All Forum Posts by: Dennis Knapp
Dennis Knapp has started 9 posts and replied 24 times.
Post: Sheriffs Auction Cuyahoga County Ohio
- Posts 26
- Votes 20
are any of these regular tax deed sales? or are they just bank foreclosures? i am hoping to find something fro 70%max or hopefully less than that is that possible?
Post: How do i know how much the rehab will cost?
- Posts 26
- Votes 20
Quote from @Bruce Woodruff:
In my experience, most of the online calculators are just taking an educated guess for you. They are better than a rookie guessing but they cannot see everything like a real person walking the property, and you could be tens of thousands of dollars off on your guesstimate number. And unless you have very deep pockets, you can't afford to be that much off....
So as has been said....hire a very experienced General Contractor and have them give you a budget number based on your SOW, (plus they will find other things that need to be done that you will not have seen).
On your succeeding projects, you do a budget yourseld first, then hire the GC and compare numbers.
Then, eventually you will be comfortable going all solo...but it takes time.
great advice thanks
Post: How do i know how much the rehab will cost?
- Posts 26
- Votes 20
Quote from @Annie Schrock:
Hi Denny, if you work with a hard money lender, they will also validate your ARV. They want to know it will sell for what you think it will before you get into the deal. They'll also be a second pair of eyes on your construction costs. If you pick a good lender, they will have done a lot of deals and be able to have a rough sense if your construction costs are on par for the project.
Great to know thanks
Im new and want to spread the word im just looking for some good elevator pitch ideas. Thank you for your help
Post: Why Private Money Lending Can Be a Win-Win for Real Estate Investors
- Posts 26
- Votes 20
Quote from @Mark Wright:
Private money lending is a great way for real estate investors to access fast, flexible funding. Unlike traditional bank loans, private lenders offer quicker approval, fewer requirements, and the ability to customize loan terms to fit the project. This can be a game-changer for fix-and-flips, buy-and-hold investments, or new development projects.
For lenders, it can mean earning higher returns, often in the range of 8-12%, backed by the property itself. It’s a win-win: investors get the capital they need to grow their portfolios, and lenders earn competitive returns with a relatively low-risk investment.
It’s worth considering if you're looking for more funding options or better returns!
Yes does anyone have any PML leads?
Post: Advice: New Investor/Small but Mighty Portfolio/ Long Term Game Plan
- Posts 26
- Votes 20
Quote from @Kristine Wights:
I’m a west coast transplant now in Ohio. You can spend $150-200k and easily hit 1%. I work with OOS investors from similar west coast inflated markets to make some passive income here on great properties!
Good luck in your journey! :)
can i ask what OOS investors is? thank you!!
anyone have a good real estate attourney in ohio? im in Cleveland. im guessing they should be from the same state and possibly the same area. thanks,
Post: has anyone used BFS Financial Solutions?
- Posts 26
- Votes 20
they are offering 5% down and 5% fixed rate just seems to good to be true i am researching them now.
Post: has anyone used BFS Financial Solutions?
- Posts 26
- Votes 20
they got ahold of me on fb through one of my groups and claim to be a direct lender. they seem to good to be true. I want to make sure i dont get scammed out of $1,000's on my first big deal. thanks for any info.
Post: new to investing in cleveland
- Posts 26
- Votes 20
Quote from @Robin Simon:
nice, house hacking or are you occupying both units?
i wasn't buying this as a start to my real estate career just to help me with the mortgage. It was a good investment if i would move out and rent my side out it would have a 17% coc. yes one side came with renters CMHA