All Forum Posts by: Nathan Astrup

welcome @Daniel Smith!

Let me know if you have any questions or want to see some inventory!

I'm in! 

Beautiful remodel. 

@Ted Cantu That was essentially Latin to me! So much to learn!

@Onan Dumas Certain areas are more stringent than others. But the areas I'm assuming you're seeing these prices in (Euclid, The Heights areas) are pretty tough on the POS. There will be an inspection any time the property is sold. The seller could take care of it. But the properties you sound like you're interested in are product of some sort of distress situation or foreclosure. Those will most likely be "as-is" and the violations will be transferred to the buyer.

It won't matter your intended use of the property.

Here's a good link:

http://www.clevelandheights.com/modules/showdocument.aspx?documentid=124

@Onan Dumas You're one of many looking to Cleveland because of the prices!

Here like anywhere else you're going to have to find the deals in good neighborhoods, but it can be done! I'm a RE agent here so I see a lot of this.

Something to look for is POS (point of sale) inspections. The city may require you to put up to 125% of the estimated cost to correct said POS violations into escrow until repairs are made. They can be from chipped paint to mold and foundation issues. But if you don't have the cash to put on hold for a few months you'll be out of the game.

I think you could do great things with buy and hold properties here. Low entry price and pretty decent rent rates all over the city. It is hard to find a nice rental for less than 900-1100 a month.

Let me know if you have any specific questions.

@Jeff Arndt Great post and great job! Makes me want to go do one right now! I think I'm going to house hack a duplex first though.

Also, really well written and financials were easy to understand!! You the man!

@Monica Taylor Check out Keller Williams. I recently got my RE license and joined KW in Cleveland. I love the mindset of the company and the "young" progressive environment. They will provide you with everything you need to learn to be a Mega Agent. Just do some homework on some of the training programs they have and you will see. Check out BOLD on youtube. 

So I'm ready to make the plunge. But... there is something missing.
I have the financing (father in law)
I have done the deal analysis
I have the trusted contractor and my own building experience
I'm a Real Estate agent and know my market
I can aquire below market value deals

What is holding me back? I always thought I was a pretty ballsy dude. But there's just something holding me back from that first deal. Maybe I'm getting caught up in the minutia.

The father in law and I love the idea of flipping. The quick return for him, and the chance to work with my hands again for me. But eventually my goal is to accrue enough capital to build a large buy and hold portfolio and "live" off passive income. I don't think I'll ever stop working, but a week in the sand when I choose sounds amazing. 20, 40, 100 doors? I'm a sky is the limit kind of guy.

Hope you Pros have some feedback for me!

That was awesome by the way.