Hello PMC members, my name is Chris. My team joined a few days ago and we are excited to connect with both investors and operators. We do a lot of residential fix and flips in northern Ohio. We use the classic BRRRR ( buy, rehab, rent, repeat) model quite often. We also renovate and either place a tenant and sell to our large, turn key investor pool or sell to a homeowner if we decide to not refinance and keep it ourselves. We also try to have at least three exits to get out of the short term money. The more exits, the safer the investments becomes. We currently have many deals in the pipeline but we will start with one or two simple, quick rehabs. Here are the details….
368 Campbell street in Akron, OH
4 beds/2 baths
Most of the cleanout and major work was done by the previous owner. The rehab will consist of…
- Fix the burst pipe from the upstairs bathroom
- Minor plumbing and drywall repair
- Entire interior painted, including kitchen walls and kitchen cabinets
- New LVP flooring throughout the entire house
- New kitchen countertops and hardware for the cabinets
- Replace all outlets, light fixtures, and switches
- Repair and refresh bathrooms. New toilets, vanities and surrounds
This project should take 2-3 months max on the rehab. That is being very conservative.
Purchase price $89,000
Rehab budget $24,00
ARV $159,000 is the average comp for the area
Rentometer $1,300-1,450 per month.
We are offering a 13% annualized return.
6-12 month term ( we can be flexible)
We know the Akron area very well and know the nuances of both the neighborhoods and the renters market. We have done everything from light cosmetic rehabs to complete gut jobs. We found when the world shut down in 2020, materials became very expensive and labor became hard to come by, so we shifted from doing massive renovations to doing more light, cosmetic rehabs. They are faster, simpler and easier to turn the money around. In and out much more simply with less surprises.
This is a simple, easy project with multiple exit strategies that is a solid investment. We have a handful of other deals that are very similar to this if interested. Ill add pictures and comps in the comment section. Thanks for taking a look….
COMPS – 368 Campbell St, Akron
Hello Chris,
I’m in Northern Ohio as well and would like more information on this project. Please email me at Marceels@aol.com to chat.
Have funds available if it’s the right project. Thanks!
Hello Christ Always a pleasure to connect with a new lead. This is within my range., Please email me at info@nvcapitalteam.com