It's been a busy few weeks since we were last in Cleveland. We have put in over $1.5M worth of offers on 3 properties comprising of 10 buildings with 164 units. One offer has been accepted and we already have an investor lined up for it. The others are short sales and will take some time to process. Once the other offers have been accepted we will post details on any properties that are not spoken for. We are also analyzing several other deals and expect to submit offers shortly.

We were scheduled to go into Houston or Dallas later this month and evaluate the market there, but due to the volume of properties we're currently evaluating in Cleveland and Georgia we decided to leave it until late May.

The whole process of making offers on real estate has been very educational and entertaining. Educational because every deal is a little different, and variables such as location (city or county), status of title (owner or bank), condition of building, and timelines, all making each deal unique. Entertaining because of the diverse personalities of the owners and institutions that may be selling a property sometimes give pause and make me shake my head in wonder at some of their requests, demands, and actions.

I'm heading back to Cleveland this weekend and have several new properties to evaluate, as well as a few previous properties to finalize offers on. My partner has been noticing that the commercial properties in the markets he is working in are drying up, so we are doubling our efforts in Cleveland as we know there are still plenty of opportunities there. I hope to post a few of thse opportunites on our properties page next week, so stay tuned.


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