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24 May 2024 | 42 replies
.$120,000 - $140,000 ARV'sTrying to pick up for $50,000 each.Decent condition and might need $20,000 cosmetic.Rent $1,500 - $1,700.Granted, I have the luxury of market knowledge, cash to close, remote workers and solid lists.Definitely not falling of tree's like 10+ years ago but still plenty of deals to be had.$1m in cash and someone that is willing to work the market hard for 2-3 years can retire off the income if investing in the Midwest.Just my opinion 🙏
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20 May 2024 | 1 reply
I want to begin property improvements before property falls apart.
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20 May 2024 | 2 replies
Figure out what it’s worth if the solar offers fall through or the government subsidies go away.
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21 May 2024 | 53 replies
It's no different than any other deal using other people's money (private money, hard money, etc) which I would imagine falls under this category you do not endorse.I've bought many things with credit (cards or loans, all the same to me) and flipped them for double or triple what they cost me.
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20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.
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20 May 2024 | 177 replies
You have to fight for every dollar because money doesn't fall from the sky.
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21 May 2024 | 48 replies
I would never put sec 8 in Chagrin Falls.
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21 May 2024 | 21 replies
The wheels usually fall off when one side is getting a disproportionate share.
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19 May 2024 | 6 replies
Keep an eye on rates as if rates fall you can renogotiate the rate if interest rates fall enough.
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20 May 2024 | 21 replies
I did not read the entire post -- sorry if it's a duplicate.call around to all local cabinet specialty shops -- high volume shops sometimes have orders that fall through and are custom made for someone else's space that can be a great deal -- and retrofit into the space in which you need it.hope this helpsalso if you install the prefab unfinished cabinets yourself you can do an average sized kitchen for 1200 + 200 for paint/stain done in 3-4 days max