All Forum Posts by: Vince Lucas

@Isaac Geller Welcome to BP! There is a wealth of information on here. It is possible to start investing in the cleveland market with about 60k. With the said you will be limited in your search (you might want to see about use more funds. It is never a good idea to invest on a budget).  Also, more important than the money is the knowledge.  Although, The Ultimate Guide to Grading Cleveland Neighborhoods gives a glance at the cleveland market it obviously does not go into great detail and does need someone to interpret more information for you. It can be tough trying to find boots on the ground that have your interest in mind and not try and sell you on every deal or one that they might represent. It is best to have an impartial consultant in the area you are looking to invest. Wish you the best and hope you find what you are looking for. 

@Kevin Lutz I am currently working with a couple out of town investors. I am working on a flip right now and moving into rentals shortly. Most important is to have trust worthy boots on the ground. It is also important to education yourself on the market and understand how to analyze deals for yourself. Let me know if you'd like to hear more about it or if you have interest in the Cleveland market.

Welcome @Nicholaus Ciulla

@Christopher Blanco I think @Mike Flora put it well. I would like to add that I do not believe your question should be how you can go from 3-4 deals a year to 3-4 deals a month right now but should be how you can go from losing money or make a thin profit to being all in at 70% ARV. I would not suggest borrowing money at this point as it would just complicate things and eat away of your around thin spread. I am a beginner flipper as well and have had many growing pain as well. Sometimes it is better to start slower and get things correct and then accelerate. Believe me I would love to do more deals as well and in the beginning it does take a little longer than more experienced investors. Hit me up if you would like to talk further since we are in the same market. All the best!

@Hamid Taba

@Tom Ott and @Timothy Murphy III made good points. I think the high side rents are a little higher, maybe $1300-1400 ($1,200 probably average). Taxes in lyndhurst are higher than other cities and will cut into your cash flow. I think a decent ROI in lyndhurst is probably 8%, but there are others on here that know better. Feel free to reach out if you have any other questions.

Hi,

I am looking for a vacation rental in Virginia Beach, VA for 1 week, the weekend of 8/19/17. I need 5/6+ bedrooms and needs to sleep 15+ within walking distance to the beach. If anyone owns or knows anyone in that area, I would appreciate some information.

Thank You

@Nicholas Abramo There are banks that will do a cash out refi in a llc but not aware of one that will do sub 50k. 

Thanks @Steven Hamilton II

@Matt Motil It is an established LLC 1 year+ with history.