We helped David, Diego, and their investor group from Europe and Latin America remotely acquire and finance their first turnkey rental property in Cleveland, Ohio

PROPERTY SOURCED

FULLY RENOVATED

FINANCE APPROVED

CASH FLOW & EQUITY

PURCHASE PRICE

$137,500

MONTHLY RENT

$1,400

NET MONTHLY

$293/mo

CASH-ON-CASH

9.2%

Overview

David, Diego and their group of investors from Europe are building a real estate portfolio in the United States. In late 2025, they were actively searching for their first deal in Cleveland, Ohio.

With members of their group based in Eurpoe and Latin America, they were keen to acquire turnkey assets that did not require heavy renovations. They were also looking for properties with a lower purchase price for the first ‘proof of concept’ deal.

After struggling to find a well-priced deal in good condition that also met their purchase and financing criteria, they were refered to Cashflow Rentals by their mortgage lender.

The Property

With the Group’s strict purchse criteria in mind, we sourced two off-market properties on the same street on the West side of Cleveland, Ohio, both priced at $140,000.

The properties had been recently renovated and tenant-occupied, and were still owned by the Contractor who was managing them as part of their own Cleveland portfolio.

After a detailed analysis of both property’s location, condition, and financials, David and Diego settled on the larger of the two properties.

We felt this property was a good fit for the Group as it met their purchase and financing criteria. It was also turnkey, with no renovation or tenant leasing required.

We coordinated a thorough due diligence process, including a home inspection, subsequent repairs, and an appraisal. As a result, we secured a final purchase price of $137,500.

Our lender was also able to provide the Group with a 70% LTV DSCR loan to fund the purchase, with no U.S. credit or proof of income requirements.

CASH INVESTMENT

$48,125

MONTHLY RENT

$1,400

NET MONTHLY

$293/mo

CASH-ON-CASH

9.2%

The Group closed in February 2025 using a remote online notary for all signers in different locations.

Despite an inital late rent payment during the transition of ownership, the property has so far perfomed as expected.

On current trajectory, net cash flow for the year after all operating expenses, cash reserves, and debt-service will be around $3,500, equating to a cash-on-cash return of 7.2%.