the march 2013
Millennium
ADDRESSING THE NEEDS OF MODERN INVESTORS IN NE OHIO, ENSURING A SUCCESSFUL, PROFITABLE FUTURE.
Making Room In The Pipeline
8973 Fairpark Ave. Sold! Leaves The Inventory
You might remember this gem of a house -‐ I have been documen6ng this transac6on
from the 6me we bought the house last fall. It needed a lot of work!
It’s a 4 bedroom, 2 ½ bath Colonial with nearly 2,000 sq. E. of living space.
We purchased the house for $45,000 -‐ a phenomenal deal. It’s in a $150,000-‐
$160,000 neighborhood, so while we knew it needed some work, the low price leE us
with a lot of room for a healthy profit, even aEer our rehab costs.
We followed our standard rehab formula. We put in a new kitchen with stainless steel
Josh Cantwell, founder and CEO of Millennium Capital Investments & Sharp Concepts Realty.
A LOOK INSIDE
appliances, redid the three bathrooms completely (including adding a tub to the 8973 FAIRPARK AVE CASE
Master bath), installed new carpe6ng and laminate flooring and painted the en6re STUDY……………..………………….…….1
house. We also put new doors up throughout.
We painted the exterior, fixed the front railing, added a new door and trim and
HOT INVESTMENT OPPORTUNITIES…….…….…...………2
cleaned up the landscaping. The roof and windows were already newer, so we didn’t FOLLOW JOSH……………………………4
need to do anything with those. When we bought it, the basement was flooded and
there was a lot of damage, so there was extra work to do there to get it dry, repaired with new drywall, cleaned and
ready for the new owners. We also installed a new well pump and reverse osmosis.
We were into this house for over $70,000, including purchase, rehab and repair costs. We had roughly $80,000 of investor funding to work with total. We put the house on the market for $149,900 ini6ally, but were willing to reduce the price to get it sold. AEer several months on the market. we sold it for $126,000, with $4,000 in seller concessions, so a total of $122,000. That leE us with a healthy profit of roughly $50,000 that we’re now able to use for our next rehab project. For our private money partner, that means a double-‐digit return. Using this formula, we’re able to con6nue to use that partner’s money to fund our next rehab, and provide another opportunity to make a healthy return in a very short amount of 6me.
MLS DESCRIPTION
Larger colonial on nice sized private lot in Northwest schools! Just one look and you will fall in love. Updates throughout. 4 bedrooms upstairs with 2 full baths. Large master suite w/ attached bath and 2 closets. Master bath has tub shower and double vanity. A large 19x13 living room with wood burning fireplace with half bath as well as a 18x12 family room. Beautifully redesigned larger kitchen centrally located featuring stainless steel appliances, tile floor and backsplash, and tons of countertop space. New flooring throughout the house. Big basement with lots of potential. Nice backyard with decorative pond ready for fish. Perfect for entertaining, cookouts and picnics. The back cement patio also adds outdoor living area.
2 car garage with tons of potential. House is neutrally decorated and in move-in condition. Simply unpack and enjoy! Seller flexible.
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Hot Investment Opportunities
1621 Cook, Cleveland -‐ HUGE deal for
only $99,900
8657 Virginia Dr., WesMield Ctr. -‐
$25,000 below appraisal
4 bed, 4 bath beauty. With 4,000+ sq. c. of luxury, completely renovated, like-‐new home. Super clean, fresh paint and new carpeDng. 3 fireplaces, high ceilings, wood floors. The home sits on a private over-‐sized wooded lot. Luxury living at an affordable price!
Nearly new home for only $216,000
This one is virtually brand new and can be yours for only $216,000. 3 bed, 2 ½ bat h r anc h i n th e W ate r bur y neighborhood. Vaulted ceilings, modern, open floor plan. Lots of neighborhood ame ni De s (pool , pl aygroun d and clubhouse) make it ideal for anyone.
4034 Manchester Rd, Akron -‐ Move-‐in
ready, seller flexible.
Large Colonial on huge private lot. Updates
throughout. 4 big bedrooms, 2 ½ baths.
rd
740 Hine Rd., Painesville -‐ Move-‐in ready for only $71,900 -‐ Just Reduced! Updated 2 bedroom, 1 bath home in desirable area of Painesville. Perfect opportunity for home ownership with nothing to do but move in. Updated eat-‐in
kitchen with ceramic Dle floor, newer
878 Englewood, Cleveland Hts. -‐ Huge
house for a small price
Gorgeous, move-‐in ready, Cleveland Hts. POS-‐compliant, large, mid-‐century Colonial,
3 beds, 3 baths. 1st floor master bedroom,
Huge 3
floor with full bath can be a
cabinets and all appliances. Laundry area
living room w/ beauDful wood-‐burning
master suite or bonus room. Fireplace and
large windows for lots of natural light in the liv ing r oom . Lar g e k it c he n, ne w e r appliances, walk-‐in pantry and countertops. New fl o o ri n g, ki tch en , b a th ro o ms , windows, roof and more. Large Florida room with access to the yard. Big shed in the back for extra storage. 2+ car garage. Neutral décor. Seller flexible!
with washer/dryer and great storage areas. Detached 1-‐car garage, concrete driveway. Newer carpet throughout, vinyl windows. Many of the original features. BeauDful yard and landscaping. Updated electrical. Needs nothing! Agent owned.
14606 Milverton Rd., Cleveland -‐ Just
reduced to $10,000
fireplace, family room/den with slider to pr iv at e paDo and par k -‐lik e pr iv at e bac k y ar d. For m al dining r oom w ith refinished built-‐ins, prisDne wood floors. Updated, gourmet kitchen and full bath on
1st floor. Appliances included. Basement has been waterproofed and features plenty of storage, new hot water tank (2012) and private bathroom. Over 2,000 sq. c. and
2n d flo o r wi t h l arg e b ed ro o ms . Immaculately cared for. Seller offering home warranty. Tree-‐lined street in desirable area.
Search the entire Northeast Ohio
13215 Hathaway, Garfield Hts. -‐ Just You won’t want to pass up this 3
Market MLS for your next home at
reduced, move-‐in ready
bedroom, 2 bath home in Cleveland.
www.freeclevelandhomesearch.com
Tremendous value for a move-‐in ready 3 Complete with full basement. It needs bed, 1 bath home in Garfield Hts. Yours for some TLC, but what beher opportunity to only $39,900! Well-‐maintained bungalow put your stamp on it! Great investment with full basement and fenced in yard. This opportunity, subject to short sale one is not going to be available for long at approval. Only $10,000.
www.sharpconceptsrealty.com
Sharp Concepts Realty
440.623.0531
this price. 2
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PO Box 30339
Middleburg Hts., OH 44130-‐0339
REAL ESTATE NEWS FROM
JOSH
CANTWELL
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