All Forum Posts by: Account Closed

I know its a great deal and I knew no one would believe me but thats ok. I got no reason to lie. 

Hit me up 1 year later and ill sell it to any of you who s interested. It ll be 100% occupied by then.

 If you followed what I was saying well, you will spend more than that. Its only because its my friend. He is Godsend to me. He said he will work for me for 2 years to make me rich then he will retire. Without him, i wouldnt have this much such success. He charges me very very little. 

But, you will hire contractors and they will ask you top dollars for their work. So no, it wont cost u only 5k plus your out of state.

Bear in mind that, I have to buy all the materials so the 5k is only labor.

I really appreciate your offer though.. I just dont like to sell... too much hassles with buyers.. I like to buy and hold for cash flow

 Thanks for sharing this. Like you, thats all I keep hearing in my ears but my success in e cleveland proved that all these ppl are liars. Im having success here in e cleveland. My apartment is in the best part of the e cleveland but the others are in the worst part which is ok to me. I make good cash flow here in the so called war zone.

@Finny Chacko Did my original post or any of my replies indicated that I was seeking advice? I said I already bought it and was happy with such a rare deal. If I was looking for advice, I would ask before I buy it. And, this is where we ask questions/seek advice but also share personal success stories. I didnt have to be seeking for any advice to share my success story here. No need to get jealous here bro. No place here for that. We cheer for each other here. We are all trying to get out of the rat race in America.

Guys, why would I lie about such a thing? I know its crazy but if u knew this guy, you wouldnt say all of these things. He s the kind of guy when he started working for u, no one can take him away from u. He s cheap and work everyday till he s done. He s done 2 atics for me before which bring me an addtional $1,000 in monthly income in 2 duplexes i own in e cleveland.

I know and I know well that e cleveland got a bad name but u guys have no idea about the opportunities here in what u call the war zone. Ppl are calling everyday to rent in e cleveland--ppl gotta here somehow i guess. My tenants pay me well-- very low evictions and no vacancy for me. Very good cash flow on small investement. Yes, my apartment is in e cleveland but guess what? Theyre selling these 8 units for 200k here(check loopnet).

After renovation, I will fill half of it up with section 8 tenants. I will not wait till its finish to start filling it up though. When its full, i will refinancing and take about 150k to buy other apartments in georgia or texas as down payment.

Im so excited guys!!! E cleveland is working fine for me. Sometimes, i stay here for 2 months and i havent got shot yet. Very quiet area. If there are a lot of drugs here, then who cares if that doesnt affect u? No one has ever offered me drug here yet.

@Caleb Heimsoth Not at all bro. Its not a bad area but it certainly not a b, its a c. It used to rent for $475 1br but after I add this extra bedroom, it will easily rent for $600. This lady kept it for 5 years and she was about to renovate it and already started then decided to sell it. I grabbed it before someone did. Its all by the grace of God NOT a war zone.

@Jeremy Taggart, yep thats what I said. He wanted only 3k but when I asked him to add an additional bedroom in each unit, he said i have to give him 5k and i agreed. A very good man God sent my way. But, like I said I will not abuse him coz I know thats a 25k job at least. I sure will give him more cash when i refinance. Thats just me.

I just picked an 8 units aparment building for only 25k in cleveland. It needs quite some work but not too bad for me since I got a good reliable guy who will only charge me 5k to get it all rent ready. Any other company would ask me anywhere from 40k at least. It would be even less if I didnt ask him to add 1 more bedroom in all the units. Theyre all 1 bedroom now. I will just buy him the materials and he ll work. But, I plan to give him an extra 10k after I refinance this apartment in 1 year. No way would I just let him do all that work by himself for only 5k. And I need to add "no crappy work", this guy is a pro. I feel so lucky. The ARV is 170k. Its low because its a c class apartment. But, considering what I paid for it. This is a steal.

Wish me luck!

You guys are right. It is a rough area but the opportunity is there for local investors. Therefore, I gave this a lot of thought from my experience of non paying tenants and ive decided to move here for couple years, make 500k and move back to CT. 

I am buying duplexes at 10 to 15k with value of 40k in good condition with tenants in place. I have over 100k in equity now with only 3 houses. I couldnt do that anywhere else.

From my experience, once tenant finds that ur out of state they dont care to pay. They think they ll score 3 to 4 months free of rent. Its a shame but its true. 

But, The state of Oh dont play with non paying tenants. They kick them out quickly no questions asked- I like that.

I thought that would be obvious as to why someone would invest in E cleveland but things are changing fast in E cleveland. Many bad houses are being taken down by the city. Ugly houses are going out. Road constructions etc.... Homes values are going up. Im optimistic about E cleveland. I have no remorse investing here. It only takes a few great tenants. 

I will soon take all my equity out and maybe invest somewhere else or keep re investing here.