All Forum Posts by: Lance Johnson

Thanks for replying guys, I sent you both a property overview

I forgot to add that the potential rents total $2400+ with a chance to increase them especially since the property is tenant-free at the moment. Zip code is 44303 in Akron, Ohio. What am I missing here?

Hey guys my name Is Lance, I'm a real estate investor in Cleveland, Ohio.

I recently put a multifamily property under contract that from all the numbers, appears to be a KILLER cashflow property.

I'm asking 88k for a 4 unit property that consists of 2 Duplexes with their own parking and everything. About 5000 will make them rent ready and we estimate 30k or less will make them showroom quality. 

Thats 22k per door and a great cap rate no matter how you cut it.

The neighborhood is a solid C and is even growing on paper. Crime isn't terrible, more than half the residents have college degrees and the street it's located on isn't a ****hole. 

My seller needs the property gone by Friday and I need to figure out why I cant find buyers! Please help fellow investors!