All Forum Posts by: Michael Magno

I would look on Facebook, a lot of groups local to me in Ohio use Facebook to organize their meet-ups.

Welcome to BP. This is best place to be to learn from others.  I would check out the bookstore right here on the BP website. Tons of books available to help you! Best of luck to you on your journey! 

Sent you a message. 

Shaker Heights does not allow for rental's of less than 30 days.  It's a city ordinance.  

https://shakeronline.com/314/L...

Welcome to BP.  You're certainly in the best place to learn and grow your RE investments.

Sam I am biased, as I use Nathan above.  I have heard decent things about Sandstone.  I would recommend you have a conversation with Nathan before making a decision. Good luck! 

Welcome to BP.  This is the best place to find all the information you need.  I would check out the "find agent tool" and find and agent in the market you desire, and set up a quick call to discuss your goals and what you are looking for.  They will be able to help you target the areas in that market to help you be successful.  Cheers! 

My attorney does it for me for around $350.  Includes all the filing fees and EIN registration.  PM for details. Can't post promotional type stuff in the forums. 

Investment Info:

Single-family residence fix & flip investment in Akron.

Purchase price: $57,500
Cash invested: $26,000

Great single family fix and flip. Getting listed very soon! Should be a pretax profit of around $30k

What made you interested in investing in this type of deal?

I like entry level fix and flip projects for first time buyer price ranges.

How did you find this deal and how did you negotiate it?

I found this right on the MLS.

How did you finance this deal?

CASH CASH CASH

How did you add value to the deal?

We gutted the kitchen, and bathroom. Converted it back to 3 bedrooms from 2 bedrooms. Partially finished the basement.

Lessons learned? Challenges?

Covid really slowed things down this year.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My GC is a stud! Even though it took much longer than anticipated.

I would leave the 2 tenants for now paying the $630, as it sounds much closer to market rent and concentrate on getting the way under market tenants up some, or out and make the necessary repairs to push them to market rent.  Once they are at market rent, you can revisit with the tenants you left alone (or raise it slightly).