Thursday, July 31, 2014

Weekly Ad: Parma Property




 

Attractive and spacious two story colonial in Parma, OH.  This home has open floor plan, hardwood flooring, 3 bedrooms and 1 bathroom.  It also features a fireplace, wood deck and a two car garage.  Parma is one of our best rental areas and inventory is tough to get.  There is a home pending just a few doors down within 30 days priced at $113,500.











Property #’s Below:
Purchase Price ---------------------------------------------------$ 47,500
Rehab Cost ------------------------------------------------------- $ 22,500
Total Cost including rehab and purchase-------------------$ 70,000


After Expenses Projected Positive Cash Flow $738
Rent -------------------------------------------------------------$1050
Prop Management -------------------------------------------- $   105
Taxes ---------------------------------------------------------    $   157
Insurance ------------------------------------------------------- $    50
Positive Cash Flow ------------------------------------------- $   738
ROI -------------------------------------------------------------------      13%

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1 billion in Rental



With the banks ignoring a lot of the mortgage industry rental bonds are starting to be attractive to investors and hedge funds. Banks inventory of foreclosed homes or down 44%. Of course all this depends on the rate of return on these bonds which is usually very hot.

According to Bloomberg Wall Street myself $5 billion in bonds backed by rental homes this year, this is a market that could grow to 20 billion annually. Click here to see the whole story

Prices are rising they are actually up 23% from March 2012 and deals are getting harder to find.

So you as an real estate investor should really start looking at buying more properties for your portfolio. With Blackstone, American homes 4 rent, Wells Fargo and J.P. Morgan underwriting deals for corporate landlords this can mean only one thing the prices are going up and profit will be up also.

There you go another huge change in the way real estate is done.  With investors buying all the good inventory up and leasing the properties out it creates a new market.  In real estate there is always something going on and the investors that see that will be the winners.

I see a lot of positive news on real estate and the banks are going to follow this trend.  They should be easing the mortgage restrictions now that banks aren't the only game in town.  Watch the lending as it eases and investors get back into the real estate market for mortgages.  Brett Young Rooftopinvestment

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Wednesday, July 30, 2014

Real Estate Success Story''

Here is yet another property that has a very happy client that we just finished and rented.  The property was rented for the projection and has a double digit return.

This is a very nice 3BR 1BA single family home in Cleveland Heights Ohio. This home is being completely remodeled. Updates will include repaired drywall, new electrical plugs covers switches and light fixtures, refinished flooring and much more
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Tuesday, July 29, 2014

Back on the Market: Lakewood Duplex

Here is a rare Duplex in Lakewood this duplex is a side by side.  This means higher rents and great tenants.  We had great success with these properties in Lakewood and this is no exception.



Rare Lakewood side by side double. 3 bedrooms, 1 bath per unit. Roof 2009, 2 new furnaces 2012. Large enclosed front porch. Separate attic will be finished to add a fourth bedroom and each unit has a separate basement. 








Property #’s Below:

Purchase Price ---------------------------------------------------$ 44,000

Rehab Cost ------------------------------------------------------- $ 43,000

Total Cost including rehab and purchase-------------------$ 87,000





After Expenses Projected Positive Cash Flow $979

Rent --------------------------------------------------------------$ 1550

Prop Management -------------------------------------------- $   155

Taxes ---------------------------------------------------------    $   241

Water-------------------------------------------------------------$   75

Insurance ------------------------------------------------------ $    100

Positive Cash Flow ------------------------------------------ $ 979

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Monday, July 28, 2014

Playhouse Square in Cleveland

Check out the new Playhouse in this video and the history of the downtown Cleveland. Check out the detail in these buildings and the love people have for this district. The downtown has really come alive and does glitter with lights and Money. I threw in the lighting of the chandelier.




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