All Forum Posts by: Victor Vella

What world are we living in?!?!?

https://www.google.com/amp/s/amp.theguardian.com/money/2019/aug/13/danish-bank-launches-worlds-first-negative-interest-rate-mortgage

Get paid from a lender to hold a note on the property???????

It’s easy to say I think it’s crazy for the US to ever get to this point....but if it does - what does it say about valuations?

Joe I’ve worked with a Cali investor who is actively acquiring similar properties in CLE - connect with @Sammy Lyon

I’m an investor in CLE but most of my focus is A/B demand neighborhoods

@Kevin Co

I always always always dictate my title company. On the buy and sell side, in Ohio if you buy a house and use a particular title co then resell the house within x years you actually receive a credit on the sell side of the contract.

So to answer your question - no not weird at all. If I were in your shoes this wouldn’t raise a red flag - As long as they are legitimately a title company theoretically It should be fine.

That being said when people request this on my end and I have to be flexible I always do make sure they are legit as well as make sure a survey is ordered. I don’t think surveys come standard but maybe I’m wrong on that. Maybe connect with an attorney to ensure they are legit.

I always use Cuyahoga Title Services in Parma. Jim Z is my contact. They do title and legal.

Generally agree with @Federico Gutierrez and I think it’s creating investors to take bigger inventory risks in lower demand neighborhoods vs being more patient. Which is fine... til the market changes and inventory increases - when the music stops it will go back to location, location, location.  

I’m picking up properties once every 1-2 months. Some I flip, turn into rentals, some wholesale.

Pm me

We are marketing through Zipclosed.com

FYI I only mess with A/B sometimes C demand based communities. Acquired 70-140K with goal of retail around 180-250k

Pm me if that’s of any interest

- Victor

Is it junk removal or moving? I have a good junk guy

Also how bigs the tree - also what city?

If it’s a deal put it under contract and further vet the opportunity. Inventory is tightening back up

Agree James that is the goal - again why tremont and Ohio city.

Definitely not passed over.

Actually it’s pretty cool to see what the vision is for each little nook that was broken out

Mel are you looking residential/multi fam or commercial?

I think a lot of the opportunity zone areas in west Cleveland were in already in the “booming/gentrified areas of Ohio city and tremont

South of there you might have a shot at some appreciation

East - I would just make sure your comfortable with the risk that comes with a potential reward.

That being said the east side is getting some tremendous infrastructure 

- big corporate HQs

- opportunity Corridor 

- University Circle

Here’s a link to the map - https://www.ideastream.org/new...

I also do have some opinions on tremont/Ohio city being tapped IMO

I did corporate America for 10 years, lead sales teams, marketing teams, operations and start ups

During that time I dabbled in Real estate - dabbled for years. Last year I made the jump full time. Flips, rentals, wholesale etc 

Real estate can be rewarding but the ins and outs take years to lean. 

I honestly think what you did was great! You got a hell of a learning experience hands on. You know what not to do next time keep plugging!!!

I'm a full time investor that loves REI in CLE. Let me know if I can be of help.

I would suggest just preparing for that vs just trying to analyze it.

The more units you have plan for more things to pop up. Also make sure you plan/account for vacancies that will be your biggest cost/expense IMO