All Forum Posts by: Sunday Akin
Sunday Akin has started 2 posts and replied 19 times.
Post: Starting out w/ Turnkey Properties before doing Apartments
- Akron, OH
- Posts 19
- Votes 2
@Darren Eady .... It is good to know you have been able to create a passive $10k per month through turn-key rentals. I am new to RE investing and I am planning to start with turn-key properties. Please kindly advise how much capital will be needed to do this, especially if one is using more of loan and not cash.
Thanks,
Sunday Akin.
Post: Alternatives to Turnkey Investing?
- Akron, OH
- Posts 19
- Votes 2
Originally posted by @Cailyn Aune:
@Bob E.- ... There is one company we've connected with that has been recommended by multiple individuals who invest in the turnkey market who have used them and use them personally, that we are seeing their returns as high as 19%, 24%, and even 28% (depending on the property)... and they have every thing included on their proforma... they don't leave out a bunch of stuff like everyone else does to make their numbers look good/better.
@Cailyn Aune ...I am a new investor, and also new to BP. I have also been curious about the same question you asked. I will really appreciate it if I can get the name and contact details of this Company (providing turn-key's) that many people have recommended, with their returns ranging from 19% to 28%. I will like to do my due diligence on them, and probably invest with them.
Thanks,
Post: Who knows an excellent property manager in Cleveland / Akron OH?
- Akron, OH
- Posts 19
- Votes 2
@Matt Motil : It is my first attempt... may be I am being ignorant. But I don't mind experimenting with the right property manager. I got a 14k deal already with the tenant paying $560 rent per month and 1-year lease. I am hoping that will work out well with the right management.
Another out-of-state owner in Akron selling his whole portfolio has also agreed to sell one of his properties, a duplex for 25k, which brings in gross $900 per month, and long-term tenants. I'll make my offer contingent on inspection. I also like to experiment with this and see how it goes. He has owned the property for few years, managed by himself, and has worked well for him. But he is now old and retiring.... So, I am hoping it will work for me too...
Anyway, your comments and suggestions are welcome!
Thanks.
Post: Who knows an excellent property manager in Cleveland / Akron OH?
- Akron, OH
- Posts 19
- Votes 2
@Matt Motil, I do sub-30k for now, with at least 25% CAP rate... Let me know if you have deals like this in the areas you manage. Thanks!!!
Post: Who knows an excellent property manager in Cleveland / Akron OH?
- Akron, OH
- Posts 19
- Votes 2
@Joel W. thanks for your suggestion. I am not sure Holton Wise Property Group manage in the eastern part of Cleveland, but I will find out.
Post: Cleveland Property Managment Companies
- Akron, OH
- Posts 19
- Votes 2
Originally posted by @Federico Gutierrez:
Originally posted by @Sunday Akin:
Originally posted by @Bob Collett:
Matthew
Make sure you ask the PM that you talk with for their license number. Ask what services does you PM provide. Lots of unlicensed PMs running around town. Ask if they file rental applications, testify at property tax complaints, shop your insurance, etc. Let me know what zip codes you are looking at, and I will be happy to give you an idea of what to expect in the neighborhood.
Good luck, and welcome in advance to Cleveland.
Hello Bob,
I was not the originator of this trend but I am also a new investor in the Cleveland area. I just got an accepted offer for a single family house in "East 103rd Street", which seems to be a quiet Street, but undesirable neighborhood. I have never lived in Cleveland and I am hoping this is not a mistake. I think having a very good property manager with experience in this area will help. Please let me know how you can help.
Thanks!!!
Is that Shaker Heights?
Were you working with a realtor when you put this under contract?
I don't know Cleveland that much... E 103rd Street...Yes I used an agent that was helping with some properties in Youngstown to submit the offer to the listing agent.
Post: Who knows an excellent property manager in Cleveland / Akron OH?
- Akron, OH
- Posts 19
- Votes 2
Thanks for the feedback... I will be reaching out soon.
Post: Cleveland Property Managment Companies
- Akron, OH
- Posts 19
- Votes 2
Originally posted by @Bob Collett:
Matthew
Make sure you ask the PM that you talk with for their license number. Ask what services does you PM provide. Lots of unlicensed PMs running around town. Ask if they file rental applications, testify at property tax complaints, shop your insurance, etc. Let me know what zip codes you are looking at, and I will be happy to give you an idea of what to expect in the neighborhood.
Good luck, and welcome in advance to Cleveland.
Hello Bob,
I was not the originator of this trend but I am also a new investor in the Cleveland area. I just got an accepted offer for a single family house in "East 103rd Street", which seems to be a quiet Street, but undesirable neighborhood. I have never lived in Cleveland and I am hoping this is not a mistake. I think having a very good property manager with experience in this area will help. Please let me know how you can help.
Thanks!!!
Post: Who knows an excellent property manager in Cleveland / Akron OH?
- Akron, OH
- Posts 19
- Votes 2
I am a new investor, just starting. I recently got an accepted offer for a single family in Cleveland OH, and planning to buy more in the Akron OH area. From what I have read so far, I realized one of the success factors of this rental property business is having an excellent property manager / management team. I will be glad to have good recommendations from people who have experience working in this area. Thanks!!!