All Forum Posts by: Gino Tomba

Nice to meet you and great to see a new face I haven't seen around here!

Ya, I definitely use it with a grain of salt. I am from the East side so I know nothing about the West side other than my pre-conceived opinion when I hear a certain city lol. Good call on that last part. I actually had that same internal conversation with myself last night. Thanks for the advice!

Hi BP,

I have studied Cleveland-neighborhood-grades for awhile now, but I am still not feeling confident understanding what I could get for rent in certain areas with a duplex.

My original search was based solely in Lakewood and I was confident I knew how much I could get for rent in regard to area/condition because I have a close friend with a few under his belt there, but I have now expanded my search as far west as the Lakewood border down to north of Middleburg Heights. 

I understand checking out Zillow, Hotpads, etc., but I am becoming hesitant putting in offers in areas like Brooklyn/Old Brooklyn/Parma/Parma Heights/Puritas/Detroit Shoreway/Kamms Corner because I just don't have as much of a connection and I feel those areas are not as sought after as the more hip North of route-90 areas.

Advice? Or a better resource for info?

Thank you everyone!

Hey BP,

Put an offer in on a Duplex Saturday night 8/24 after it took about 3 weeks just to have my viewing with the owner, who is older and seems very meticulous. (One big reason why I am interested, seems to have kept it up well)

My agent and I have had intermittent communication with his agent and seems to be showing his own frustration with the buyer because he is so slow to make any decision.

All we know is the owner threw out one low ball offer prior to us and since the last we spoke with his agent, I am the only offer on the table.

I hate this not being in my control and we put no contingency in the offer as a time limit. Any advice, other than to just stick it out?

I want to pressure him with threatening to revoke the offer, but his agent is hard to get ahold of. (Pretty sure he is sick of dealing with owner as well and doesn't feel like he will ever make his commission) and being in sales myself, I know that could just rub him the wrong one and throw my offer out as well.

Pretty sure I'm SOL and at his mercy, but curious if anyone has had a similar situation that could lend some advice.

Thanks everyone!

Hey BP,

Frustration has mounted the last 6 months not finding my first duplex to reach my goal of 3 in 3 years. Time is money and the longer it takes, the further I set myself back on my goal. I am looking anywhere west of Cleveland above 480 at this point. I am now considering my plan B.

Beside the obvious downfalls of consistently needing to clean up after short term tenants/inconsistency of income, what is your opinion on cash-flow/benefits between the two? I can get a GORGEOUS Single Family that doesn't need a thing for a fraction of a duplex that "needs work".

The plan would still be to buy the next property and live in it after 12 months (as FHA permits), and traditionally rent out this first purchase SFR.

Thanks in advance BP'ers. You're the best!

 Thank you! Great seeing someone from Cle as well. I can't wait to grow our specific forums and bring knowledge real time knowledge/experience from my journey!

 Haha thanks Aaron I see what you did! I'm excited to help and be a contributing member. can't wait to talk about my progress! 

Hi BP,

I made a connection with a landlord that would like to find something to rehab and rent. I originally was looking to buy one of his current properties, but nothing I could do a deal on. The conversation continued and he knows I am actively evaluating his target market, so he asked me to let him know if I find something to his liking (he gave me a few loose requirements) that we can do a wholesale deal on. 

I am not looking to make this a business, I understand there are legalities I need to learn, but how does a guy on the couch wholesale a property?

If I find a home, no matter how hard I try all he has to do is google the address and go buy it himself. Seems like a good guy that may have a moral compass and still do the deal with me as a finders fee, but is there ways to give myself the advantage? Not trying to make this a career, just trying to go after opportunity.

Thanks Ladies & Gents

 Simple and concise. Thanks man! Great reminder to breathe and look over your numbers.

Hi BP!

I never got to properly say hello to an awesome community! I am a Mortgage Banker looking for my first house hack deal. I know, yawn, right? 

I have been actively searching on the MLS with my agent and also hunting for off-market deals from Craigslist rental postings. So far I have spent 30 minutes texting/emailing advertised rental units in my area and have already made multiple real estate connections with people open to selling, keeping an eye out for me, a real estate agent, and even someone looking to buy wholesale from me since he knows I am actively searching (guess I have to learn how to wholesale now)

I am hungry, but also patient. Can't wait to find my first multi-family and be able to add some experience to these forums!

Hello again and thanks for reading :)