All Forum Posts by: Nicole S.

Hi BP gurus!

I am putting an offer on a duplex that is being sold as two separate parcels. Each side is between 25-35K and I'd like to purchase both. I'd prefer not to pay all cash so that I can leverage my cash in other ways.

Question(s) for you....

• Are there lenders that will do loans for <20-25K?
• Are there lenders that would do one loan for both properties?

Thank you so much!

Nicole

Thank you all for your comments! Sounds like it's unanimous to start with single family and I learned about POS. Thank you!

Keep the thoughts coming! You all are great!

Sorry if this post is repetitive... I've searched and didn't find the answer. Feel free to point me to the post if it exists. :)

I have a business partner and we want to invest in a property together. We will share the down payment 50/50, and split any profits or costs in the same manner. We are establishing an LLC and a partner agreement, so we are all good there. Here's the question... Only one of us will be on the loan. Is this something that is common? What are the implications of this that we should consider, financing, legal, tax, or otherwise?

Thank you so much!

Hi BP,

Thank you all for this wonderful forum resource! Reading your posts have become a bit of an addiction for me. I can't wait until I am on the other side, helping other investors with their questions. For now, I'd like to ask your advice...

I'm a new investor looking to invest in the Cleveland area. My goals are to buy properties in safe neighborhoods with solid tenants. Being remote, I'm not looking to do major rehab for my first deal because I'm still building my network "on the ground" and it feels a little overwhelming, but I am willing to do some cosmetic items to attract the right renters. Cashflow is important, as well as potential for reasonable appreciation over time. My goal is to use these investments as a learning tool and a way to grow wealth for further investment. I'd love to hear your thoughts on...

1) What areas around Cleveland do you recommend and why?

2) Pro/cons of single family vs duplex vs quadplex in these areas?

3) Should I skip this step, and go right to larger multi-family units, partnering with other investors?

4) pointers to agents/brokers that focus in investment buyers in the area that may have a good track record and solid contacts?

I'm planning a trip in October and want to target areas and narrow my focus/strategy. Thank you!

Nicole

I'm also looking in the Cleveland suburbs, specifically Euclid area. I would love to connect with all of you!

Nicole

@Michael Swan Awesome info! thanks! I will definitely listen to the podcast!

This house will have new kitchen, baths, hvac, and heater. We are also going to do the roof. I love the advice to keep money in reserves. I will do that.

The area is Euclid. Are there areas to steer clear of?

@Federico Gutierrez Thank you so much for your reply!! Is it customary for landlord to pay Water and Sewage? Any idea on the typical cost of this for a 3 bedroom?  

How much for rental permit? Is it one per house?

@Robert S. I remember those days in PB too!! Great link. Thank you so much!

I'm about to jump in to my first out of state deal and I'd love some advice.

• 1200 sq feet 3br/2b in Cleveland area (good, safe neighborhood), house totally renovated
• $90,000 purchase price with 20% down
• Estimated rent $950-1000
• Expense assumptions: assumptions: $70/month insurance, $170/month taxes, 15% expenses & capex, 8% prop management, appreciation 3%

I figure it should conservatively cash flow $450/month.

Does that sound about right? Anything I'm missing?

Thanks in advance!

Nicole