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Updated over 1 year ago on . Most recent reply

User Stats

26
Posts
19
Votes
Michael Orakpo
  • Rental Property Investor
  • Cleveland, OH
19
Votes |
26
Posts

Analyzing a Duplex Flip in Cleveland

Michael Orakpo
  • Rental Property Investor
  • Cleveland, OH
Posted

Wassup BP,

So I’m fairly New in the Cleveland Market I am a Out of State Investor.

I have solidified what appears to be a solid team.

-My Investor Friendly Agent

-My GC, Interviewed a few but was recommended to him and he’s been very helpful and price is competitive

Home: Duplex 3100 square foot, 2/1 BR in each

Value Add: Add 1 BR plus cosmetic upgrades throughout Kitchen, floors, New roof installed 7 years ago, New Door

Home price: 93k -submitted 90k offer

Repair Costs: 25-30k

ARV:195k

Down: 19,500

Hard money Loan at 12% normal terms

Goal is to Reno & sell within 6 months.

How do you all think the numbers look on this Deal? The property is in a B type area on West side and not too far from Hospitals/Zoo etc.

Comps come back in the low 200s. I think it’s worth the squeeze.

Most Popular Reply

User Stats

26
Posts
19
Votes
Michael Orakpo
  • Rental Property Investor
  • Cleveland, OH
19
Votes |
26
Posts
Michael Orakpo
  • Rental Property Investor
  • Cleveland, OH
Replied

@Timur Salikov

That’s just for the kitchen. The Home itself Wood floors are in pretty good Condition.

Tax is something that could potentially make me want to BRRRR the deal Vs sell the home.

I’m still trying to make that decision.

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