All Topics / Overseas Deals / Cleveland USA Rental Properties – looking to liquidate

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  • Profile photo of lotte74lotte74
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    @lotte74
    Join Date: 2011
    Post Count: 1

    Hi all,

    Good day.

    I have a couple of rental properties in Cleveland that I want to liquidate. I’m wondering if anyone can help/advice me how to go about it. I’ve contacted a realtor in the US, but I felt it’s the wrong market. I think it would be better to sell it to another investor. I’m not looking to gain any profit, just want to get my capital back, even willing to take a loss. The properties are making a positive return but I need the money to make a deposit on a local investment.

    1 Property is a 2 bedroom Condo Unit, which I bought for US$25000, and currently renting for $625 a month.

    Another is a duplex, with I bought for $55,000. The lower unit is 2 bedroon, rented for $650/month and the other unit is 3 bedroom, rented for $750/month. Total of $1400 a month.

    Thanks a lot for your time.

    Please contact me at [email protected].

    Cheers,
    Lotte

    Profile photo of RedwoodRedwood
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    @redwood
    Join Date: 2013
    Post Count: 340

    Hi Lotte – I know quite a few people on the ground that can assist you, but in the meantime reach out to Engelo who works in the area – he may have a yellow ladder story to assist you :)

    Cheers Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
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    Profile photo of EngeloRumoraEngeloRumora
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    @engelorumora
    Join Date: 2010
    Post Count: 618

    Hi Lotte – I know quite a few people on the ground that can assist you, but in the meantime reach out to Engelo who works in the area – he may have a yellow ladder story to assist you :)

    Cheers Ivan

    Thanks Ivan,

    I believe that Lotte bought C class turnkey properties at those prices and it will be very hard to get the invested funds back.

    Lotte,

    Please feel free to email the addresses and I have a few contacts in Cleveland that might be able to assist.

    [email protected]

    Unfortunately I have my hands full with numerous ventures and can’t dive into this one.

    Thanks and have a great day.

    ps. Ivan, look out for our Yellow Ladder Christmas editions haha

    EngeloRumora | Ohio Cashflow
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    Profile photo of jayhinrichsjayhinrichs
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    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    Lotte… you may want to put this on the website called ” bid 4 Assets” its like an E bay for RE and one off investors such as your self can list and sell your properties there it will also give you a good indicator if you have sellable properties and at what price.

    AS Engelo states C class properties although easy to buy are very very tough to sell If your not a marketing or promoter of same !

    Profile photo of EngeloRumoraEngeloRumora
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    @engelorumora
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    Ivan,

    Have you seen the latest Yellow Ladder? lol

    I remember you saying I should button up my shirt in a previous video?

    Is this better?

    haha

    Thanks

    • This reply was modified 9 years, 5 months ago by Profile photo of EngeloRumora EngeloRumora.

    EngeloRumora | Ohio Cashflow
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    Profile photo of EngeloRumoraEngeloRumora
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    @engelorumora
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    3rd video to the right :)

    EngeloRumora | Ohio Cashflow
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    Profile photo of RedwoodRedwood
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    @redwood
    Join Date: 2013
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    I just had the displeasure of watching this one.

    Looks like the shirt buttons are undone and you ditched the pants – showing off the Croatian thunder thighs :D Pretty scary stuff mate.

    Why the hell are you wearing a superman shirt.

    Sounds like all is well there Engelo, and you are doing well and lets hope the winter storms don’t knock you over.

    Chat soon

    Cheers Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
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    Profile photo of EngeloRumoraEngeloRumora
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    @engelorumora
    Join Date: 2010
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    hahaha

    Steadily growing the business.

    We are now fully licensed and insured with our very own in house property management and Realty company.

    Mr Hinrichs was instrumental with advice over lunch in Chicago.

    We followed his exact words with hiring an in house broker in order to legally run in house property management and we added on a realty company lol. We have 2 agents on board thus far.

    So hats of to Mr Hinrichs :)

    Just got your email.

    Will give you a call :)

    EngeloRumora | Ohio Cashflow
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    Profile photo of laurieklauriek
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    @lauriek
    Join Date: 2015
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    I sent you a pm lotte74, I may be interested.

    Profile photo of Nigel KibelNigel Kibel
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    @nigel-kibel
    Join Date: 2005
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    That is important our business in Orlando is fully licenced. Make sure that whoever you deal with is qualified. More importantly look at there experience and track record.

    • This reply was modified 9 years, 5 months ago by Profile photo of Nigel Kibel Nigel Kibel. Reason: spelling error

    Nigel Kibel | Property Know How
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    We have just launched a new website join our membership today

    Profile photo of saturdaysaturday
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    @saturday
    Join Date: 2011
    Post Count: 10

    Hi Guys
    can someone please explain what a c class property is?
    or is there a link that explains the difference between a b and c

    thanks

    Profile photo of EngeloRumoraEngeloRumora
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    @engelorumora
    Join Date: 2010
    Post Count: 618

    Hi Guys
    can someone please explain what a c class property is?
    or is there a link that explains the difference between a b and c

    thanks

    Hi Saturday,

    Please feel free to read a blog I write about the different asset classes in the US.

    http://www.biggerpockets.com/renewsblog/2014/06/28/abcs-real-estate-asset-classes/

    I hope you find it useful :)

    Thanks and have a great day.

    EngeloRumora | Ohio Cashflow
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    Profile photo of saturdaysaturday
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    @saturday
    Join Date: 2011
    Post Count: 10

    thanks Engelo
    great summary
    the only comment that does not make sense to me (based on Aussi real estate) is that in class A property where the majority is owner occupier i would have thought that increased demand and therefore rental income as the renter would have limited supply to choose from?

    Profile photo of EngeloRumoraEngeloRumora
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    @engelorumora
    Join Date: 2010
    Post Count: 618

    Not really Saturday as there would only be the odd rental here and there. The yields would be similar to the Australia market so it wouldn’t be worth the risk either IMO.

    Its a different world here…

    Thanks

    EngeloRumora | Ohio Cashflow
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    F@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST

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