All Forum Posts by: Vince Lucas

Contract for sale on 2 family or large single family. Property is in need of full rehab.

@Grant Rothenburger I completely agree with networking and looking for partnerships. Of course your not going to charge your partner that you are doing a deal with. The services I was referring to were strictly consulting on a specific deal (ARV, as is, rents, etc) or a general over view of a particular city (trends, etc) based on facts and local perspective being a realtor, appraiser and local investor in the Cleveland market. I was not looking for partnerships or anything like not. I agree with you regarding these so called "mentors" not really having your best interest in mind just want to use you to get more deals.

@Caleb Heimsoth If you are able to get everything for free then I dont see how I can be of service to you. Just be careful with their "free" information (you know what they say, you get what you pay for). If you decide that you think I could add value with my experience as an agent, appraiser doing over 500 appraisals per year and active investor, feel free to reach out. All the best!

@Laurence K. Congratulations on jumping in and becoming an active investor in the Northeast Ohio market. There are obviously a lot of factors that go into having a property perform up to its potential with property management company being the biggest. I am glad to hear you did your research (which everyone should obviously do before buying, even if they are going to use consulting services). My thing is that no matter how much research you do from a far, there is nothing  you can do to get the knowledge and feel from a local expert. Even if you think you know everything (God help you if you do) there is nothing wrong with getting it confirmed and therefore you can move forward without any doubts. Where are you properties located in the Cleveland market (west or east or both)? Glad to hear you are having success! 

@Ryan Evans I am sure many people provide their opinions about different aspects of investing but how many are actual experts at what they do? I understand the whole boots on the ground thing (I have done that as well) but I am talking about providing actual values/comps, different trends that are going on and other data that out of state investors (and to be honest many local guys do not know or are able to find) do not fully understand or have access to. 

Nice to hear you made the commitment and moved to the cleveland area (Welcome!). 

Yes, that is a problem, people telling others what they want to hear because they are selling them something. Best to have a third disinterested party give you the facts and let you make the decision that best fits what the individual investor is looking to do. Could easily save you thousands and prevent you from into a bad deal that costs you time and money.

@Grant Rothenburger If you can find a very experienced investor who is willing to give you their time for free, of course that is a good option. I understand that you can find partnerships and not have to pay a small upfront fee but you give up a bigger piece on the end. There is nothing wrong with partnerships but I feel that you need to be careful just partnering with people and it takes time to know your partner fully and by the time you do that time is long gone. Also, I have seen a lot of investors and agent say a lot of things and unable to make their statements/opinions with actual concrete information, not to mention the comps that some Realtors have given me when I am appraising for the purchase of their listings. Sometimes its nice to have a professional give you advise in their specific niche.

@Tom Ott I am an active investor (mostly flipper) in the Cleveland market. I am also an agent and appraiser. I offer consulting services to out of state investors looking to invest in the Cleveland market but was just wondering if there are others who offer these kinds of consulting services (not agents looking to sell them but strictly advise them) in the Cleveland area or through the US? 

I was wondering if any oos/out of state investors hire a real estate expert/consultant in the area they are looking to investor or do they spend months trying to learn the market by themselves or do they work with a real estate agent that might be just trying to sell them a property? Seems to me that a small amount of money up front could save $1,000s and make sure they know the values for that asset type in the area they want to invest in (A,B,C or D areas). I have not seen many people offer this service (at least in the cleveland area),

Contract for sale: Reduced to $34,900 for a quick sale
11*** Kirton Ave Cleveand, OH 44135
2 Bedroom, 1 Bathroom Ranch
Current tenant is paying $700/month (Market rent is $750-800/month).
Recent updates throughout within the past 6 years.

Call, text or email Vince for more information – 216-672-6119 or [email protected]
*wholesale deal: presenter is a licensed realtor in the state of Ohio and is proffering rights to purchase agreement via assignment of contract. Presenter is in no way acting as an agent or fiduciary for the current owner or end purchaser of this property. Buyer’s due diligence is assumed.
*Buyer is responsible for sellers closing costs which include all title company fees and title insurance

Hi Albert,

I think the confusion between South Euclid and Cleveland Heights is that this property is actually located in South Euclid but the school district is Cleveland Heights/University Heights. I agree with Bob. It is best to get a local professional to help you rather than doing your own "research". Banks dont have out of state appraisers appraising in other cities that they are not experts in, why would you want to totally research an area without having local knowledge (I know because I am an appraiser). I work with oos investors all the time that want to tell me about the market that I have lived in my entire life an perform over 500 appraisals per year in.