All Forum Posts by: Itay Heled

Hello fellow investors,

I am renovating a house in Euclid and after the heavy rain some water accumulate in the basement. 

I was told by contractor it is common in this area and this is due to  house proximity to the lake and high water level in this area.

was wondering if anyone come across this in Euclid?

Thanks!

thanks for your feedback Don 

two of the houses are in the 44102 (83Rd & 81Rd street )

One is on Leeila Ave . obviously the level of finishes is for rental so i am not sure what extra $ needed  to appeal  for owner occupied and if it can really sell for 100k . kitchen has to be upgraded for sure. would you be able to tell based on address?

thanks

Itay

Thanks for your feedback Erin and yes that is what i am hearing from other Cleveland investors at this point inventory is still low and some buyers are still active

Hello fellow investors!

"to sell or not to sell? this is the question."

I have 4 SFH at the moment 3 turnkeys in Cleveland (west side) and one property for retail in Euclid.

turnkeys are around 70k each and Euclid house around $110 k all after full rehab .

should I try to market them right now  or hold them for a while  and wait till i can get a full price? 

in other words ,  is the potential cut in price worth it in order to be ready with cash to look for great deals in the next few weeks months? ?

two  notes:

1 I am a cash buyer only.

2 I have time - I am not in a position i have to sell now.

3 the sale is done by a local partner, usually for out of town investors .

would love to hear your opinion particularly from active investors in the Cleveland market

Thanks so much!!

Itay

would love to hear your opinion particularly from active investors in the Cleveland market

thanks Remington Lyman ,

do you know who is issuing there is a lead base hazard in Ohio? is there a report I can get with more info from the department of health?

thanks Remington Lyman ,

do you know who is issuing there is a lead base hazard in Ohio? is there a report I can get with more info from the department of health?

my fellow investors!

I am about to close on a house in Cleveland.

Title company notice that in the certificate of disclosure that came back from the city

the "open lead hazard control orders after Dec 31 2010" box is checked. 

seller claim he has no idea why. should i continue with the closing? any advice? 

Thanks so much!!

Hello BP members!

I am selling a rental duplex In Barrie Ontario and wondering if the math i did  for estimated return on investment in 5 years  is correct. 

(just to clarify , my question is not if the numbers i present  in section A are correct. 

I am just asking if the math i did on section B is correct .)

A assuming the following :

purchase price: $539,900

buyer /investor pays  20% down payment : $107,980

mortgage rate fix for 5 years 3.4% 

annual appreciation on this market  5%

assuming cash flow of the property is 0  (tenant rent pays all expenses including mortgage) 

B annual return on investment :

after 5 years the market value of the house based on 5% appreciation  per year,  would be $689,900

mortgage balance at end of 5 years term $386,593

equity in property after 5 years: $303,307

net profit (equity minus down payment) $195,327

profit per year $39,065

annual return on investment (profit per year divided by down payment) = 36% annual return on investment

make sense?

thanks for your time

Itay

thanks for your feedback Tom. yes I am aware . not trying to do it myself remotely  but considering  doing it   with local partner that has the  construction  crew  & property management in house . 

he believes there is a room for profit. .  burnt in the past with  beautiful optimistic  promises from local partners... that's why I am looking for unbiased opinion & that is what I am trying to figure out.

Thanks for your feedback James!

last week when i visit Cleveland I saw a  3 bed 1 bath in Maple heights that   just  sold  as a turn key for 85 k but it may be the exception?  Duplex is an interesting option indeed.