Monday, March 24, 2014

Just Started High End Flip



We have started high end flips and have already sold one and have another in escrow.  These are properties that are $250,000 and up.  The home we sold was $382,000.  This market is very good for these types of properties.  We have the licensed realtors that can keep the inventory rolling for you.

We make 18% to 22% net return on the properties we have done so far.  Remember that is based on a 12 month return.  These properties usually take 90-120 days to construct and sale.  Rooftopinvestment wants to purchase as many properties like this for are clients as we can.

Check out this one we just started in Moreland Hills Ohio a very well to do neighborhood with excellent schools and high end amenities.

So if you are interested in these type of properties and want to get in the flip market and make a great income.



I want information on your Flip Program

We respect your email privacy

Powered by AWeber Email Marketing Services

Sunday, March 23, 2014

Rebranding the Cleveland Downtown is Happening



I have been in the downtown area many times and I can tell you it is very nice.  They are also expanding and adding $3 billion to that area. They are also investing $16 billion to the in infrastructure improvements, including the Greater Cleveland Aquarium and nine more hotels between University Circle and Cleveland . 

When I personally take new clients around the downtown area and the surrounding bedroom communities they are shocked.  The quality of the food,theater, and shops is very upscale and you need a reservation to get into most of the high end eateries.

I only talk about this because it is important to have a quality downtown area for prices on rents and purchases to increase.  Rooftopinvestment is committed to finding high quality areas that our investors are purchasing investment real estate in. We have a full staff of licensed realtors that meet with me almost daily to find these new quality areas.

Our clients purchased 21 properties last month and these are all double digit return cash flow real estate.  They are in great neighborhoods and areas.

I wanted to point out and be beware of some ads for investment property purchase. I saw one ad for investors to purchase real estate in Cleveland area.  The ad says that you will get Free Property management and they guarantee the money.

When an add says anything free especially a crucial part of running your investment property please run. When they guarantee the rent that means they are adding that money on the sale of the property.  Here's how it works. You buy a cheap property that is marked up a lot.  They hope that the renter stays for 12 months but that usually doesn't happen in the areas they are purchasing in.

So the seller hopefully puts the money away to pay you the rest of the rental payments when the tenant leaves.  The other problem is re-renting the property after the tenants leaves.  That's were the FREE property management becomes a problem they are doing work for free?  Think about that would you run someones investment property for FREE?  I know I wouldn't.  So please be careful when your purchasing any property anywhere. 

Few rules of thumb that could help you decide.  Make sure that the area you are looking at has franchised stores or ones you would like to have around your area.  You want to also look at the rental rates.  A single family home in a quality area will get $900+ per month all day long in the good areas of the Cleveland Metro.  Lastly don't go to areas that they say will be better one day.  There are enough great deals in the quality areas to be purchased today.

Remember you work hard for your money and deserve the best property for your money, and you need to make money in the future. Make sure that it also attracts quality tenants and will be a property a family will want in the future.  Brett Young CEO Rooftopinvestment.

Sunday, March 16, 2014

High End Homes Sales Rising in Northeast Ohio



I found the story in Cleveland.com talking about the high-end sales rising in the Northeast Ohio area. I've also noticed that myself that the higher in home really starting to move. This is a great sign for this area.

The difference in the rebound in the high-end market in this area is the amount of people that are buying from out of this area. I know for fact because I have a lot of international buyers and out-of-state buyers. This accounts for 100% of my business and they are coming here in droves. We are noticing a lot more buyers in this market than there used to be. That can only mean one thing pressure on prices and inventory which is a great thing.

The Cleveland area has always been a great place to buy real estate especially the prices. The Cleveland downtown has made the biggest strides with $3.2 Billion dollars being spent.  I was downtown last night at a Great Brazilian steak restaurant called the Brasa Grill Brazilian steakhouse. We had a 45 minute wait to get seated even with a reservation. We walked up and down the downtown area looking into the many high-end restaurants and noticing that they were packed full of great people. These places are doing tremendous business! This is great to see because the downtown in a metro area is very important for the outlining areas. Cleveland really has it going there.

We are currently rehabbing a property in Moreland Hills Ohio retail for over $425,000. Click here to view those pictures. We just sold a nice home modest in Orange Ohio for $250,000. Also one on 5825 Dodsworth and Solen Ohio $382,000. We have two other homes about ready to hit the market one will be at $250,000 and the other one will be at $425,000. So as you can see what this is a healthy market for these properties.

The rental market is also very strong we have over 200 properties that we lease for our clients. We are getting between $950 a month to $1600 a month for monthly rent on these properties. These are modest price homes in excellent areas that also have the amenities that are needed for someone to want to live there. These homes also stay rented or 14 months on average had some go up to 5 years.

This market is really getting healthier with a mixture of rentals and flipped The key is to be right market for your portfolio. Brett Young CEO rooftopinvestment.com

Click here to get your FREE Important Information on this area 

Thursday, March 6, 2014

Cleveland Downtown is Booming!


 
I found a 4th qtr report from DOWNTOWN CLEVELAND MARKET UPDATE.  It really goes over the new commercial and residential side.  All new builds are 90% or more occupied.  They have built 817 new residential units in the past 18 months and have another 1133 to go up in the next 24 months.  The average price on the 936 that were sold is over $244,000 per unit.  Wow that is great for this market and shows that the Cleveland downtown had really turned the corner.

The report also points out that there are 3557 hotel rooms and they are adding 1737 more by 2016.  That's about a 50% growth in the next 24 months.  The avg price for each room is $118 and they stay 67.2% occupied. Those numbers are both up from 2012.  Again another sign of consistent growth.

Lastly the commercial part of this report shows another 255,000 Square foot of space being leased out. That is  more than Pittsburgh, Washington D.C. and Portland.  This is a great part of the report
"The tight Class A market coupled with the successful 91 percent leasing of the new EY Tower indicates increasing demand for new Class A construction."  Again this shows the level of business that is moving into this area. Brett Young CEO Rooftopinvestment

Will enough of me check out this report Click here to view it

Professional Listing Service and More

We just sold two homes in 4 days meaning this is a sellers market! Selling in today's market is easier with the right marketing ...