All Forum Posts by: Eric Warren
Eric Warren has started 2 posts and replied 7 times.
Post: Beautiful Garfield Heights 2 family.
- San Francisco
- Posts 7
- Votes 3
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $53,000
Cash invested: $60,000
Sale price: $169,000
2 unit. full rehab
What made you interested in investing in this type of deal?
Was the perfect opportunity to buy and flip. Great neighborhood and a great deal.
How did you find this deal and how did you negotiate it?
auction
How did you finance this deal?
paid cash. brrr to pull my money out. was going to originally fix and hold for LTR
How did you add value to the deal?
complete rehab.
What was the outcome?
Was able to flip this one for a little over 50K profit
Lessons learned? Challenges?
Didn't have to use much of my own money.
Post: Single family buy & hold. Tenant Stayed
- San Francisco
- Posts 7
- Votes 3
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $60,000
Cash invested: $10,000
single family. Tenant occupied.
What made you interested in investing in this type of deal?
My portfolio is mostly buy and holds
How did you find this deal and how did you negotiate it?
Found it with a local realtor. It was a pocket listing
How did you finance this deal?
paid cash. Brrr and got my money back
How did you add value to the deal?
interior updates
What was the outcome?
tenant still lives here
Post: What is Happening to OHIO?
- San Francisco
- Posts 7
- Votes 3
Quote from @Brad S.:
Chances are, if we’re here having this conversation, it’s too late.
Not sure where you are looking but you get 10% or better NET caps based on cash purchases. There is a reason why 100s an 100s of investors have been buying in OH for years and years. Heck I just had a closing yesterday ( 5 more next week ) all in 110k, net rent 13- 14k,,,
All the best
Post: Looking for a PM
- San Francisco
- Posts 7
- Votes 3
I work with a property management company there that has worked for me. they manage my portfolio in Ohio currently.
Post: Looking for a PM
- San Francisco
- Posts 7
- Votes 3
Quote from @Leah Gonzalez:
Haven't contacted another PM yet. She isn't paying her whole rent and utilities. At this point, my PM is not accepting any payment that is not in full so he can start eviction on 3/2. This is my first experience with a PM so I'm curious if this is a renter quality issue (I have a 4/1 SFH) or PM management issue. Just trying to get some perspective from others' experiences.
Post: What is Happening to OHIO?
- San Francisco
- Posts 7
- Votes 3
Ive been investing in Ohio now for 3 years and I've finally run into a rough patch of competing against 9-11 other offers. The rent to cost ratio has been great. better than the other markets that I've invested in. It's definitely taking a shift backwards.
Post: Can I rant about OPM
- San Francisco
- Posts 7
- Votes 3
This absolutely correct! It's the new "black" Build "generational wealth and OPM" are running neck and neck. Both take tons of work, consistency, and commitment.