All Forum Posts by: Bob Prisco

@Lane Edwards again, where are you looking to invest ,  what net caps are you seeking,  are you cash and what size investment are you interested in ? 

well I am not aware of any investor that would sell because they are doing an eviction, its part of the business. and its only 500 max,. or some code violation, which the PM co is supposed to take care of  and should not be a big one as the property in most areas have POS that must be satisfied ,   But sure send me over some . I will have my guys go through them to see if any benefit,  Thanks 

BTW, You are on the west coast, how many do you own / flipped , in Cleveland markets ? 

@Kristopher Stovall Cleveland is the Best overall rental market in America, 2 years in a row ranked by Forbes, Really the last 10 years, but they were not paying attention. With Amazon taking the old Euclid mall, about 800k sq ft, and now have a new  building about  1 million sq ft  20 min away in the heart of everything , seem as though pricing is going even higher.   All the best, 

@Lane Kawaoka where are you looking to invest , are you cash and what size investment are you interested in ? 

@Jerry Holt NOT A CLUE what you are trying to say/ offer. Just because an owner has a violation how does this benefit a buyer/ me ?  So the owner did not cut their grass, or trim a bush, or maybe has a cement block not level, so what ? What am I missing ?  If there are repairs need the PM co will ( they better ) notify the owner then make the repairs. 

So a tenant is being evicted, why would an owner want to sell because they have  an eviction that takes about 45 days and cost under 500  ? 

@Houston Garcia as mentioned best cash offer. Are you familiar with the cleveland markets ?  I have many clients from your area. 

@Dan Guerin no you are not doing the math correct THIS is correct , 

Rent   36k 

Taxes  3k

INS   2k

water ? assume 5k 

vacancy 3k 10% 

Maintenance 3k 10% 

garabage 1500ish 

grass snow, misl 3k

PM 3K

NET 13KISH ABOUT 12 % NET  ACTUALLY not even as you said units need to be turned over so assume, 3k per unit, x 6 18k, bringing your PP up to about 120k 

Excellent condition needs nothing. Fully rented with the exception of 1 SF, NOTHING for the new owner to do. Gross of about 138k, with a net of about 85k, best cash offer.  Up and coming location, 5 minutes from Edwater Park,  All cosmetic complete, all mechanical excellent, roof excellent . 100% hands off. 

https://www.google.com/maps/place/3206+W+100th+St,+Cleveland,+OH+44111/@41.4664564,-81.7532569,3a,75y,241.53h,90.48t/data=!3m6!1e1!3m4!1sWmBVMC2jQQostSmy6rrIcQ!2e0!7i13312!8i6656!4m5!3m4!1s0x8830f1df0d3aa177:0x8fc29fab020c5511!8m2!3d41.4662549!4d-81.75353 

@Tiffany Bairos go to your local REIA meeting, talk with investors that are actually doing deals. Speak with attorneys go to the auctions, network. Realtors will simply show you things listed and then tell you " highest and best " needed. I have done 100s and 100s of deals in the Cleveland markets and never use a realtor good luck ,

@Quintin Grant what is it you are trying to do ?