All Forum Posts by: Bob Prisco

@Courtney M. this is an opened ended question. It all depends on the PP and # of units..  You need to make your decision  based on the % net per year you want,  not on $100 per door. Me personally ,  I will only do a deal with not less then 15% ( worst case )  net per year, most are 20% ,  good luck and all the best. 

@Amy Hu none its all BS, we have done about 100, the Land Bank is extremely corrupt. Why are most of the properties going to the same people, hmmm ? How is it the company that " stole " my property opened the LLC for it BEFORE a decision was made for them to get it ? CORRUPTION. !! Just google the Cleveland land bank you will find tons of suspicious behavior.

Well I put my  money where my mouth is. I DO buy them, stay tuned to see how it looks in a couple weeks, We side Cleveland, ..

@Aaron Hall, its all about the team working for you and protecting you . If you are going to look in the Cleveland markets do not waste your time with realtors, all they will do is show you props on MLS.. Also if you are not a cash buyer it will be difficult to find a great deal, sure an OK one but not great. If you have the right team, 11- 15% NET caps, or better is attainable , I wish you luck.

@Ted Strzelecki all do respect poor advice. . Sit around and wait for prices to be just right, analysis paralysis. Who cares if you pay up or down 5- 10% the goal is cash flow.  , There are plenty of deals out there IF you have the nohow. I buy/sell all the time, 11- 15% net caps. I purchased a 21 unit a couple weeks ago, all in 375k, net income 80k, 20% + .  3 unit with more than 24% % net cap, and a 4 unit with about 22% % net ,   Its all about the team . good luck 

@Aaron Hall there are plenty of double digit NET caps out there if you know where to look, Check out the Cleveland markets.  10% ++ are there if you  have the nohow , and most important have the right team surrounding / protecting you .  good luck 

@Courtney M. have a look at the Ohio markets, great numbers, just about 2% ratio. avg PP 60K, rent 1k,  Most important ingredient, is the team around you, Good luck , 

If you are buying for cash flow, it really does not matter if you pay up or down 5% -10 % . If the market goes down you still have cash flow. To many think short term, I like the 5- 8 year window. Refi cash out,  buy another ,, " rinse and repeat " , all the best to everyone, 

@Gino Barbaro   I buy n sell ( keep some ) them weekly . All the best 

@Gino Barbaro 15% net caps on a SF, DUPLEX, OR TRIPLEX is still 15% , so, I buy them all,  good luck