All Forum Posts by: Bharath Veeramachaneni

@Prasad Raju I am not familiar with the Cleveland market but i did see this article being referenced in other forum posts while looking at cleveland market. Theres also a sub forum for cleveland market, posting this question there might help too.

https://www.biggerpockets.com/member-blogs/4704/42419-cleveland-neighborhood-grades

Bharath

1. If your current area is very hot as you mentioned, maybe look at other areas closeby or out of state where the market meets all your criteria. Since its your first deal you would want it to be perfect or atleast make you a small profit (money or experience wise).  If you rush into a deal in frustration just to get a deal done you might make a big loss and stop/hurt your RE career in the very beginning.

2. On the bright side, you almost had a deal which means that for the next time you know what extra steps you need to make sure to close quickly. You just need to persevere with what you have been doing until another deal comes along that ticks all your criteria.

Bharath

Hi Cynthia,

I am still in the reading/listening to podcast stage of my Real estate career but i am going to pitch in here with my opinion and see how close it is to other experienced investors that comment later.

Your management fee expenses are super low at 3%. i have seen them being quoted from 8%-12% on all other deals that i learn from in this forum and in general 8-10% seems to be the standard. At 8% min thats another 40$+ taken from your cash flow.

750$ per month for a 3 bedroom 2 bath seems low to me. If there is potential to increase rent to atleast 900-1000$ per month then this deal might make sense for me but right now i dont think this is worth it.

Bharath

@Tobias Stoll Could you explain more on what situations you faced ?

Bharath