Votes

Cleveland, Ohio

Quote from @Shayan Sameer:

@Bob Stevens Thanks for your feedback. I was thinking the same thing. Are you an investor? I'm new to the area, so testing fix/flip market.

Yes, however I do all my biz in Cleveland. ( for the last 10 years ) I will not touch FL.

That duplex is NOT a flip, IMO its not even a buy and hold. At 200k maybe,

0 Votes

Quote from @Shayan Sameer:

Quote from @Bob Stevens:

Quote from @Shayan Sameer:

Hi Team,

I'm working on a deal right now at West Palm area... It is a duplex with 2/2. I've never owned a duplex before, so I don't know too much about it. I'm thinking about renting it out, but I'm not sure if it makes sense or not.

Its a 2/2 duplex

Around 300k

Would require 50k rehab or less.

Its only 900SQFT

Rental is around $1500-1700 per duplex

Let me know your thoughts please.

, 900 SQ FT is TINY, I live 10 min from there and will not touch it .36k gross so about 20k net, ( MAX ) all in 375k, TERRIBLE deal 4% net , again terrible

Actually, the net will be less, Insurance will be about 10k, On top of the 6kish in taxes, and other items.

0 Votes

Quote from @Shayan Sameer:

Hi Team,

Its a 2/2 duplex

Around 300k

Would require 50k rehab or less.

Its only 900SQFT

Rental is around $1500-1700 per duplex

Let me know your thoughts please.

, 900 SQ FT is TINY, I live 10 min from there and will not touch it .36k gross so about 20k net, ( MAX ) all in 375k, TERRIBLE deal 4% net , again terrible

0 Votes

Quote from @Samuel Diouf:

The city will just make sure the property isn't hazardous. If it is.. you will need to remedy the issues before you're able to register the unit as a rental. If your unit isn't registered, you could run into major issues with squatters and not being able to evict.

BIGGEST scam in America

1 Vote

Cleveland, Ohio

Quote from @Calum Bressington:

I recently bought a new rental and the previous property management told me I need to get a lead paint inspection every two years in Cleveland, does anyone know anything about this?

Thanks

Yes simple, you have it inspected by a led cirt guy, 500 per door. Of course, plus any work required. We have past about 350 over the last two years . Good news is the FED reimburses you $750 ,so you actually make money,

0 Votes

Cleveland, Ohio

Quote from @Russ Desatoff:

Hello, I have my first deal done and it's was handed over to the property management team a few weeks ago. Do you have any tips or avenues I can take to help them out with marketing my property to find a renter. The property is located in Cleveland Heights. I am putting it up on Facebook, Craigslist, etc. but is there anything else a newbie can utilize that you have found success with? Thanks.

I can rent that in 3 days to EDEN or CMHA, for about 1800- 1900 assuming its a 3 br . I have extensive experience there over the last 10 years. Also, you do NOT need a PM. As an owner you need to stay out of it . Is the POS closed, you have your rental reg and Led Cirt? Who walked it for you and provided the reno estimate? Do you know how much the reno should cost?

0 Votes

Cleveland, Ohio

Quote from @David De La Torre:

Hello Cleveland Investors and Landlords,

Would anyone have any recommendations for reliable contractors and handymen in the Cleveland, Ohio area? I have a single family investment property that I would like to have worked on whenever an issue were to occur! I hope to meet professionals who are great at communicating and doing an excellent job!

All help is appreciated, thank you!

I have been doing biz there for 10 years, I have it all, Props, contractors and much more,

happy to help

0 Votes

Cleveland, Ohio

Those areas are not where you want to be unless you are happy with 5% net caps, Euclid ,you can still get one. You missed the boat by 5- 7 years. CH forget it super high taxes. Your numbers are not reality. You are not getting a fully renovated prop in CH for 130k. Since you are a cash buyer you do not need a realtor. I have done let's just say one or two there over the last 10 years all withOUT a realtor. I have it all, Props, Contractors and much much more.

Good luck

1 Vote

Cleveland, Ohio

All Forum Posts by: Bob Stevens

Bob Stevens has started 87 posts and replied 6294 times.

Post: looking for flipping contractor

Post: Rehab Checklist/ Mentorship

Post: Duplex near the beach

Post: Duplex near the beach

Post: Duplex near the beach

Post: Lead Paint Certification

Post: Lead Paint Certification

Post: Tips for Finding a Renter?

Post: Contractors and Handymen Recommendations

Post: Cleveland investor referrals