All Forum Posts by: Keivan Cross

Currently on the lookout for reputable wholesalers specializing in single-family homes within the Cleveland, Ohio market. Seeking partners who possess a keen understanding of local real estate dynamics and can offer valuable insights into promising investment opportunities. With a focus on quality properties and favorable terms, I aim to build a strong portfolio and maximize returns in this thriving market. If you're a wholesaler with a knack for sourcing lucrative deals in Cleveland, let's connect and explore potential collaborations.

5 Votes

Cleveland, Ohio

Quote from @Spencer Marshall:

Hey Keivan, I stumbled across this. Did you ever end up getting some insight into the North Riverdale area?

I did not. Can you assist?

0 Votes

Dayton, Ohio

Yes, we were able to get some credits for the roof. However, the tenant is problematic and hasn’t paid rent in months. The unit is in dire need of a rehab. Apparently, the owner started the eviction process and is scheduled for court 8/3 closing is schedule for 7/17. @Benjamin Aaker

0 Votes

@Benjamin Aaker as per agreement unit must be delivered vacant at close. Tenant does not want to leave. What are my options? Should I move on or ask for sellers credit to assume the eviction process?

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We are past the inspection period. My mistake was not getting an estimate and professional opinion on the roof until after. The idea was to repair the roof and defer a new install. Turns out it is at end of life and recommended to install a new roof. This mistake is on me and a huge lesson. I will lose the EMD at this point. @Benjamin Aaker

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Inspection has been complete. We discovered today that the property will need a new roof which puts a huge dent in the deal. How do you recommend negotiating with the seller for credit? If I can't get credit I will not be able to move forward with the deal and lose EMD. @Benjamin Aaker

0 Votes

Quote from @Keivan Cross:

Quote from @Benjamin Aaker:

Do you have the funds to put 57k into the property right now? What I mean is whether you will be able to continue investing in future deals, or are relying on the cash flow to fuel other deals. It'll take a long time for $6,840 to build up the next down payment.

These deals depend on your situation and goals. Assuming your numbers are spot-on, it'll take you 8.3 years to rebuild your investment fund. I'm fine with the return, but you will be sinking a lot of money into it to get started. A C class will have some unforeseen expenses as well. If you are looking for only one deal in the next 8 years, then it probably works. If you want to rapidly expand, you should restructure or move on.

Thanks @Benjamin Aaker this makes sense. I am leveraging some cash I have access to. However, there are other ways I can access cash for future deals so being able to pull this cash back out isn’t a huge deal.

Appraisal just came back at $115k without repairs. What is your take on this? @Benjamin Aaker

0 Votes

Quote from @Benjamin Aaker:

0 Votes

Quote from @Hamp Lee III:

If I can’t get all of my money out of a deal, I pass on the property.

I’m in your situation looking for properties now and I passed on every one.

Keep working your numbers and know what works for you.

Every good deal isn’t good for you.

Thank you for your insight

0 Votes

Please advise on the following deal. This is my first deal in Dayton, OH.

$94,000 Purchase Price

$30,000 Rehab

25% down + Closing= $27,000

All in= $57,000

ARV= $125,000

COC= 12%

Neighborhood Grade= C

Considering I will not be able to get all of my money out of the deal with a 75% LTV. Is this still a good deal?

0 Votes

All Forum Posts by: Keivan Cross

Keivan Cross has started 11 posts and replied 36 times.

Post: Seeking Wholesalers in Cleveland, Ohio

Post: Looking for Insight on North Riverdale Area

Post: Help Analyzing this Deal

Post: Help Analyzing this Deal

Post: Help Analyzing this Deal

Post: Help Analyzing this Deal

Post: Help Analyzing this Deal

Post: Help Analyzing this Deal

Post: Deal Analysis Help

Post: Help Analyzing this Deal