All Forum Posts by: Mohammad Sheatt

At this price/tent I would say put an AC What area of OH is it in ? Could you break down monthly expenses/income to see if the numbers make sense ?

I can give you my experience. I have been buying SFH in C-C+ areas in Cincinnati. I buy and fully rehab these and my cost is $50-60k all in. I focus on at least 3 bed 1.5 bath SFH so rent us around $1000-1200. They are easier to manage ( I have a management company) and less hassle, you deal with lease tenants for the same amount of return and SFH has less expenses than MFH. If you have a portfolio of SFH then vacancy is similar to MFH ( one vacant SFH out of 15 is like 2 appts out of 30) I buy /rehab with cash and my return is 12-15% vs MF returns are less than 10%. The downside is it takes longer to scale your business with SFH than MFH. I would not be against getting MFH if I find a good one but I would go for larger than 4 family.

Thank you @Sean Cole

I am wrapping up my Hyde park rehab so once Mark sells it for me then I will be ready to take on another rehab 

Hi @Account Closed

I just sent you a message.

Thanks 

This is exactly what I do. I so far have 6 SFH I bought between $25k-35k and rehabbed them and now renting them. These are in C class areas. I prefer at least 3 bedrooms 1-2 bath since you deal with one tenant for a higher rent. My rent is $900-$1100. You just need to know the area. In my area it has been getting harder and harder to find these deals. I pay cash and always file with the county BOR to lower taxes so my positive cash flow is great. One negative issue with this strategy is you have to keep looking all the time to grow your portfolio esp if you want to find them at a deep discount vs with larger multifamily you get a lot if doors at once

Finding good deals fir flip and buy and hold. The market is getting more competitive here. I did five deals last year and hope to at least do the same this year

I am in the Cincinnati area and it is getting harder to find good deals. I am open to other markets in OH. What is your proposal ?

Grow my Buy and hold SFH portfolio by adding 2-3 properties and flipping another 2-3 ones 😀

It depends on the area and whether you have a management company or self managing. I usually pay 10% for ins/RE taxes. 10% for repairs/vacancy. 10% for capital improvement. If you have management then add 10%. That adds up to 40%. I buy with cash and rehab all these houses so no mortgage interest and repairs/maintenance at least for the first several years are not high. This is my experience so far and everyone situation is different

Hello This one a the first time I am going to renew a tenant lease. Can I just do an addendum to the original lease stating all terms remain the same or should I do another whole lease contract ? Thx