The aspect of flips outside of the tax code is getting the deal, finding capital is easy with partners etc...

Hi Everyone,My wife and I are looking to buy our first MFH in the Cleveland area, and I’m interested in knowing if anyone has had to deal with squatters on their properties.

How did you finance this deal?

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

I think it depends heavily on the deal you get and what part of the cities you invest in, but I do think when you average it, it can seem pretty low. 

To me, Louisville seems like an investor can get a better deal for their money right now in more areas of town, which is what makes me interested there.

Patrick,When you deal with a smaller lender or a broker they have tough guide lines and something called "overlays".

When they cannot remove the tenants they can’t fix the units.It is also an overreach, what the city could start with is helping the landlords deal with their tenants, perhaps starting some sort of arbitration system.

True private money is going to cost 10-12% plus deal equity which often makes the true percentage 20-22% on your money vs alternative lending which will be around 12-14%.Here to chat if you want some help comping a deal and putting one together.