All Forum Posts by: Thomas Wang

MetroHealth in Cleveland is investing about $1B in next few years. I would love to hear about your read if you already bought or thinking about buying rental that area.

If anyone like to read, google metrohealth project cleveland. Thanks

Is $50 late fee per day legal in Colorado? I bought a rental that came with a lease that says $50 late fee per day if rent is not received after 3-day from the due date. I need to serve a 10-day notice and try to figure out how much late fee it include along the unpaid rent. This tenant now late for third time in 6 months and feel that I need to start enforcing the terms of the rental contact. Thanks

@James Wise

Would you say Metro Health area is C class? Your map said some are D and some area better. Thanks

What is your phone?

@Ralph R. Would like to sell your duplex to me?

@Ravi Singh

I went through this step about two months ago and bought 4-unit by Metro Health, which is spending close $1B in next few years. Let me know if you want Chat.

@My Nguyen

Sounds great. Let me know if you like to chat sometime.

@Alan Grobmeier

Yes. $100 per door is little tight. However, for about $10k investment, I have about 70k equity and a chance to raise the rent. Some of the tenants have been there for 10-15 years and average 3 bedroom apartment rents about $850 per month instead of current rent of $680.

@Alan Grobmeier

I am able to get 70% of appraised value back as I need to leave 30% as down payment. Tax, and insurance are high for this and I am being conservative for $400 cash flow, $100 per door.

@Renee Ren

I just bought a 4-unit in Cleveland. Here are my numbers:

Asking: $265k

Paid: $175k

Appraised: $245

Rents: 2700 k per month

I used my HELOC to buy this and will do cash out refinance soon. By then, I will be all-in with about $10k with $400 cash flow monthly. I hired a property management company as I live in Denver. Happy chat.