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All Forum Posts by: R. Elle Berry

R. Elle Berry has started 5 posts and replied 48 times.

Post: Experience with STR

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

Investment Info:

Condo buy & hold investment.

Purchase price: $197,000
Cash invested: $20,000

Purchased condo, rehabbed and use as a short-term rental property.

What made you interested in investing in this type of deal?

In the market for STR

How did you find this deal and how did you negotiate it?

Hired knowledgeable real estate agent. Already great deal, price was right.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Rehabbed entire unit. Only structure and one tub is original. Glazed tub, painted walls & doors, replaced flooring throughout and totally rehabbed kitchen and bathrooms.

What was the outcome?

Listed as STR

Lessons learned? Challenges?

Search for lower HOA, especially without paid parking permits which are not expensive but tedious especially for the guests.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed Ohio broker and relocation specialist for Orlando Florida markets with a referral agent.

Post: real estate starting

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@Barak Ben israel Welcome! I propose you look into the Midwest states Ohio, Illinois, Michigan, Missouri etc. you can get more for your money. I assist a lot of investors in Cleveland Ohio where homes are $40k or less. You can buy, hold or fix and flip. A lot of housing options in Cleveland from my experience as a Broker and investor myself. Please let me know if you have any questions about the Cleveland market. Thank you and many blessings to you young man!

Post: If You Had to Start Over with $10K, How Would You Invest in Real Estate?

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@Clayton Silva Wholesaling isn’t a problem if licensing wasn’t involved. Agents were confused how to work with wholesalers and the wholesalers were sneaky, assigning deals prior to closing. So unfortunately, wholesaling should be shutdown and those investors should work directly with experienced agents!

Post: If You Had to Start Over with $10K, How Would You Invest in Real Estate?

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@Edgar U. Great advice! I have land in Interlachen, FL, that I’m looking to sell. Does DealMachine provide buyer leads, or is it only for finding land sellers?

Post: If You Had to Start Over with $10K, How Would You Invest in Real Estate?

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@Shanai Rogers Good information. Is Orlando FL a good market for this concept?

Post: Debating on wholesaling land vs properties in FL, any advice?

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@David Ramirez Yes, David I see that too and that was a concern of mine, builders wanting several lots vs a single lot which makes sense. Thank you for replying!

I’m currently looking in Citrus County for a potential client. How much is the lot?

Post: Debating on wholesaling land vs properties in FL, any advice?

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@Priscilla Z. Great information! Thank you for replying! I hear contacting agents is a good way to jump start into the business.

I want to wholesale both land/homes. I don’t want to limit myself. I see the pros and cons with both situations but definitely more pros. Thanks again!

Post: Debating on wholesaling land vs properties in FL, any advice?

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@Kerry Noble Jr Thank you so much for taking the time to reply. Very good advice I will look into both options.

My only concerned about contacting developers is most areas I would wholesale are rural areas and developers may or may not be interested in developing in those type of locations but it doesn’t hurt to reach out and try. Thank you again!

Post: Debating on wholesaling land vs properties in FL, any advice?

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

I’m fairly new to FL and want to dive into real estate. Originally I was considering wholesaling properties (prior to getting licensed) however, I’ve stumbled across land wholesaling. I’ve purchased land in Putnam and Citrus counties and after researching land wholesaling I’m intrigued with the quick process of selling land vs selling homes.

Anyone has experience with land wholesaling? Thoughts on wholesaling homes vs land tips? How to find developers?

Post: WHERE TO INVEST???

R. Elle Berry
Posted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 51
  • Votes 39

@Derek Fike The Midwest will always be a great market for Cashflow. Missouri, Ohio etc. Buy low, rehab, rent and repeat is the best strategy.

As an Ohio agent target area is Cleveland, I highly recommend investing there to generate rental income.