All Forum Posts by: Bob Stevens

Cleveland is and has been the best overall rental market for 10 or so years. All in 115kish with 1500- 1700 rent, All in duplex 135kihs, rents 2k . I got another yesterday all in 80k, rent will be , 1600,

0 Votes

Quote from @Harley Kendall:

Hello! I have a few questions for y’all.

1. Is it worth it to get your real estate license if your real estate strategy is to house flip?

2. Are there any drawbacks to getting your license that hinder any part of real estate investing?

From experience, what are the pros and cons of getting your license. Thank you all!

No zero need waste of time and money

1 Vote

Quote from @Abass Aden:

Hi everyone! I’m Abass, and I’m excited to join this community. I’m based in Ohio and recently started learning about real estate wholesaling and flipping houses. I actually found out about this forum through Brandon Turner’s book, Investing in Real Estate with No (and Low) Money Down. I’m here to connect, learn from experienced investors, and hopefully share some insights as I gain experience. Looking forward to getting to know everyone and contributing where I can!

Connect with @Remington Lyman in Columbus

BTW STOP reading books, there not reality

2 Votes

Columbus, Ohio

Quote from @Shayan Sameer:

Hello Everyone,

I have a few questions for all the fix/flip investors. I did 2 fix flips last year. One, I made a profit; other one, I kinda even out. I learned a lot from both projects and hope to learn more. I wanted to know what are your thoughts on the 70% rule. Do you guys still apply that rule? For all the deals here in South Florida, I'm not able to do 70%, and it seems like the profit margin is really small. What dollar amount or percentage do you guys usually look for in fix/flip properties?

My 70 % rule...

ARVx70% - rehab cost = purchase price.

2nd question.... I know with a hard money lender, you lost good amount of profit. Do you guys use hard money lender for a rehab or use your own cash?

I have NEVER used a rule. I as long as I have not less than 35- 45% profit I'm good.

2 Votes

Fort Lauderdale, Florida

I will accept nothing less than a bank statement showing the funds. NOT as BS HM letter, like the one you mentioned. or bank preapproval. I only deal with cash buyers, AS IS closing,

2 Votes

Quote from @Emory Clayton:

What is your process for screening pets? Successes / failures? This is my first go at pet screening. I'm using a service called 'PetScreening' where the tenant fills out an application on their pet (birth date, shots, bite history, etc) and based on the answers given a 'fido score' is given to help the Landlord figure out the risk associated with the pet and the reasons why the score was given. I've run into my first issue, in that, the potential tenant has a mixed breed, no surprise there. The issue stems from the tenant having to guess/figure out what breed their dog is if the dog is mixed. If the pet is not a full breed, the screening process ask what the primary/dominate breed is followed what is the secondary breed. I don't have any restrictions on pets with the exception of 2 things: no dogs under the age of 1, and breeds listed on my insurance policy that are not accepted.

NEVER in 10 years more than 1 thousand move in and outs have I even heard of this,

0 Votes

Montgomery, Alabama

Quote from @Erick Acosta:

Quote from @Bob Stevens:

Quote from @Erick Acosta:

Quote from @Bob Stevens:

Quote from @Mavely Pazmino:

Quote from @Rhianna Cultrona:

Quote from @Bob Stevens:

Quote from @Rhianna Cultrona:

Hi all! We are closing on a property in Akron. It is currently section 8 with a tenant in place. We have other properties that are not section 8 so we are familiar with the area. Our current PM isn’t taking new properties so we are thinking we might try to manage ourselves. This is risky since we are out of state so I am looking for pointers on how the transition works on a section 8 and really anything else you think could help my research. I was on the AMHA website and didn’t really find what I was looking for. TIA

We have about 30 props in Akron, I would never in a million years even think about self-managing, why? Its like 100 bux a month, meaningless fee for them to handle it all

Good luck

That was a momentary lapse in judgement lol. I recovered and hired a PM who specializes in S8

Hi Rhianna, interested in connecting with you about the Akron Section 8 Property Manager. Im currently looking to buy in Akron as well, and will eventually need a Sec 8 Property Manager.

I know most of them, happy to recommend.

Hey Bob, can you send any recommendations for PM in akron area ?

How many do you have ? Yes of course,

I have 2 sfh.

Ok cool, if you would like help reach out,

0 Votes

Akron, Ohio

Quote from @Shaheen Ahmed:

Quote from @Account Closed:

Hi, check out Ohio's real estate market and if you have any questions please feel free to reach out. Best of luck!

Been looking into Ohio but the property taxes for rentals are through the roof.

Not sure what you're looking at and where but we avg, 1500- 2500 . There is a reason investor from around the world have been and are still buying there for 10 years.

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Quote from @Erick Acosta:

Quote from @Bob Stevens:

Quote from @Mavely Pazmino:

Quote from @Rhianna Cultrona:

Quote from @Bob Stevens:

Quote from @Rhianna Cultrona:

We have about 30 props in Akron, I would never in a million years even think about self-managing, why? Its like 100 bux a month, meaningless fee for them to handle it all

Good luck

That was a momentary lapse in judgement lol. I recovered and hired a PM who specializes in S8

Hi Rhianna, interested in connecting with you about the Akron Section 8 Property Manager. Im currently looking to buy in Akron as well, and will eventually need a Sec 8 Property Manager.

I know most of them, happy to recommend.

Hey Bob, can you send any recommendations for PM in akron area ?

How many do you have ? Yes of course,

0 Votes

Akron, Ohio

All Forum Posts by: Bob Stevens

Bob Stevens has started 87 posts and replied 6296 times.

Post: Best Section 8 Markets

Post: Best Section 8 Markets

Post: Should I get my license?

Post: New from Columbus, Ohio

Post: Fix n Flip 70% rule

Post: What do you qualify as a proof of funds?

Post: How have you done pet screening?

Post: Managing our first Section 8

Post: What cities are still great to invest in

Post: Managing our first Section 8