Crystal Clear Criteria (hopefully) for Q2 2022 Purchase:Small Multifamily Home<$100KNeeding <$10K of rehabAble to get conventional mortgage, $20K down (20%)West Cleveland Area (we have seen many listings that look to close on our criteria in West Blvd, Detroit Shoreway, Cudell, Edgewater, Old Brooklyn, and Ohio City, but we are absolutely open to local agent/other investor expertise here to point us to an appropriate area) or other recommended Cleveland Metro Area towns.Looking forward to joining this awesome Cleveland REI community and starting to learn and give back!

None of us have a crystal ball but your strategy works regardless of where of the market goes and has a downside hedge with it.

@Crystal Smith

TIR is crystal clear on things like you can't charge more than 1.5 months security for any reason, why would they be vague about this if there was a specific code?

Crystal Smith wow.

@Vincent Parello That's interesting, because my girlfriend lives right off of 30 in Joliet (Crystal lawns neighborhood) and her house has well water.

No crystal ball; just the perception that the white collar industries that drive demand for housing in our upscale areas (our niche) will continue to do well and that the desire for young families to move to the suburbs will remain a strong element of demand.   

While no one holds a crystal ball, there are literally dozens of articles citing the Austin market growth and there seems to be a fair degree of confidence among those research reports for that trend to continue.  

I don’t think his crystal ball is telling him that he just needs to carry the loss across all these properties for 9 months - he’ll take what he can now, which suddenly includes long term tenants, furnished or otherwise.

If you can be crystal clear on that, and see what you might offer that the mentor doesn't have, it may be the beginning of a fruitful relationship.