All Forum Posts by: Michael Kiley

@Ron Szmik  (see above) ^^^^^

 This is the back wall of the house. There is good access to get a machine along this wall. I'm taking bids this week if you are interested. I'll PM you my contact info. Thanks

@Alex Sabio Some of my best flips have had foundation issues. This house still had multiple offers and I paid almost 10k over asking

@James Wise It's a SF house I bought to BRRRR or flip in Old Brooklyn. It's on Walbrook Ave. I have 52k into it and the basement is all that's left.

Can anyone recommend a good basement contractor in Cleveland, Ohio?

Turnkey property on Cleveland's westside in this solid B class Westpark neighborhood for sale!

* I will be signing another 2 year lease with the same tenant with 100% payment history in March. 

* Rent is $1100. 

Owner pays: 

Water/Sewer/Garbage up to $80 per month. 

Annual taxes are $2415.

* Everything in this home has been updated including a new kitchen, bath, electric, plumbing and new garage.

* The home next door sold in June 2018 for $141,500.

Personally, I like having the smaller mortgage. Having a break even cash flow on a property could restrict your future financing efforts and would be a constant thorn in your side. 

Like you, I use my HELOC to BRRRR. When I refinance, my goal is always to get more than my capital back just so long as I can pay off my HELOC in a reasonable time and a positive monthly cash flow of at least 250 per door.

NO WAY MAN!

Just imagine giving away 10% of your rent for a property that you live in...Why? Because you live in the house, who do you think will be responding to tenant issues anyway? 

 I like you're idea to house hack as it will put you on the fast track towards your next rental but I think you're education in dealing with tenants and understanding the business is far more valuable and I think you will eventually grow tired of writing all those checks to a property management company when you realize it's not as difficult as you think, especially if you are living there on the premises. Best of luck!

If you are looking for a team to grow your portfolio in Cleveland, look no further. As an agent, I have been helping out of state investors find and manage turnkey properties on Cleveland's westside and suburbs. 

Private message me if you would like to know more about investing opportunities here in Cleveland or if my construction and property management company is right for you.

Follow my latest BRRRR on instagram @CLEremodel