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All Forum Posts by: Damian Ramirez

Damian Ramirez has started 10 posts and replied 68 times.

Post: 3 Properties and 7 Units in 8 months!

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Good stuff! @Antonio Cucciniello

Where do you happen to invest? 

Post: Which zip codes are good to invest @ Cleveland OH

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Hello @Azmat Hossain

We aim for low crime neighborhoods that are C+ and above and for us those cities/areas end up being University Heights, Cleveland Heights, Shaker Heights, Kamms Korner, and some parts of South Euclid that are closer to University Heights and Beechwood. 

Hope this helps

Post: Investing in BRRRR Deals Passively

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Hello @Kelly John Walsh

I am currently not doing what you are doing when it comes to just passively investing with investors for equity, however eventually I would like to in order to do less of the work. 

I think it can be a good idea for what you are suggesting, depending on the person and their current situation. There are investors that are looking for other investors, like yourself, that would prefer for a passive partner or lender. Although, It might be difficult to find someone, especially a seasoned investor, that would be willing to give up equity in a property for lending. 

I'd have to agree with Ryan and say it might be something to consider to lend to an investor for a percentage of interest on the capital you lend and gradually move up to equity partners on a few properties here and there once a good relationship is established. Investors, including myself, would like to know who we are partnering with before we get into an equity partnership on a property. As they say, baby steps.

If you'd like, I can send you a PM and perhaps chat about this. We might be willing to work with other investors that are looking to do what you are suggesting. 

Post: Finding the best fit Investing Partner

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Hello @Jeremy Pope

Finding a good partner can be difficult. I suggest finding a partner that has skills and strengths in which you might not have. If you don't have experience, find someone that does. No Capital? find a partner who does.

Pick a market or multiple in order minimize your pool of potential partners, but keep an open mind to other potential markets if you come across an investor that might be open to partnering if they're experienced in a market you might have not thought about investing in. 

Also, ask questions, vet them and verify statements/info that they tell you, better to be safe than sorry.

If you have any questions just shoot me a PM. The team and I invest in Cleveland and have been for about 5 years so if you ever take an interest in that market, just reach out and I will gladly help.

Post: First time investor, looking to start with Turnkey

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Hello @Sanjida Ayub

I don't know of any turnkey companies or use them personally for investment properties. However, I do invest in Cleveland areas in which the neighborhoods are C+ and above. If you happen to look towards that side of the country I'd happily share information on the Cleveland market, referrals and aid in anyway I can. 

We are currently working on 6 new properties we picked up over there in which 4 are MF rentals and 2 are flips. We've been in the market for about 5 years and have our own boots on the ground team as well. Which includes Project manager, Property manager, realtor, and contact. I'll shoot over a connection request. If you are looking at Cleveland just let me know and I'll try my best to answer the questions you have and can ask around for a reputable turn key company if you'd like me to. 

We also are always open to partnering/Jv if you are open to that as well. There are enough good deals to go around and plenty of profits to be made that can be shared. 

Post: Investing in Cleveland from California

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Hello Luis,

Seems like you're no so far from us down here in Newport Beach. 

We actually invest in Cleveland and focus on C+ and above neighborhoods. The margins aren't slim with little profit in Cleveland, you just have to know where to look. We currently have 6 properties under contract in which all are located in Shaker Heights, University Heights and Cleveland Heights. 4 of those 6 are rentals and all 4 are multi families that bring us 15-20% Net Cap rate or 10% at the very minimum, which correlates to 600+ in net cash flow for each of these 4 rentals. 

As for flips, we're seeing 600%+ ROI with great net profit.

If you have any questions about the Cleveland market, let me know. We're not agents there, but we have been investing and wholesaling in Cleveland for 5 years and as well in California for 10 years. 

Post: Starting out and looking to connect and learn

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35
Originally posted by @Julissa Velazquez:

Good afternoon,

My name is Julissa. I am a newbie in the world of real estate, still learning and gaining as much knowledge as possible, alongside my partner, before we make the first real step into this journey of REI. We currently reside in New York City and are leaning towards a long distance BRRRR in florida. Am interested to know how you got started, what strategy did you take on, and what your investment experience was like. Also if you have any tips suggestions, I would love to hear. Thank you for your time !! :)

Hello Julissa,

Welcome to BP! 

to answer your question, I suggest picking an OOS market and going with it 100%. I know you said you're thinking Florida, but make sure to do all your due diligence on a market. Look at their Unemployment rate, foreclosure rate, median income on specific markets, major companies with offices there or if there are new jobs being created, etc. There are a lot of factors that play into picking the correct market. 

Also, if you don't happen to have all the experience or knowledge on the market you choose, find someone who does. It's always a good idea to partner with someone who has experience in what you are attempting to do. However, you have to make sure you pick the right partner and you vet them thoroughly. 

If you do find someone that works well with you, make sure their strengths are what you lack in. Since you're new to investing, find someone who isn't and who has some properties under their belt in order to help with obtaining a HML (hard money loan) with good terms. Or if you're in New York, perhaps someone who has boots on the ground in the market you're choosing.

If you have any other questions, feel free to PM me. I'll shoot you a connection in the meanwhile!

Post: Potential First Deal, Kind of Scary!

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Hey @Ty Dunse

Good stuff on getting your first potential lead! 

Like yourself, I'm also 20, so I know the struggle when it comes to the age situation and being able to obtain lending. Luckily I partnered with an investor and am able to do real estate, gain more experience under my belt, work on my lending situation and earn profit from the deals we do. 

The route I took might be the same one you should look into taking as well. Find an experienced investor that is willing to help you, teach you and partner with you and some of your major problems will dissipate once you have someone backing you up. 

Also, since you happen to be in the midwest, I can possibly help since we focus on the midwest states when it comes to our flips, buy and holds and wholesaling. I'll shoot you a connection and PM.   

Post: Where to invest rental property

Damian RamirezPosted
  • Investor
  • Newport Beach, CA
  • Posts 74
  • Votes 35

Hey Chen,

I haven't personally heard anything about Milwaukee, but I do know a bit of Indy. Although, I would personally say that the market is saturated with investors and are less good deals to go around. Also, Indy is know to have little to very few multi families as not many were built. There might be some around that were converted from a SFH and some truly built MF's but they are possibly already rehabbed for the most part. MF and SFH are usually asking top dollar in the appreciating areas such as fountain square, old south side, bates hendricks, broad ripple, butler tarkington, etc. I can perhaps be incorrect, but from my own search in Indy, it seems to be the story.

Columbus I don't know much of other than that it seems to be a hot market. However, we invest in Cleveland and have been for 5 years. As of yet, its been doing really well for us. We get at minimum 10% net cap rate and on average 15-20%, as for flips, they have been amazing. If you have any questions or just want to chat, feel free to PM me.

I completely agree with @Account Closed. Asking these important questions and how the potential partner responds and what they tell you is vital. Pay attention closely and verify the information they tell you. If you verify thoroughly, and the information checks out, then you know whether they are the real deal or not.