All Forum Posts by: Dimitri Metropulos

@Brian Garlington @Bob Collett @Mark Whittlesey @Bill Pate @Dawn Anastasi

Do you guys use the Section 8 benefits to invest in developing areas and get a fair market value for rents to increase your ROI? I was looking at developing areas on the east side of Cleveland and obviously they have a higher risk to balance out the higher ROI but if S8 gives a fair market value for rents the Cash on Cash returns for the properties are great. Just curious if anyone utilized this risk/reward tactic to ensure on time payment in an otherwise location that would be hard to get not only an on time payment but a rent check high enough to make it worth it.

Thank you for all of your input!

@Bob Collett Thank you for your response.  

So most of the negative feedback you have experienced was with the customer service not necessarily the tenants that you had.  If you don't mind me asking did you manage these yourself and where were they located?

Just wondering if anyone is utilizing Section 8 on any of their properties and how they feel it is working for them.  I understand the pros and cons of taking this route but wanted to hear from someone that has actual experience with it.  

What Property Manager do you use if you don't manage them yourself,  What are your struggles and successes you have had... etc.  Any information about your personal experience would be greatly appreciated.

@Anthony Miller and @Matt Bowler I am looking to do my first deal and have been looking for a HML. Sorry to interject on your feed but was curious if you could elaborate on what a draw fee is? I have just begun looking into HML and would love some insight on them if you have any knowledge to share.

Thanks!

@David Bokman I appreciate the advice and you are exactly correct. The market is hot and the deals go very quick, this is exactly what drove me away from the MLS because every house had multiple offers and was going far above ask. I have begun networking to get on buyers lists and anything I can do to get my name and what I am looking for out there. My next objective is to find a trusting GC in my area so that when I get a good deal I have someone that I can count on to make the necessary improvements.

@David Bokman and @Brian Garrett Thank you both for the advice.  In Cleveland from the wholesalers I have talked with already they have said doing Hard Money would be an okay option.   I also agree that off market buying is going to ultimately be the way I get the best deal and returns.  

Any other advice you guys have about landing my first deal you guys have to offer I would love to hear it. 

@Ken Nyczaj You are correct with how competitive the market is here.  I respect your strategy on creating your own pipeline to find deals compared to going through another wholesalers deal.  I think going off the market is what I have been leading towards and will ultimately do, I just need to align myself with a trusting GC and private lender so I am ready to jump on the right deal when it comes to me if I don't have the appropriate cash necessary for it.

@Lesley Ray I am in the same boat as you trying to get my first property in Cleveland.  I know this is late but remember looking at both of those properties actually and getting numbers that weren't good.  

Rob said it best that I and yourself were late to the party...  I wish you luck as you continue your search!

@Rob Gillespie I know you were giving advice to Lesley but it helped me as well so thank you for the words of wisdom.  I like the Old Brooklyn area and have started looking over in Euclid as well.

@Spencer Cornelia I agree with you that there are no problems in looking at the different properties people present to me but was looking for more of the differences like buying all cash with a wholesaler or finding throught a private lender, the sold "as is" aspect to wholesale deals and etc.. compared to the MLS which I view as a more traditional approach.

Thanks!