All Forum Posts by: Kellan Martz

@Diana Costta Thanks! Yes we needed a pre-approval. No seller will really consider any offer without it. It is good to get it before you start seriously look, at least in my experience. Just send you a message about recommendations.

@Drew Sygit haha yes that’s probably true. It’s in Cleveland OH.

Correct, I'm in California It's been a process but not in a bad way. I think it comes down to spending the time to interview several people (or more) for each role (realtor, property management, inspector, lender etc.) and not being afraid to keep asking around if one doesn't fit your needs. Also, referrals are very helpful. Investing out of state is a leap of faith and not for the faint of heart, but after the first one, it gets easier. Happy to answer specific questions here or message me.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $68,650
Cash invested: $22,000

Buy and hold duplex. Cash invested in down payment and closing costs. We are in the process of addressing deferred maintenance.

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

Own a SFR and now interested in a multifamily property.

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

Off market through my agent. We negotiated based upon keeping it off the MLS and the home inspection report.

How did you finance this deal?

Traditional financing.

How did you add value to the deal?

We are currently doing deferred maintenance.

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

Yes, feel free to message me.

@Ronak Patel How is the process going for you? I just toured a 2 story ADU in Studio City this morning. Loving the growth of ADUs being built (finally).

@Ronald Rohde that is awesome. I want to diversify my portfolio so looking at commercial properties etc. I love the idea of having a place with less maintenance and somewhat easy management. I will check out the storage rebellion - thanks!

@Mike Trzaska congrats - looks great. Do you mind sharing your handyman's info or know of one? I have a duplex under contract in East Cleveland and will be doing some minor repairs when it closes. I also have a minor roof repair and gutter repair that needs to be done. Thanks!

Hi - I have several residential investment properties. I am interested in exploring investments in self storage units or mobile home parks. Does anyone have advice on where to start my research? Or if you invest in these types of properties, do you have any advice? I am located in Los Angeles but my properties are in Ohio. Thanks in advance.

@Michael Wentzel I like the idea of a smaller community too. I have a SFR in Cleveland that is doing pretty well, the property manager is pretty good minus the maintenance upcharges. What turned you off to Cleveland besides your bad PM?

@Spence Kal thanks haha. It was pretty low on my list as it looks pretty dead and depressed, but good to ask around for advice like yours.