All Forum Posts by: Stephen Tice

I’m a local guy and have a bunch around stark county. Congratulations on entering the market! I love seeing new investors. Especially in our area. We’re in north canton-Perry-sandy valley-Minerva. Louisville is a very moderate income area that has a LOT of rentals.

For this deal to make sense, you would need to fetch 1450-1750 per side. Single family 4/2s do not get that in that area. If you bought that 3br each side duplex on Michigan Ave, it’s a really nice building. But… Please reevaluate your numbers- I can’t see a way you can possibly cash flow on this with upcoming permits, repairs, utilities, the stark county sewer bill, landscaping and capex. I think it will cost you around 300-600 a month to own and properties in this area generally appreciate at less than 2% per year. I could be way off, but take another look at the numbers- there’s a reason you feel uneasy about it. -Steve

Hey Troy. Jose Medina is the investor friendly realtor for stark Co. Tell him I sent ya- he’s done a ton of deals for me. Great guy.

Maybe hit up Paidra clean outs. She does cleaning too and may be interested. I can’t post a link, but Facebook search Paidra Clean outs. Alex is awesome, tell her Steve sent ya.

cheers

This is likely in the worst part of town that we refer to as ‘little Detroit.’ 37k multi family homes are abundant here. What’s not abundant is on time rents unless on section 8. We have found over the last few years that even though we are local, we still can’t make money off of these. Tenants are impossible, Vacancy is high and the turnover takes forever after the smha tenants destroy the remodel. We have sold all units in these neighborhoods for a much better experience north of 30th st. Good luck and dm if you need help!

-Steve

Nope! Well, I’m not sure. Some I owned for a few years. 2 I owned for 3 months. So, I don’t think so but not 100 percent sure when it’s only 1 unit

I used first fed in Dover. Scott heil has now closed a few cash out portfolio Refis for me and currently holds 52 units of mine. Nothing but professional. 80% LTV, 15 year, and even called me in dec of 19 just to tell me rates dropped. He charged me a one time 800 dollar fee and dropped my rate 1.25%. Overall I'm pretty happy!

-Steve

Hey buddy I’m from the canton area and have a few dozen around the area. Hit me with any questions you have.

Steve

I didn’t back when I had a few. I figured the insurance would cover if anything got bad. Most rental policies have a liability clause. Ask Brad, tell him you heard about him through me, I bet he can hook you up.

Byert@dryins  is his direct email

Steve

Hey Matt. I used Brad Yert at dry insurance in Akron for all my canton props until I got a commercial product. Highly recommend. Most of my single families were around 35 a month.
Steve

As a buyer you don’t pay fees. If they have an agent already, there’s no reason not to have an agent. Commission will be paid regardless.

I use Kara for off market deals with no agent involvement at all.