All Forum Posts by: Eric Sztanyo

This house is on the east side of Newport at the south end of Park Ave in a nice area where several rehabs have recently sold in a hot area.

Needs a complete rehab. The house has been vacant for several years with with clear water leakage and mold.

COMPS:

706 E 9th Street – Sold 9/15/17 – $126,500

809 Linden Avenue -Sold 9/18/17 – $157,500

804 Linden Avenue – Sold2/13/18 – $168,000

731 Linden Ave -Sold 8/4/18 – $223,000

Note: I am a licensed real estate agent in OH & KY and have this property currently under contract. I am looking to assign my interest to a cash buyer.

Solid home built by the original owner in the heart of Elsmere. Simple, straight forward rehab and a nice flip.

$25,000

$105,000 – $115,000

$129,000 – sold 06/13/17 – 1107 Henry St

$106,000 – sold 06/23/17 – 1230 Central Row Rd

$99,000 – sold 12/29/17 – 1203 Garvey Ave

For more info and images, go to our website. 

This property is under contract, and I am assigning my interest in the property. 

Call Eric at 859-412-1940. 

Package deal potential. 2 homes under contract within a few blocks in Covington, KY - just across from downtown Cincinnati, Ohio. Both are occupied for instant cash flow with room to raise rents. See the other Covington property here.

Get more details and see other home at http://www.sztanyoandsons.com/property/ or call Eric at (859) 412-1940.

Flip or hold as a rental. Beautiful, large brick home in Covington. 

Has current tenant who has lived here for 8 years, maintains the property well, and would like to stay. Rents have not been increased in several years and have room to go up. Currently rented at $800/month. Rentometer shows median rent of $995 and an average of $1,048 for a 4 bedroom in Covington.

Property is in great shape and current owner has made several improvements.

Or, you can choose to flip the property.

ARV = $125,000

ESTIMATED REHAB: $25,000

RECENT COMPS:

210 E 15th St,
5 beds 2 baths 2,907 sqft
$130,000, sold 09/07/17
1419 Scott St
3/2 2,034 sq ft
$117,000, sold 02/16/17

This Northern Kentucky property is under contract, and I am selling my interest in the contract to an assignee.

Details at http://www.sztanyoandsons.com/property/ or

Call Eric if interested at (859) 412-1940.

Package deal potential. 2 homes under contract within a few blocks in Covington, KY. Both are occupied for instant cash flow with room to raise rents. 

Get more details and see other home at http://www.sztanyoandsons.com/property/ or call Eric at (859) 412-1940.

Flip or rental opportunity in Covington, KY, just across the river from Cincinnati, OH.  Beautiful, spacious home with soaring ceilings and original woodwork. In good condition. Lots of square footage at 2,511. Two extra rooms on 3rd floor (each have closets).

Currently rented with a HUD tenant at $725 / month. Lease is through next September. So, you can have instant cash flow. However, tenant has also expressed that she would move (does not need Holy Cross school district any more). If so, there is plenty of room to raise the rent. Rentometer has 3 bedrooms in the area at $850 median rent.

ARV = $120,000

ESTIMATED REHAB: $20,000

RECENT COMPS:

210 E 15th St,
5 beds 2 baths 2,907 sqft
$130,000, sold 09/07/17

1419 Scott St
3/2 2,034 sq ft
$117,000, sold 02/16/17
Plenty of upgrades made by existing landlord.

Exterior needs new siding. A stucco is partially applied currently over brick shingle on front and side. Staircase to 3rd floor is covered as owner wanted extra protection for children. Used to be a 2 family, but converted to single family. Has separate 2nd floor entrance.

This Northern Kentucky property is under contract, and I am selling my interest in the contract to an assignee.

Details at http://www.sztanyoandsons.com/property/ or

Call Eric if interested at (859) 412-1940.

Price has dropped $8,500 on this property from $63k to $54,500. Seller wants to move the home. 

Find a detailed rehab scope at our website - rehab ranges from $22-$26k based on if you flip or make it a rental. 

Thanks @Sean Dolan, I'll check that out.

@Kurt S. and @Eric Gross, welcome to BP and the amazing world of real estate investing! Nothing like it. Congrats on the duplex, Kurt. Way to take action!

Thanks @Trevor Mauch. Great points. Really looking forward to the Facebook Leads course you guys put out. I have some experience with FB, but it would be great to improve my skills. Up until now, I have been avoiding FB for all the reasons Tom likes it, ha! Instead, I've been focusing on SEO and Adwords because I know the intent. 

However, if you combine a targeted list + low competition (at least for now) in this ad space, it makes a lot of sense. It would allow me to gain all of the things I like about Direct Mail (targeted area, targeted audience, etc.), but have avoided because of my background in Internet Marketing and desire to track and analyze all ad spend. I will definitely reach out in the future to you guys to get help. Great point on being different in each market and would love to talk to you guys more on that.

Yeah, his mindset on advertising and competition was fantastic. Yes, the $1M in spend jumps out at you, but like you said, his model allows him to recoup those costs through agent, brokerage commissions. I love how he's thinking about getting the most out of all of his marketing spend (listings, recycling cold leads, etc.) and has set his business up in a way to do so. Good stuff. Gives me a model to replicate down the road.

Here are some of the insights I heard from Tom:

• People are on Facebook all day long
• Have to nail your Relevancy Score on the ad (fine tune over time). Try to get a 10.
• Ad has to catch attention of person (clean, crisp, good copy)
• Right Audience Targeting - Facebook knows way more than we think - not put ads in front of a renter or real estate agent. Get the right age group (not 35 year olds). 
• Try, test, test, test. 
• Have to have a site that CONVERTS - Carrot, mobile friendly, split tested
• Mailing works, but is oversaturated, especially in competitive markets
• Decide on the types of homes you want to buy - neighborhoods (cities), mortgage balance, age of homeowner, age of home, etc. & build a database
• On Facebook, can upload addresses and show ads to only those people - making sure you are hitting the right people. Hit them with ad over and over again. 
• List creation - List Source is good. FindMotivatedSellersNow by Ken Clothier even better. 

I'm having success with a very narrow Adwords campaign, but because I have it so narrow - the leads are good, just not a tone of them. I'm interested in layering on Facebook Ads. I heard @Tom Cafarella on a Carrot podcast and sounds like he's cracked the code - a combination of a buyers list + Facebook ads (mobile friendly), give you all the advantages of a mailing list, while targeting a theoretically less populated "pond". 

I'm going to try to track down some more info on this, because I see a lot of benefits here. 

@Aaron Phillips, yes, spot on. 

I found the marketing portion of the video very helpful as well. 

Question from attorney and answers from the Ohio Department of Commerce Division of Real Estate.

Since I can market a contract, what are unacceptable ways of marketing that contract?

• Acting as if you OWN the property in your marketing is NOT ok
• For example, you can't say “35 acres of beautiful property for sale”, when you only have a contract. This is not ok.
• Can I market a rental property, looking for investors?  (If you put in the advertising and it looks as if you own the property and you don’t, that is unacceptable.)
• If a reasonable person looks at my ad and would think that I am the owner of record, I am doing something wrong. (Yes). But if my ad says, “For sale, CONTRACT on 3/2 Propoerty with 2400 square feet in Shaker OH”, is this ok? (YES, That’s OK. You are selling your interest in the contract. And, you are not naming a specific address.)
• You CAN'T identify a piece of property. I’m not giving an address. I’m not showing a picture. I’m describing that I have a contract on a property in a certain location. (Yes, that is fine. You need to identify what you have a contract on. Or, no one would read your ad and decide if they want to know more.)