All Forum Posts by: Stefen Lee

I started with 10k three years ago so 12k is a place to start. One u can partner with some with another 12k and find something in the Midwest put some sweat into it and get started. Or like has been said be a passive investor on your first few deal to raise your capital. Pm me if you need more help. Good luck 

I'm am a investor in the cleveland market but live in Atlanta. I can help you with that pm me for details if you need more information.

i invest in Cleveland for small multi family low price point entry and great cash flow. i live in atlanta and the midwest my capital does more in smaller markets.

Don't let people scare you from what you wrote you and on target from a financial point. Now I would start looking around your property see what agent name do you see listing those properties and take them out for coffee. Set up local team so you can move around. A local agent with local experience in that area will help with management. Also however did your renovation can serve as your maintenance person as your portfolio gets larger. I do sub 20k rentals all the time in the Midwest. Good luck

I purchase out of state and it took a year or so to build a team. Now the team works great from acquisitions to rehab to rental or flip. I do think it's all about the team and systems. Having a understanding of the area is important but I have purchased homes without seeing them. I had pics taken inspection and closing without ever seeing it in person. Multiple times all went well.

i have put multiple properties on one contract and it saved a lot at closing. it was a process to get title company to understand but all in all one seller one buyer. i have more detail if you need. good luck

I will say this i see both sides but there has to be some ground rules. We all most agree its leverage. With leverage there's risk 2008 anyone? The refinancing and "pulling" money works till tenants don't pay. Or even worse we all didn't  get fix 30 year rates on all our investment properties. Then what??? Questions to ask....What is the leverage point in your portfolio that can be covered with 50% vac for a year? What ever you borrow you should be able to pay back in the worst case  you can think of times two. 

what area of the city are you looking to have management. The management companies are area specific.

yes I agree drive the area at night stop at a local store or gas station at night. That will give you the real vibe of the area. Also 250k is way to high do some research on any mortgage on the property. Learning the debt in property will give u a better idea on price to offer. You want to be all in Renovation purchase and holding cost for under 250k.

I have a few rentals in Cleveland. It's a great rental investment city. Hello to the market