Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
If you ever wondered what it's REALLY like to own these $10,000 houses that you can find in Cleveland, Detroit, Baltimore and other similar areas WATCH THIS VIDEO.
Show notes:
In this episode of The Investment Properties For Sale Show we take Real Estate Investors on a tour of a $10,000 house in one of Cleveland, Ohio's roughest neighborhoods. The purpose of this tour is to show Real Estate Investors the realities of what it's like to own rental properties like this in these kinds of neighborhoods. We break down who should buy highly distressed high risk properties like this one, as well as who should not buy highly distressed high risk properties like this one. In addition, we also take Real Estate Investors on a tour of a turnkey single family rental property in Garfield Heights, Ohio that is a much more stable investment opportunity for beginner investors who are looking for passive cash flow. On top of the tours we also discuss the release of the upcoming documentary about Clayton Morris and Bert Whalen's investment program with Real Estate Investors who have alleged that investing with Clayton Morris and Bert Whalen was nothing more than a real estate ponzi scheme.
Awesome video James. You did a great job highlighting the realities of a cheap rental. The dead cat a new one for me.. Looks like Garfield had definitely been there awhile
Awesome video James. You did a great job highlighting the realities of a cheap rental. The dead cat a new one for me.. Looks like Garfield had definitely been there awhile
Awesome video James. You did a great job highlighting the realities of a cheap rental. The dead cat a new one for me.. Looks like Garfield had definitely been there awhile
Yea, bummer for the cat. Glad you enjoyed the video. What type of properties are you investing in?
Those types of properties are available in high volume where I am but I personally do not invest into them. Currently, I don't look at or consider any properties that wont appraise for more than 150k. I also have specific areas within the city I'm willing to invest my hard-earned money. Right now I don't have (or even bothered to look for) the resources to pursue that type of play. My full-time job has me reliant on a PM to take care of business when I am out of the area, often for months at a time. I'm becoming more and more passionate about real estate but currently it is just a side hustle. I won't look to "experiment" with these until I'm more experienced and closer to going full-time RE
Those types of properties are available in high volume where I am but I personally do not invest into them. Currently, I don't look at or consider any properties that wont appraise for more than 150k. I also have specific areas within the city I'm willing to invest my hard-earned money. Right now I don't have (or even bothered to look for) the resources to pursue that type of play. My full-time job has me reliant on a PM to take care of business when I am out of the area, often for months at a time. I'm becoming more and more passionate about real estate but currently it is just a side hustle. I won't look to "experiment" with these until I'm more experienced and closer to going full-time RE
Sounds like a great strategy Solomon. No reason to take on additional risk if what you're currently doing is working. Well done.