All Forum Posts by: Daniel Haberkost

@Account Closed Ah okay I didn't know that but it's all good I'm not bothered by that type of thing at all. 

It's hard to imagine the mental state you'd have to be in to take time out of your day to send a message like that to someone who sent you a postcard. Frankly, I feel bad for the guy. 

 Last week I had someone go out of their way to message me and tell me to "go die in a fire" because they didn't like the letter I sent asking to buy their house lol. This is why having a sales background is useful because rejection doesn't bother me anymore, this type of thing makes me laugh more than anything. 

Don't take anything personally, when people say things like that it's far more reflective of their issues than yours. 

@Ivan Chavez I second what @Derek Harris said, we need more info to give you any sort of valuable advice. What are your goals? Why do you want to invest in real estate in the first place?

 Hi Joe, I don't own any properties in rougher neighborhoods but I have managed them in the past for others. My experience managing them is exactly why I don't own any (even though numbers look great on paper). 

Sure, some people make a killing off of low-end rentals but it is extremely time intensive and you would need to have your systems/processes firmly in place. Being that this is your first investment property it would likely not be a good place to start (unless you have some prior experience in management). 

Also, how long has the property been listed for? It's a challenge to find a turn-key property on the MLS that cash flows.

 Hi Ashley, have you tried calling any manufacturers in your area to get an idea of the price of construction/delivery/etc? That would be the first step to get an idea of what is viable. 

@Michael Frias Hey Mike, this is completely dependent on the location/zoning/availability of utilities/etc. We'd need quite a bit more detail in order to give you any helpful feedback!

@Javier Rosales do you have someone you trust in Akron who can do due diligence for you? There are some areas in Akron that are fine and some that are not (the price makes me think this is in the “not” category).

Regardless of this rental, if you’re going to invest out of state you need a trusted expert on the ground to help you throughout the process.

@David Bourque what’s your living situation like? Can you house hack? If so, it’s 100% viable to eliminate your monthly housing expense and even get some cash flow (plus the long term amortization/appreciation) if you do it right.

BRRRRing is an option but it’s not easy to find a deal priced low enough where it’s worth it, takes a lot of effort.

@Justin A. I strongly agree with the previous posts, house hack. Flipping is much more challenging and requires far more time and effort. Plus, you say you make a good income so you aren’t hurting for quick cash.

If you can find a 2-4 unit that’s great but a single family with the right layout works just as well. If you take the time to screen your tenants and make your expectations clear house hacking can be very financially liberating (and easy!).

@Javier Rosales where in OH are you looking ? I’m from Cleveland and you can find plenty of houses for that price in East CLE. But you will be buying in the middle of a war zone.

Most cities in OH have similar areas so regardless of whether it’s Cleveland/Toledo/Cincinnati/etc that’s probably the case.