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Sunday, August 31, 2014

Busy fall market 2015

New Building is prepares for busy fall market and 2015

Here is a story that talks about Petro Homes are getting ready for a busy rest of 2014 and 2015.  These homes are in Avon Lake which is close to Lakewood Ohio (maybe 10-15 min out).  The prices start at $194,800 and go up from there on townhomes they are selling in Mentor Ohio.  They have 50% of those already under contract.

The Avon Lake Homes

Petros LakeForest_Model-59.jpg
Their Red Tail Golf Course these properties start in low $300's and only a few home sites remain.

Here is a statement from the this story
" Looking ahead to 2015, the company will continue with strong sales and this fall will be introducing a new community in the Brecksville school district located in downtown Broadview Heights and is exploring new east and west suburb locations.
Recognized for superb design and quality, for over 27 years, Petros Homes builds in seven counties across Northeast Ohio. The local builder and remodeler has been recognized as one of the top 200 builders in the nation by Builder magazine. Information on the company and all of their communities can be found on the Internet at and latest trends and photos are available by "liking" Petros Homes on Facebook." Read More

New homes being built is a great sign for the demand now and in the future.  When you look at areas to buy in look at the new build potential.  That will effect used home sales.  In Lakewood and many other cities we buy in they are land locked and you cannot build new homes unless you tear down the ones that are there.

That is what you want to know when you are buying real estate as an investor.  You want a land locked cities that cannot have new build sub divisions.  Example: A city like Lakewood Ohio is a very desirable place to live.  So to live there you have to buy a homes that is available in that community.  We just sold two homes in that area for $143,900 and $199,900.  The properties were sold in 45 days and 60 days.  The $143,900 was a first time buyer and $199,900 was a family that moved here from Chicago.  We are currently doing two more flips in this area that will be ready in mid September.  We made our clients $58,000 net on the two sold properties.

To finish up look for the new builds to start up which helps the values on properties increase but buy in cities that do not have new builds close by.  This helps you in two ways days on market and a higher equity position. That's why you need to use a Investment Company that have seasoned Realtors that understand the Investment Real Estate Market  Brett Young
Check out the video of a home we are doing today! This home will be listed at $350,000

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Friday, August 29, 2014

Another Real Estate Special

Here is another Cost Plus property this system saves you $5,000 check out your returns.

  It is a 3 bed, 3 (2,1) bath cape cod home with vinyl siding, some newer vinyl replacement windows, first floor laundry off the kitchen where w/d stay, large eat in kitchen where all appliances stay, large finished upstairs area with full bath, updated half bath off the master, nice oak built in desk in guest bedroom, updated full bath on main floor with heated floors and nice oak vanity, newer furnace, extra shower in basement, updated sanitary drains.  The over sized 2 car detach garage has a newer concrete pad, insulated, heated, updated electrical, drain in floor, has water, hookups for gas outside for grilling, newer garage door with opener. The other side of the garage has an enclosed patio where the panels can be removed to open up to the outside for those summer nights. 

Property #’s Below:
Purchase Price ------------------------------------- $ 45,000
Rehab cost ----------------------------------------- $ 18,000
Rooftop Fee --------------------------------------  $  7,000
Rehab and Purchase Price ----------------------- $ 70,000

After Expenses Estimated Positive Cash Flow
Rent ------------------------------------------------- $ 1200
Taxes -------------------- --------------------------- $   192
Prop Management --------------------------------- $  120
Insurance ------------------------------------------- $    50
Positive Cash Flow ------------------------------- $   838

Call Brett 602-363-6551

Thursday, August 28, 2014

New Weekly Real Estate Special

Here is a rare property we purchased in Richmond Heights.  This is a really a great neighborhood and area.  Not a lot of homes but a really nice city.  You will get great rents here and quality tenants.  This will also be a great place to flip homes soon.

Here is what Trulia says about it:

"This is a Single-Family Home located at 1790 Skyline Drive, Richmond Heights OH. 1790 Skyline Dr has 3 beds, 1 ½ bath, and approximately 1,344 square feet. The property was built in 1955. 1790 Skyline Dr is in the 44143 ZIP code in Richmond Heights, OH. The average list price for ZIP code 44143 is $214,250."


Property #’s Below:
Purchase Price ----------------------------- $ 59,000
Cost Plus Rehab-----------------------$15,000
Rehab and Purchase Price --------------- $ 74,000

After Expenses Estimated Positive Cash Flow
Rent ---------------------------------------- $ 1200
Taxes -------------------- ------------------ $   235
Prop Management ----------------------- $  120
Insurance ---------------------------------- $    50
Positive Cash Flow ---------------------- $   795

Call Brett 602-363-6551 to reserve this property

Wednesday, August 27, 2014

Cleveland house prices saw slim growth in June

Here is a story from that shows the price increases in Cleveland have slowed done a bit.  As a Real Estate investor that is a great thing.  Slow rising prices and lower inventory can only mean one thing SALES. 

What is not mentioned in this story is wholesale prices.  They have went us 10%-15% because of the smaller inventory.  Again another great sign and it also puts pressure on the market.  Buying wholesale real estate is not as easy as it was before.  

As always has come up with a way to purchase the higher prices homes and make a great return.  It's called Cost Plus and it works like this.  We give you our cost on the real estate.  We also disclose our profit on the property that you pay.  We just sold a property that saved the client $11,000 max. We go into the property and quote what we think it will be.  Then you get that quote that is detailed on what repairs are being done.  If we do run into any extras (99% of the time less than $2,000) you do pay that but that's it.  This property was $63,500 and netted over $800 in a great neighborhood.

We also closed a home($199,000) this week in Lakewood that netted our client $30,000. The property sold in 60 days. Click here to view that property .  We sold another Lakewood property($143,900) that netted $28,000 in 45 days last week .  Click here to view that property.

As you can see we are in both markets and the trend is up but slowly.  Having the right equity and area can make or break your portfolio. I enclosed a video I made on our Cost Plus System.


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