All Forum Posts by: Joe Cantanzriti

@Moses Berkowitz Love the idea of a major student housing project at YSU, it's certainly much needed that's for sure. Would you be able to send me any details of the project? What is the site that you currently own, parcels, addresses, however you may have the information? 

@Moses Berkowitz I am very familiar with that site if its the one that I'm thinking of.... went out for RFP last year through the university? Is it the property owned by YSU currently or something else? What are your intentions with this one, looking to sell the plans and property to an investor or something else? 

Moses Berkowitz I'm always interested in multi family here in Youngstown. . What do you have? Send me a message, thanks!

@Michael Upshur 

Posting the listing there certainly sheds a little more light on the situation.... I'm going to guess that the reason they are looking all cash in this case is because its a NYC Greenwich Village location, nothing to do with the condition or a distressed situation. Just put simply, all cash means no contingencies and in NYC that's the way the game is played. Maybe an NYC realtor could chime in but cash is king as they say, and in NYC cash is everything. The majority of property there is purchased with all cash so that's the standard. 

@Esteban Camacho Sounds like a pretty exciting and aggressive first deal! Certainly get in touch with a real estate title attorney to check into this one first to make sure you can actually legally get it over to your name and also that there aren't any deed restrictions on title that would hinder you from changing the use to residential.... also check with local zoning of course. 

If those check out, time to start chatting with an architect to see if/how you can change this thing into a 4 plex and start to put together some numbers. And that's just a small piece of the puzzle of course......

I'm guessing this is in a pretty decent area since you'd be putting some massive funds into this for renovation? Planning on keeping it as a rental property or selling it off?

@Olivia C. That's a great find on that website... thanks for sending that my way. 

@Glen Fagin Thanks for posting that experience with them, I haven't actually spoken to any investors who had properties with them so that certainly helps. Who did you end up replacing them with? 

@Brent Coombs I would think you would be in the range of around $600-$1000 a year with most insurance providers of course this depends greatly on the home location within the 44502 zip, some areas will be a bit higher than others and of course the size of the house. Unless you went with an insurance policy that wasn't based on replacement cost but based on the market value and had a higher premium.... I have 2 policies on 2 of my properties that are owned free and clear in which I have it only insured for pretty much market value which is less than half of replacement value. Drops my policy to ~$500 a year for the one home valued around $50,000 and the other is around $650 valued around $75,000. Though the 44502 zip is a higher premium than where mine are due to high crime, vandalism & break-ins in much of that zip. 

Is there any other possible use for this land or does it strictly have to be residential single family? Not quite sure what uses there could be that wouldn't need any water/sewer but just throwing it out there for some thoughts. . Maybe build a couple private tennis courts, a rentable pavilion, spaces for people to rent and park a tiny home? Plant a bunch of pine trees and sell xmas trees? There has to be some way to generate some money here. Someone out there has to have a crazy idea that could work. 

@Julie Marquez

I appreciate your response, I have done some 3D floor plan renderings for my own properties as a part of differentiating the marketing of them for tenants so I suppose there certainly would be a market for real estate agents as you had mentioned. Most of the time it's pretty much from scratch unless someone had an actual set of floor plans to work from so as far as a cost I'm not quite sure yet what would make sense for me and of course the actual brokers/agents or the property owners.

My long term plan is to get into new developments so I'm hoping this could be a path to start networking in that circle with a marketing strategy for the developers of new projects, or renovation projects for that matter as well. Of course the majority of them may already have an architect and/marketing team but we'll see how it goes. 

Josh Hanna You will need to be under a brokerage here in Ohio, though there are always brokerages willing to take you on even though you may only be intending to use your license for your own REI. They may see value in having you aboard as a referral source if nothing else. You will have friends and family who will need a realtor and should you decide not to assist with those, you would most certainly refer them to another agent in your office which would benefit the brokerage. I think getting your license is a must, it doesn't mean you have to work with any buyers and sellers but having it allows you the opportunity to send referrals and get paid for it, not to mention the massive benefits of having direct MLS access and ease of access to properties as well.