All Forum Posts by: Zoran M.

Our Cleveland flip took a little over five months to complete.  We've since moved on a full rehab of a duplex in the historic shaker square area.  We're anticipating a rehab budget of $70K, which is on top of our $50K purchase price.  We're forecasting gross rents of about $2,200/mo - with a focus on students of Case Western University. 

I'm terrible at updating these types of things.  Regardless, we're done and listed a little over a week ago.  List price of $299K.  Total rehab costs were just over $144K - or $4K over our initial budget.  Interestingly enough, we're actually RedFin's first listing in Cleveland.  Sure can't beat a 1.5% commission :-) 

Crazy. That's a senior housing building owned by Millenia Companies - they're pretty big. Also, that's the neighborhood where Bone Thugs & Harmony are from. Pride of Cleveland! Can't say it's all that bad considering :-) hahaha I listen to First of The Month every time rent rolls in :-)

Hi @Marko Zlatic - great article!  Nice to see a fellow Yugoslav on the board.  

Have you committed to any builders yet? My father-in-law is a home-builder based out of Youngstown, Ohio.  He does homes in the $125-450 range in several developments.  Mostly custom, but if allowed by a developer to enter their development, he'll put up several spec homes. 

@Marko Zlatic - my uncle did something like this for a 125 unit building in Columbus.  He is a builder and owned a plot of land adjacent to another plot owned by a developer.  

He was going to build at 1% profit and take a 10% stake, plus get FMV for the land.

10% is typically the builder cut.  30% is high, unless of course they are puttign up some equity. 

My uncle ended up doing 50/50, but he is not the builder. 

This is great! 

Additional fields might include:

- Tenant Quality

- Construction Timelines held to

- Average time to place tenant 

Hi @Robin Boodhoo  - could you be more specific? Are you looking for private lenders, hard money lenders, banking references, etc?