All Forum Posts by: Frank Harris
Frank Harris has started 3 posts and replied 17 times.
Post: Construction to permanent loan on an investment property strategy
- Posts 17
- Votes 6
Check out LJI Wealth Management with United wholesale Mortgage.They have a construction to perm loan program for investment homes.
Post: Does anybody have a New Build with Blacktip Construction Group in Cape Coral Florida?
- Posts 17
- Votes 6
Hello, I'm trying to find out if anybody on this forum has had a New Contruction house built by Blacktip Construction group or is in the process of building. I would love to connect and ask a few questions.
Post: Current Cape Coral Data?
- Posts 17
- Votes 6
Quote from @Peter Davis:
Absolutely! We just released the February report last week. I'll PM you both for your email addresses.
Hi Peter, would you be able to send me a report too please. Thanks, I'm in the process of a new build in Cape Coral right now.
Post: Cleveland neighborhoods, investing
- Posts 17
- Votes 6
Quote from @Robert Matelski:
Originally posted by @Chelsea Jeffers:
@Ricardo Navarro my property management company manages quite a few in that area.
I am definitely still skeptical.
Hey Chelsea... from seeing who you worked with to buy your other property recently, it looks like you're working with Haven/Azzam... North Collinwood varies quite a bit, and yes, Haven manages quite a few properties there (including mine). They don't tend to steer their clients majorly wrong so I honestly don't think you need to be too concerned. My North Collinwood properties are solid performers. North Collinwood tends to get better as you progress north/east. Some of the blocks closest to the lake are actually commonly occupied by 6-figure-earning professionals. The difference between a property on Hale Ave. off of E. 140th for example and a property on East Park Dr. off of Lakeshore Blvd. could not be more stark (yet they are both technically North Collinwood). The other commenters probably don't understand how nuanced and variable this neighborhood is. Let google maps (street view) and census data (income, vacancy rate, etc.) be your friend and show you just how bad (or decent) any neighborhood actually is. I have created a map of the Cleveland area that is derived solely from data (rather than anecdotes/opinions) to show risk level for each census tract and would be happy to show you... just inbox me if you're interested.
Hi Robert, I just in boxed you pertaining to the map you created for Cleveland neighborhoods.
Post: I need help coming up with a partnership deal (contract).
- Posts 17
- Votes 6
Quote from @Chris Seveney:
@Frank Harris
Definitely speak to an attorney.
Simplest way is to have him give you a note and slap mortgage on the property at a defined interest rate and keep the upside
Post: I need help coming up with a partnership deal (contract).
- Posts 17
- Votes 6
Hello, I'm wondering if anyone could help me come up with a deal(contract) with a co worker of mine who has money($200k) to invest in a couple of houses and they want to be a partner with me. He would bring the money and I might pitch in too and I would do alot of the work finding the deal and setting it all up, most likely with a turnkey company. English is his second language, so he wants me to do all the interactions with the contacts and set up the whole deal.What kind of percentage or scenario contract could I come up with?
Post: Whats your opinion on Turnkey Investment Property Companies?
- Posts 17
- Votes 6
Quote from @Leah VandenAkker:
Quote from @Frank Harris:
Quote from @Simon Ashbaugh:
I would strongly recommend finding a VERY thorough inspector that you trust, as flippers are known to cut corners. I'd be happy to send a list of inspectors in Ohio if you'd like!
Would love to hear about your experience after your purchase!
@Leah VandenAkker Dm me and ask me some questions.
Post: Whats your opinion on Turnkey Investment Property Companies?
- Posts 17
- Votes 6
Quote from @Simon Ashbaugh:
I would strongly recommend finding a VERY thorough inspector that you trust, as flippers are known to cut corners. I'd be happy to send a list of inspectors in Ohio if you'd like!
Post: 110 years old duplex in Cleveland Ohio with CoC 10.5%
- Posts 17
- Votes 6
I'm buying an 102 year old house in Cleveland ohio too and am a little concerned on the problems it might have as in plumbing and electrical etc.. I'll be needing a good home inspector too.
Quote from @Peter Davis:
@Frank Harris
I’ve represented sellers of a number of new construction homes in Cape Coral and actually have two listings under contract right now. They’re both in the NW Cape and sustained very minimal damage from hurricane Ian, including the coachlight globes out front were broken and missing plastic lids on the well equipment but that was about it. Neither of them is in a flood zone but are both built up to some elevation. I think you’ll be in good shape with new construction off water in Cape Coral. By the way both buyers under contract to purchase these homes are following through with those deals in spite of the hurricane. This is where they want to be. Good luck!
Hi Peter, I'm also in NW Cape on a freshwater canal. But my house will also be built on a slope. Congrats on selling 2 properties after what just happened. Like you said though, there was minimal damage due to where they are located. Same goes for where I'm located, the only thing that does worry me is if those freshwater canals rise high enough to reach my property.