All Forum Posts by: Bob Prisco

@Damian Ramirez big mistake, you can get much higher net caps for far less money with similar appreciation In the surrounding cities ,GH, MH WH Euclid, Lee Harvard and west side .  I have done about 500 deals out there and never have nor would buy in SH,  

All the best 

PS if you need PM feel free to reach out, 

@James G. you are much to involved. You should not be dealing with anything regarding the property, just focus on your career . Simply connect with those that have experience in the Cleveland markets and let them handle all. 

Good luck 

@Tony Kim well at least you got a few, good for you !! Well its not to high we still provide 10- 14% net caps, all in pricing from mid to high 50s - 75k SF and this is with all cash purchases , so higher COC when financed

@Dan H. well is seems you are lashing out at me and insinuating I am a snake oil salesmen in a public forum without all the facts,  not cool at all.  I have been doing business in the Cleveland markets for about 10 years,  last 7 or so I have flipped about 500 properties,  zero marketing, all referrals for a reason  ( about 250 or so to CA investors ) . We used to provide 20% +++ net caps now about 10- 14% net as pricing has basically doubled. Now granted buying a property for all in 35kish 5 years or so ago with about 15% per year net cap,  and now having a value of 60- 70 80k, is not as exciting as buying for 300k and now worth , 600, 700k .  Also 5, 6  years ago you could buy as many MF, 4- 30 units for 10k per unit or less  , now try finding one less then 30k per unit, not going to happen ,so still great returns.  All my personals avg 25% ++ NET per year. It takes a lot more volume to " get rich" in Cleveland then 90% of my clients in Silicon Valley that paid 300k - 500k 10-, 15 years ago and now can sell for 1.5 - 2 mill, just crazy . 

All the best 

@Dave E. great job, keep it going !! Do not get discouraged. BP is the best networking / learning site I have found. There seems to be more real " players " here then on all the others and many are wiling to offer great advice . 

All the best , 

@Marco Morkous have not read their books or anyone's books or tapes. Learned as I went..... Keep it simple. Buy it fi it flip it or keep it for a rental. Just run the numbers As long as I am at 20% net cap I keep them,,,,  

@Dave E. what exactly were you hoping to gain ? Do you have cash to invest? If not why are you on  here ( JUST ASKING not being combative )?  . Did you think watching some videos was going to make you rich ? Did you actually connect with anyone doing deals, learn from that person, and actually buy a property or just research more and go back on videos ? I am not picking on you , this response is for everyone that is disappointed .  So ask yourself, do you really want to own rentals, or are you just trying to learn and research ? Again its not rocket science folks .

I wish everyone health and happiness 

@Peter Tverdov I can only express my "issue" . I am an expert having done 100s and 100s and 100s of deals, for about 30 mill. I am contact weekly " Bob you seem to know the Cleveland market I would like to get in " Well when I provide exactly ( in most cases more ROI then they expected ) they just disappear. All tire kickers. When I ask what happened, well we are researching, and analyzing I plan to go visit over the next 6 months . I simple move on. You can simply not determine where or what price to pay using google. I can you cant ( meaning newbies ) .I feel many just go on these post to appease their own ego. Look at me I am a real estate investor .No you are not, you are just looking . This is not rocket science, so many make it more complicated then it really is . If you are working with someone that has does deals weekly , has PM in place, paid a fair price, the return in what you expect, what they heck is the problem, just do it.

All the best to everyone 
 

@Account Closed I should have not made a blanket statement, MOST do not care about a garden. I have been doing business in the Cleveland markets for about 10 years, ( GH MH, CH WH Lee Harvard, Euclid, West side North of Storer, )  more then 500 deals for about 32 million. I know every street, and exactly where to buy or not to buy. I work very  closely with  PM , and have about 20 contractors, so I do have a lot of experience :) 

PS, if you think sec 8 and EDEN tenants care about a garden, well ....

@Daniel Volk. All due respect it’s obvious you have no experience in Cleveland. Those people couldn’t  care less about a garden.