Agent & Property Manager Recommendations & CCC Feedback

[Kelly Shulman]

Hi BP Cleveland Forum!

We (we being my husband and I) have spent the last few months reading BP books, listening to BP podcast, and doing “one deal analysis per day” (thanks fort he tip there, Brandon!). We are ready to take the plunge and make our first purchase! We live in LA and we have lots of connections back to Cleveland, we are looking to build a long-distance team in Cleveland area with the intent of one purchase this year, 3 next year, and 6 purchases annually after that.

We thought we’d post to get some advice from this great community – can you help us out with:

• Agent & property manager recommendations - will be flying in for some in-person meetings in early April. Can you reply with recommendations for agents or property managers you think would be interested in working with us based on the CCC below?
• Feedback on our CCC? – We think it's possible to find something that meets this CCC based on the MLS deals we've analyzed, but we'd love advice from those who have gone before us!

Crystal Clear Criteria (hopefully) for Q2 2022 Purchase:

• Small Multifamily Home
• <$100K
• Needing <$10K of rehab
• Able to get conventional mortgage, $20K down (20%)
• West Cleveland Area (we have seen many listings that look to close on our criteria in West Blvd, Detroit Shoreway, Cudell, Edgewater, Old Brooklyn, and Ohio City, but we are absolutely open to local agent/other investor expertise here to point us to an appropriate area) or other recommended Cleveland Metro Area towns.

Looking forward to joining this awesome Cleveland REI community and starting to learn and give back!

Cheers,

Kelly & Jordan

[Shane Kelly]

Welcome to the forum! I'd say your criteria seems solid. The small multi market is fairly plentiful in Cleveland, some of which being in your range, and you should be able to find some financing for them. I'd particularly like to touch on your area criteria and say you seem to have picked very well. You may notice that some of these areas, particularly parts of Edgewater and Ohio City, can cost much more than 100k for a small multi. Other than that though, all seems well! I'm happy to help with whatever I can, so don't hesitate to reach out if you need anything. Best of luck!