All Forum Posts by: Al Perez

Huge 3/1 SFR in need of rehab. It needs new plumbing, furnace, hot water tank, electrical and total paint. Good roof and foundation. Nice, quiet street

Recently rehabbed 4/2 in Old Brooklyn. Tenant will move in on Apr 28 and will pay $1,100 per month. Over 15% annual return. Brand new roof, electrical and HVAC up to code. New appliances and newer hot water tank and windows. Two-car detached garage. Moving in condition. 

Duplex in good condition. First floor tenant is leaving the unit. Two-car garage. Duplex passed all City's inspections. Two brand new furnaces and electrical up-to-code. Area of units is approximate

Hello Isi, I wish I could help but I wasn´t investing in Cleveland at the bottom of the last recession. I just sold though an occupied SFH for $25K to a friend of mine. In parts of zip code 44102 (Clark area) you still don´t see a real appreciation as in other areas.

Cheers,

There is no POS (Point o Sale) in zip code 44109. Maybe Stephen doesn´t know what Point of Sale means. It´s a list of repairs asked by the City to be done within 60 days after the purchase. Are there better neighborhoods? Sure, but in terms of return (I invest there, I don´t live there) 44109, in my opinion, is one of the best (low prices, lower City taxes compared to Parma, Shaker Hts, etc, and high rental demand).  I hope it helps. 

Hello Stephen, I´ve been investing in the area for the last 4 years. They are not bad neighborhoods and, as a mater of fact, the properties in the area show good return (due in part for its low prices). One of my clients has a duplex on W 95th St with Section 8 tenants and he´s happy. Another one has a rental on W 101st. I own a duplex on W 101st without any problem. 

I wouldn´t invest in an asset relying exclusively on appreciation. That´s big NO for me. Cash flow is what makes you wealthy. I don´t see any future in that deal Nicholas.