All Forum Posts by: Darrell Shepherd

@Jay Hinrichs fair enough.  Sounds like your guy is doing all the right things.  I'm looking to do more like 12-24 a year.  I'm doing all flips though.

I've talked to Smartland.  Impressive outfit.

The POS is a trip.  First time I ran into it I was like "wait, what?  You can't be serious"

I like it, though.  Completely eliminates the amateur competition in the bigger rehabs.   My last two escrows were $66k and $82k.  not a good way to secure that money so you've either got to have good relationships with private lenders or a whole lotta cash to rehab biggger jobs in those areas.  I just build the extra money costs into my numbers when most people can't get the loan.

Biggest problem I've got is getting the work done on time and budget. Story of my life it seems.

@Jay Hinrichs if you are going to be in Cleveland, let me know.  I'll fly up there and shamelessly buy you a fancy dinner for your thoughts on Cleveland.  Actually, I'd just love to hear your story and talk some shop.  I'm 100% in Cleveland now and keep a place in Shaker Heights, but still spend most of my time in Atlanta so would need a heads up to be up there if you are up for that kinda thing.

I invest in the areas he mentioned.  Just watch taxes, they are sky high in the "heights" suburbs which skewer the landlord numbers.   Its like 4% of value each year...My county in Atlanta is more like 1%.  Crazy stuff.  Its less in other areas, but still high by my standards.

Just looking to find some investor networking meetups in the Cleveland area.  The posts I found on a search were old, can someone point me in the right direction?  

It's dried up a LOT since I started in this market two years ago. Definitely real hard to buy out of the MLS and get real deals these days. There are some hedge funds in town and that's most of what killed the Atlanta market. The "wholesalers" who didn't know what they were doing muddied the waters there quite a bit too. Haven't seen much of that in Ohio, hopefully things stay that way.

Bottom line is there were more REO's here than investors before driving down prices for a while and now there are more investors than REO's and that's making the good deals way harder to find. Still a lot of opportunity around here, though.

I keep a house in Cleveland (Shaker Heights) so it's my Ohio home base.  Would be open to anything really.

I'm looking to get licensed in Ohio and need a sponsoring broker.  Currently licensed in Georgia.  Don't plan on doing anything buy my own stuff so am not looking for a big name outfit, just a reasonably priced place to hang my shingle.  Volume  should be about $4 mil a year.

Also looking for rehab opportunities within about 50 miles of Cleveland and have cash ready to go if anybody has anything.  Single or multi family.  I'm doing mostly east side right now, but looking to get into Ohio City and surrounding areas and am totally open to new markets.

Looking for wholesalers/investor friendly agents in Cleveland.  I've been doing mostly east side- Shaker, Cleveland Heights, University Heights, but willing to go just about anywhere in the area if the deal is right (I'm Atlanta based, but keep a place in Shaker).  Looking to buy 20 or so properties in the next 12 months.  All rehabs, but willing to do rehab to hold if I can get the right discount.  Single/multi doesn't matter, but only residential.

I do mostly Shaker Heights, Cleveland Heights, University heights.  Let me know what you get in these areas.  I'll chase a deal just about anywhere that makes sense, but don't like to do anything that isn't worth $125k or more when finished.