All Forum Posts by: Thomas McTier

@Brian Garrett, I am looking at a 8 unit now but we will see where that goes. According to the agent I referenced earlier there are some additional properties coming online shortly, so I hope to be looking at. few more in the next month.

Stephanie, I have worked with @Michael Magno as well and he is great to work with. I highly recommended him as well. 

If I was in your shoes @Brian Garrett, I would probably look to at out of market opportunities and partner with someone who knows a certain market. While I respect syndications and hard money lenders, like you I am trying to build a portfolio myself and I'd much rather have more control over the opportunity and actually purchasing the asset allows you do just that. I am looking at multifamily as well and it's difficult to find in my market (Charlotte NC) so I started looking back in Ohio specifically the Cleveland market( I grew up there). I recently purchased a duplex and now looking at 5 units up to 15 units and found a good broker that focuses only on multifamily.  There are some good deals up there you just have to find the right area to invest in.  Wishing you success as you search for more property. 

Congrats @Nicole (Dunlap) Pendergrass. Way to stay the course and keep grinding. Wishing you much future success!!! 

@Ari Hadar

My strategy is not that so I wouldn’t be able to speak to that. If you need a local realtor shoot me an inbox and I’ll give you a few names.

Thanks

@Zeke Liston

Thanks

@Nikki Closser

Thanks

My goals for 2021 are to purchase at least 6 doors minimum which can either be duplex's or small multi family in the Cleveland area. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Cleveland.

Purchase price: $130,000
Cash invested: $32,500

Duplex
Purchase price: $130,000
Cash invested: $32,500
Monthly cashflow: $543
Cash on Cash ROI 19.45%
Off market deal purchased.

What made you interested in investing in this type of deal?

I was interested in the deal because of the location and the numbers made financial sense which met my criteria.

How did you find this deal and how did you negotiate it?

The deal was found by realtor, where we were looking at a property on the MLS and the seller had a another property off market that he was thinking about selling. I analyzed both properties and decided to make an offer and go with the off market property.

How did you finance this deal?

Deal was financed used conventional financing

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with a real estate agent, property manager and lender all to make this deal happen. Inbox and connect with me if you'd like further details.

Congrats @Dave Poeppelmeier wishing you continued success.