All Forum Posts by: Maria Dominguez

Lol!! That was my first choice but many of them didn’t understand the concept of it and felt like it was a part of a “listing” process. I did find a few on Craigslist that were quick, efficient and affordable (some were a joke but you can determine that early on). Thanks for your input James, I appreciate it.  

Awesome, will do! Thanks @Shane Kelly

 Oops! Sorry for the confusion. I meant someone just to take pics of the property (in/out). No evaluations nor inspection needed. 

Hi! 

I have been dealing with lots of off-market properties in Cleveland, OH. but cannot seem to find a reliable boot on the ground to handle the photography part of it all. I usually catch a flight and try to handle certain things on my own but that is not really an option these days. I know there is a service provider (Velocity REOs, Inc.) that offer many packages depending on the need of the client. I would love to know if anyone on BP has used these services before and if you may share your experience with us, that would be great. I read some great reviews online so far.  Also, if anyone may highly recommend a reliable person in the Cleveland, OH. area that can provide paid "boots on the ground" services, that would be great.  Thanks in advance! 

@Toussaint Hill Hey Mr. Toussaint, I know it’s been a few years this you posted this... Just wanted to hear more about your experience with the broker mentioned above. Are you still working with them? Thanks!

@Bernie Liu Hey Bernie! Did you have any luck with this? I’m looking for the same thing as we speak and would love to hear more about your experience so far. Thanks.

Thanks!! @Dmitriy Fomichenko & @Beatriz Goudie

@Timothy Lewis Thanks Tim!  It was my second buy & hold experience... Learned my lesson big time (don’t get desperate and let go too quickly). I missed out on an additional $100k two years later 😭.   I’m a beginner investor definitely learning as I go. Any tips or tricks? 😝 TIA. 

Thanks hun @Beatriz Goudie  I purchased it in 2015 at 301k, sold in 2019 for 345k.... Now worth $446k 🤦🏽‍♀️. 

Investment Info:

Single-family residence buy & hold investment in Miami.

Purchase price: $301,000
Cash invested: $6,200
Sale price: $345,000

Beautiful new 4 bedroom, 2.5 bathroom, 2 car-garage home built in 2015 located in a great community. Tile and wood flooring, granite countertops and stainless steel appliances. NO HOA, NO CDD!! 6-12th grade academy & new park located right across the street. Conveniently located close to major highways and shopping centers. Roof, A/C and appliances still under warranty. Covered patio area with stamped concrete, gated windows and security cameras installed. Bonus Room is a must see.

How did you find this deal and how did you negotiate it?

New construction home - Inventory model home. Requested new construction incentives from builder (appliance upgrade and money paid towards closing cost). Property value increased once subdivision was fully built and completed.

How did you finance this deal?

FHA Loan - 30 year at 3.75%. Refinanced 6 months later at 3.25%.

How did you add value to the deal?

Added wood flooring/removed carpet. Also, added stamped concrete in the backyard.

What was the outcome?

One of the few homes for sale in that area that did not have carpet. Received multiple offers right after listing at and above asking price.

Lessons learned? Challenges?

Should've held longer. This property is now worth $446,400 (big regret).

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was my own agent (licensed in FL).

Investment Info:

Single-family residence buy & hold investment in Miami.

Purchase price: $301,000
Cash invested: $6,200
Sale price: $345,000

Beautiful new 4 bedroom, 2.5 bathroom, 2 car-garage home built in 2015 located in a great community. Tile and wood flooring, granite countertops and stainless steel appliances. NO HOA, NO CDD!! 6-12th grade academy & new park located right across the street. Conveniently located close to major highways and shopping centers. Roof, A/C and appliances still under warranty. Covered patio area with stamped concrete, gated windows and security cameras installed. Lots of parking space, Laundry room upstairs, and bonus room downstairs. Dual sinks, his and hers walk-in closets and more.

How did you find this deal and how did you negotiate it?

New construction home - Inventory model home. Requested new construction incentives from builder (appliance upgrade and money paid towards closing cost). Property value increased once subdivision was fully built and completed.

How did you finance this deal?

FHA Loan - 30 year at 3.75%. Refinanced 6 months later at 3.25%.

How did you add value to the deal?

Added wood flooring/removed carpet. Also, added stamped concrete in the backyard.

What was the outcome?

One of the few homes for sale in that area that did not have carpet. Received multiple offers right after listing at and above asking price.

Lessons learned? Challenges?

Should've held longer. This property is now worth $446,400 (big regret).

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was my own agent (licensed in FL).