All Forum Posts by: Nicholas Novak

@Adam Craig Cool house dude! Wherever did him get it?!?  😜 Hope the rehab is coming along well and we can find you another when this is done... 

Hi @Lygia Bernardes I wholesale here in the Cleveland Metro Area. Let me know if I can help?

I can't speak to any other area, they may have something better to offer. I am in Cleveland, wholesale and fix flip, so not your strategy. Return on investment for some c and b areas are still reasonable but just like the rest of the country, prices are on the rise.   Might help with the refi tho.  

@Rochelle Davis DM me, I do a lot of assignments in Cleveland area. May be able to help

if the rent numbers make sense for investment, wholesale to a buy and hold investor who would love a property already cash flowing

You can do long term hard money financing, lots of lenders will do a purchase/rehab loan that will convert to a  permanent loan at 6-8%.

As far as if you need more time on hard money most lenders will charge another round of points if you go over the 6 months on a non permanent loan

You could try Hard Money lenders.

Get on all of the wholesalers lists in your area. Call the HomeVestors guys, they always have houses at wholesale prices. Also get as many bids as possible until you find a contractor that works within your budget. It takes a while to find one but once you do you have got them. At least for a while. When they bid the jobs give them a budget, tell them it's not a negotiation. If they can do it they will, if they can't, they won't. Hope this helps, good luck!

Why not try to bring buyer before renewing the lease and see if they want it? If they do then let them decide what they want to do with the tenants. It's important to note the buyer will want a much larger discount if the buyer has to evict the tenants. If you can't find a buyer, let the seller make that choice later.  I don't understand your market but if it takes removing the management, vacancy, repairs and capex to cashflow it's most definitely not a deal, especially on a cash purchase. Maybe spend some time determining what investors are paying for particular returns in this neighborhood to see where the rents need to be vs. the investment made. Hope this helps

exactly, same with Ohio, illegal to use funds from the second transaction, call a bunch of title companies, not just one because there are a lot of them that aren't familiar with assignments or double closes and think that those are all ilegal.