- $500,000 Purchase Price- $0 Down Payment- 4% Interest- 30 Year Amoritzation- 10 Year Balloon- Monthly payment: $2,387Since this deal was so good, with no money down, my acquisitions manager is getting 20% equity in this property.

Many out-of-state investors have grown their portfolios in Cleveland using the BRRR strategy.

If they manage to pay everything and get caught up, then you can give them a 30-day notice of termination based on the multiple late payments.

You can look into getting a portfolio loan - but most lenders will require that each door has a value of atleast $75K. 

The whole situation seems strange since the owner let all three get this delinquent - and managed to place three non-paying tenants.If we're talking about the same one, it's price now is starting to get more attractive for a triplex in that area, even with the need to evict (of course that assumes the condition of the property itself isn't terrible).It will take time and money to get them out or get them to at least start paying again, but usually you get "deals" by agreeing to take on situations like this one.Personally, I'd advise a first time investor client against getting started with one like this and saving that for a few deals down the road.

- Manage the property ourselvesSo, a couple questions!

Our efficient project management ensured the renovations were completed on time and within budget.

Our efficient project management ensured the renovations were completed on time and within budget.

Our efficient project management ensured the renovations were completed on time and within budget.

Things to consider are self management, travel distance, property taxes, insurance, resource availability.