All Forum Posts by: Jared Lichtin

Our investment group just picked up a real nice deal in Southeast Portland. We are located out of state, though, and looking to take this one down ourselves. Rehab is a complete job, but would be interested in referrals from the BP community.

Referrals to experienced general contractors & subs in the area would be greatly appreciated! We are experienced and located in Southern California, so we could remotely manage the project and come up every few weeks.

Our investment group just picked up a real nice deal in Southeast Portland. We are located out of state, though, and looking to take this one down ourselves. Rehab is a complete job, but would be interested in referrals from the BP community. We are experienced and located in Southern California, so we could remotely manage the project and come up every few weeks.

Referrals to experienced general contractors & subs in the area would be greatly appreciated!

@Nicole S. @Antoine Martel@Steven Aviram @Federico Gutierrez @Nicole Heasley Beitenman  @Katie HaneyTo whoever mentioned stay out of the suburbs... while I completely respect your opinion, I believe you are more referring to *mostly* Cleveland Heights & Shaker Heights.. There are plenty of suburbs in Cleveland with great commercial and retail establishments, awesome restaurants and amazing school districts people love to rent in. Stable rents, appreciating retail prices, etc.

Think of like the east side suburbs, B level like Lyndhurst, Mayfield, South Euclid, Twinsburg, or A level like Hudson, Solon, Gates Mills, Beachwood, Pepper Pike, etc. Solid inventory of older homes built in the 50s-70s, older folks dying with ownership who have done virtually nothing cosmetically but still took care of the home, etc. Plenty of opportunity and not much to hear from the city upon purchase.

The POS ensures that neighbors actually take care of their houses, which doesn't happen in areas where the city has no freaking control over anything. Yea, it sucks, but I just purchased a beautiful foreclosure in Cleveland Heights for $87k that will rent for $1500. The POS was $1,100. So, I'll have to escrow that money for a few weeks. Big deal. Sure, these city inspections can suck.. but you SEE THE PRICE FIRST! It's not like you can get in anything and 5 weeks after closing realize you have to deposit money into escrow. Since I buy foreclosures it's way harder for me because sometimes I can't see the POS until a few days before closing. Argh, this is really just a rant more than anything, but doing your own due diligence on the property/street/neighbors/tenants/school district is way more important than escrowing a few thousand dollars that you'll get back anyways. 

What do you think, @Tom Ott? You guys at Smartland are experts and deal with the POS way more than I do!

@Isi Nau No, not yet. We are having our agent head out there this week. I do see some foundation issues on the interior, but the exterior doesn't look too bad. I'd have to see what the contractor says. Do you know someone who specializes in these types of issues?

We just got a killer deal under contract in Waianae, Hawaii (on Oahu). It's a 200k spread, and we do not want to sell it to another investor. We have enough contacts there to get the job done ourself. However, we are stretched pretty thin on a handful of projects at the moment, and we'd rather partner with someone who has done some trust deed investing, or maybe even has some construction connections in Hawaii. 

We can offer a healthy 8-10% return on this 3-4 month project, and we are looking for a trust deed investor to lend about $40,000. We can even offer you equity in the deal.

Here's the house below. Waianae has blown up recently and inventory is really hard to come by, and this one has strong comps over $550,000. We got it under contract for $344,000 total. This is not our first rodeo in Hawaii. We have rehabbed a handful of homes there, but not in Waianae.

If you're interested in discussing, please contact me at your earliest convenience at [email protected].

https://www.xome.com/auctions/87-325-Heleuma-St-Wa...

@Ryan Evans I am headed back to Cleveland on Sept 27 to check on my projects..We have a few light rehab projects there at the moment. Also, I saw on another thread that you are thinking of using Key bank... They suck. If you could find someone else I'd recommend it.  This is the time to be at the front of it! Give me a call sometime and I'd be happy to chat before your trip.