All Forum Posts by: Nicholas Misch

@Josh Raikin - what makes it an awesome investment property? Even if you get a seller under contract, it helps to know what others would pay for it in that area. The buyers are the other side of the wholesaling equation.

Two approaches I would take:
Get the property as close to 50% of ARV as possible under contract. At that point you know you have a solid deal then can shop for buyers at local REIA or advertise on social media groups that have investors.

Other way, get a verbal offer at a price you thing is a good investment then start contacting buyers to get a feel for what profits/purchases they make in the area.

Good luck!

Have never whoelsaled before, but found a property that would be an awesome investment property. Unfortunately, I can't afford it on my own and don't have a partner yet. Tuesday is the latest day I can make an offer for it. So, wholesaling came to mind as a possible option-- as the highest offer for the property could be beat by an all cash offer for less than highest bid, or even a higher offer could be made to acquire the property.

However, I'm not sure where to go for prospective buyers interested in OOS or in Cleveland, OH. 

What process do I undertake to wholesale this? Any resource recommendations for a step-by-step?

Hello everyone my name is Rich I am ready to change my life and situation. I am 20 minutes east of Cleveland,Oh I want to get started with duplex’s. 

I'm originally from University Heights / Cleveland Heights, live in Hawaii now and am beginning to research purchasing properties in the Maple Heights, Warrensville Heights, and surrounding areas. 

My plan is to both reach out to both motivated sellers (marketing / text / direct mail) and wholesalers to purchase houses with cash, then sell the house (possibly after a small repair) and carry the note long enough for seasoning so I can sell the note at a reasonable discount. I also like the idea of building a bit of cash flow by carrying a 2nd note and hang onto it for the monthly income.

Deal specs to include:

*Down Payment – 20% or more (10% Min.)

*Credit Rating – 650+ ideal, 600 minimum

• Interest Rate – Fixed 9-10%

• Term – Fully Amortizing (10 to 15 years)

• Income – Ability to Repay (45%+/- Debt to Income Ratio)

• Reserves – Taxes & Insurance

• Servicing Through A Licensed Third Party rolled into payment

Another potential strategy would be to acquire houses and then fix and flip. I haven't begun building out a team so I'm a bit away from jumping into this strategy.

I'd like to connect with other investors who are doing this in the Cleveland area to compare notes and refine strategies. Please reach out as I'd love to hear your thoughts or at the very least talk some Cleveland Browns football.

Attempting to buy my first out of state SFH in Tennessee. Been analyzing for a couple weeks with nothing coming close.

How you getting even a little bit of cashflow with house cost so expensive and intrest rates through the roof???