All Forum Posts by: Bob Prisco

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Chris Seveney everyone has their own comfort zone, I am  happy its working for you. I prefer rentals with mid teen ( and higher )  net caps , all the best and continued success . 

Hey all, I always as do my clients pay cash. We get a better deal and we then can refi  cash out , and buy more, rinse and repeat.  I hope everyone is doing well in their real estate business . 

Please share where and why you are investing for cash flow and why , 

2 2brs 6 1 brs, I used 600 each.

Rent 57K 

Ins 3k

Pm 4k

Water 4k

Taxes 4k

V/M 5K

MISL 2K garbage, snow, lawn, etc.

NET 35K 17% % @210k includes ALL rehab, passing all inspections ,placing tenants and PM,

Amazon is opening a new distribution center, not far from this area. 

Info on Waterloo, http://www.cleveland.com/entertainment/index.ssf/2016/03/collinwoods_waterloo_district.html 

I took advantage of the political climate and purchased the domain name. Have a look, a lot of info. 

https://ibuy********houses.com/ 

I have many investors from Ca buying rentals in the Cleveland markets,  about 200 so far , net caps from 11% - 16% . I have 50 more flying in to see me and my team next weekend, we do this 3 x a year. . I am here to help 

Hi, we can always you more SF , n MF in Cleveland and the burbs, 

Cleveland as been IMO the best rental market for the last 8 years but nobody was paying attention , Also the returns are much higher then Forbes would have you believe  ,, Cleveland ranked #1 rental market in 2018 by Forbes https://www.forbes.com/sites/ellenparis/2017/12/26/2018s-hot-rental-property-markets-in-cold-climates-for-investment-consideration-in-q1/#6c1dcddd5811

Rule is NOT location location location, its Price , price price, to a certain degree. You do not want to buy in a heavy crime area. People told us we were crazy buying in certain areas of Cleveland 8 years ago. Well we have received about 45% net caps for years,  so who is crazy.  If you goal is cash flow, then go for the lower end areas, again not to low, and reap the rewards. If your goal is flipping do to appreciation , then sure, focus on the better areas, all the best to everyone . 

Hey all, We used to buy at 30k and under in the Cleveland markets but prices have increased ( and going higher ) . However the returns are still very good. Typical rent is 950 for a 3 br and 1100 for a 4 br, with an all in price of about 40k, so still heck of a return.