All Forum Posts by: Rick Rolfe

Thank you @Patrick Drury. Really good tips and insights. 

Thank you very much @Taylor L. @Tyler Gibson @Juan V Lopez @Shane Kelly for your inputs.  I thought that might be the case. In order to get decent coc you have to do some rehab. 

If I purchase a property off market, is that usually through a wholesaler or is it through a Realtor that has a pocket listing? 

Thank you, Rick

Hello team. I am a first time property investor looking for a single fam home or duplex in the Cleveland area (Parma, Bedford, Bedford Heights) or Tampa area (Lakeland, Spring Hill, Seffner). I want to purchase a long term rental.

 My investing criteria is: 

1. Coc (cash on cash) must be 9% or above

2. 100 minimum cash flow per door

3. Rent to price ratio must be .65% or above

4. Rent ready condition/no upfront Capx repairs or updates. Pride of ownership condition

5. Max price 300K.

6. Utility meters are separate and tenant needs to pay all utilities.

After I find a property that matches my rent ready or nearly rent ready condition,  I plug the numbers into the BP calculator.  Some of the properties meet my minimum cash flow and rent to price ratio requirements which is great. 

My Coc numbers are a different story though.  At most I get 2 to 4 % coc if that. 

Should I expect better cash flow numbers if I pick a property that needs more rehab? 

My question please. How can I increase my Cash on cash numbers? Some people get amazing 20 percent coc. How are they doing it? 

Thank you, Rick

Really good ideas for going out and viewing oos income property. Thank you! I plan on going out to view my first property as well and get a lay of the land.

My father taught me many years ago that the best way to see an unfamiliar city or neighborhood is to, if able, walk it rather than drive. 

Good luck all

Hello. I would like some feedback please. What has been your experience (pro and con) with the Azzam Group/ Remax Haven Realty? 

Thank you. 

@Uri Gofman and @David Terbeek. Thank you for your recommendations. 

Hi BP community. I am in the process of establishing a team for my investment in the Cleveland area (looking in Lakewood actually). Can you please recommend a property manager.

Thank you, Rick 

@Brett D.. Hi Brett. I am sorry that your deal fell through. Good you found out during escrow. Good luck going forward. I am sure you will find something great. 

@Brett D.. Cool. Looking forward to reading the post on your latest deal. I wish you the best of luck. 

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@Kevin Murray Hi Kevin. I have only looked at properties on paper in Victorville and Lancaster. So far nothing worth making an offer on due to negative cash flow. I could get a real Junker home but I would have to do a ton of work to it. Are you looking in those areas?