All Forum Posts by: Travis Gregory

Max Bacher at Frontline Home Inspectors. Very professional, friendly and will walk you through everything on the report. The reports are super thorough. We've used Max on 3 properties so far and can't recommend him enough. https://www.frontlineoh.com/

We're in South Euclid, the 44121 zip code. Granted we've only been in investing there for 6 months, we've seen no crime issues. It can vary block by block in many areas so make sure you have a good property manager or agent who can help you navigate the neighborhoods.

Hi Eric, we use Transnational Property Management based out of Cleveland Heights. 

I would also like to know more about off-market sales, what seller's get out of it and how one even goes about finding them. Is it generally the realtor who finds them or do you have to be pretty networked within the location to find an off market property? Does a new out of state buyer have any hopes of coming across something off market? Thanks!

When working with a mortgage broker on getting a loan, what's considered an acceptable amount of time for them to respond to questions? What about getting back to you regarding pre-approval? For example, let's say your broker just started the process of getting you pre-approved but they hit a snag, how long should it take them to get back to you to let you know they hit a snag? For me it seems like they should let you know within hours, at least send you a text. And if they take a day to respond is that a big red flag considering how fast buyers need to move on purchasing a good deal these days? Is that an unreal expectation?

@Johnny Wolff is the interest rate the same as using a local bank or credit union? Aside from being investors themselves ( which is important no doubt) what are the benefits of going with one of these references?

I've read that it's best to use a local lender if investing out of state, however if I am looking to invest in several different states, is it best to get pre-approval from a nationwide bank so that I can make an offer in any market? Once the offer is accepted, maybe then switch to the local lender?

@Joe Villeneuve Great question and it sounds like understanding this is crucial to finding the right investment. That said, I'm not totally following all of it but I'm going to digest it a bit more and keep learning. If you have any references to learn/understand this better I'd love a reference to them, thank you again.

In the current real estate climate (the last couple of months), how many listings out of 100 would you say are good deals, meet the 1% rule or provide 10%+ cash on cash return? I know this varies from market to market, your strategy, how much you put down, etc but I'm kind of looking for a ballpark figure. Is this way too hypothetical? 😅

Maybe to be more specific, how many buy and hold, single family home listings out of 100 will provide a 10% or more cash on cash return with 20% down on a property in or outside of a large city in the midwest?

Thank you all for the really thoughtful replies, super informative. Big takeaways:

1. Turns out, not everyone has money to invest on every good deal they find.

2. Alot of the time your investing strategy and your realtors strategy are different.

3. Potential very negative career and reputation repercussions for the agent.

4. If it's a really good deal, chances are you'll never even know about it.

Thanks all! ✌🏼