All Forum Posts by: Robert Arquilla

@Randall Alan

Randy thanks for the input. You’re right a lot more digging to do to find all the details and hidden costs.

Thanks for pointing out insurance costs haven’t thought of that

This deal has been on the market for a month now and to be honest I’m surprised someone hasn’t jumped on it, it seems like a cash cow. Here’s the description:

“Amazing investment opportunity! Fully rented units in prime location. Many updates in these buildings with great tenant history. The 3 buildings are a 6-plex, a tri-plex & a home that has been converted to a duplex. Don't miss this wonderful opportunity for an instant money making purchase!”

It’s listed for 250k for 11 units. I figure even if each one rents for 400 (which seems lower than market I believe) that’s 4400 a month. Taxes are 200-300 total. If financed using the traditional method that’s about 1350 per month. Plus 10% cap ex (440) 5% repairs (220) 5% management (220) that’s about 2200 left per month. Am I missing something? What are your thoughts? Seems like a great deal,close to shopping, probably a C area.

Thanks for the input!

Hey everyone.

I’m from Cortland Ohio and just wanted to reach out and chat with some real estate investors from the area (Youngstown, Warren, Cleveland).

Topics

1. How is your guys/girls investing is going, any good lessons learned?

2. Are there are any meets up coming up.

3. What are your opinions on good neighborhoods/cities to buy rentals in (it seems like Youngstown is making a slight comeback)

4. Is there anything I could assist you with?

I have a background in commercial construction/estimating and I’m currently saving up funds to invest in my first multi family rental.

Thanks for your input!

@Scott Mac I did not know one more unit might require a dumpster. Thank you for your input!

Hey BP!

I found a 4 plex in that is rented $1900 gross per month. Owner pays $210 for water and trash per month. It’s a 2%+ deal. There is a large garage that has a possible 5th unit once renovated. However it’s in a D or C- neighborhood. I’m wondering what some pros and cons might be for renting in a sketchy neighborhood. How would you approach this deal compared to a deal in a better neighborhood? The property is with in walking distance to the courthouse square which has some shops and places to eat so it seems like a good location minus the neighborhood.

Thanks for all your input!

Over the past couple years I have been looking at SF and MF houses online and evaluating the deals so that when I’m able to make the purchase I can quickly see if the property is a good deal and put my offer in. I’m just about ready to make the jump but I’m wondering what you guys/girls have done to prepare before you bought your first rental? Should I have a lease agreement ready before I buy, is there other items I should have ready or be thinking about before I buy?

Thanks everyone!

@CJ M.

That’s one of the many reasons I’m researching investing, I have a good, stable job (construction management) but would like to have a safety net in case the unthinkable happens. Thanks for the info and good luck to you!

@CJ M.

Hey CJ how did you get started with real estate investing? I currently am still in the planning stages of real estate investing but your story is really intriguing and I noticed you’re only about an hour away from me. Are you strictly investing in Canton only or are you in other markets as well? I’ve heard Cleveland is somewhat strict on inspections is Canton the same way?

Thanks in advanced!

That’s great, with that being said are you finding it hard to find good deals?

I’m hoping to pick up some rental properties but I’m still trying to soak up as much information as I can before making the jump. One thing I worry about is what happens if we have another crash like 2008? How are you protecting yourselves from another crash? Thanks!