All Forum Posts by: Rick Klimek

Congrats David! Enjoy the fruits of your labor (and get a radar detector!)

Hi -

Looking to partner with a small GC or assemble a rehab team for whole house remodel/flip to commence approximately March 1. I also have cash for additional projects. Please PM me ASAP. Thanks.

Thanks @James Wise. I'm new to this but I would think that those future Amazon employees already live in the CLE market, within easy commuting distance of Euclid. There's not going to be a rush of people wanting to move to Euclid because of a $13/hr. job. I'm all ears though to understand otherwise. Again, I'm new to the SF investment world.

But I do want to say that it behooves any investor/business person to carefully review hard data, financials, spreadsheets etc. to ascertain the viability of a deal. Every business is indeed a "spreadsheet business" if you plan to make money. Sometimes a "gut feeling" might be the right move, but sometimes it's only heartburn.   :)

Thanks again for your feedback.

Hi - can anyone provide insight on the SF rental market In Lakewood? My son is looking for a bit of a house hack with a roomate or two and then rent to a single tenant after 12-18 mos. We know the Lakewood market is tight but wondering how SF rentals are doing? Thanks.

Hi @James Wise - do you have any hard data on the "amazon Effect" you're predicting for Euclid? I can't really find anything that shows proven jumps when the simply open a fulfillment center. Thanks.

Thanks guys. I think I have what I need now. Should be interesting.

The property I'm looking at is a little different in terms of the bank's interest. It's a default on a reverse mortgage...and the original lender has sold their portfolio of these to another bank. In other words, the current holder bought the delinquent loan, most likely at a discount. This leads me to think that their interest in recapturing 100% of the original amount due is less than, well 100%. At least I'm hoping so. We'll see.

@Daniel R. - I received info on some investor-friendly lenders yesterday. PM me and I'll forward to you. I'm new to BP myself so can't make any real thread recommendations yet. My advice would be to get somewhat narrow with what you're looking for. Otherwise, you can get lost in these threads for hours! Good luck

@Daniel R. - I'm looking at cash transactions so don't know about lenders. And I'm looking at suburban markets that may be off the radar of typical investors. Thanks to BP, I've learned a ton about these deals in the last 24 hours. Specifically, guys like us may not get the property at initial Sheriff's Sale because we'll be outbid by the bank (research this - ton of info). But each deal is different so you have to do your homework.

Hey Gwen - I'm curious - is the city requesting these inspections after major (permit pulled) remodeling jobs? 

Hi - looking for some mentorship support on my first foreclosure deal here in Cuyahoga County. Can anyone provide assistance? Thanks in advance.